CATHEDRAL AND WESTMIN AGREE TO EXTENSION ON PORCHER ISLAND GOLD PROJECT.VANCOUVER, BC--(BUSINESS WIRE)--JAN. 13, 1995--CATHEDRAL GOLD CORP. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAT) Cathedral Gold Corporation and Westmin Resources Limited have agreed to extend the Porcher Island Porcher Island is an island in the Hecate Strait, British Columbia, Canada. It has an area of 522 km². Coordinates: Geography With an area of 200 square miles, Porcher Island Option Agreement to June 30th, 1995. Under the Option Agreement, Westmin may earn a 50% interest in the Porcher Island property by completing a mine development evaluation, delivering a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. to Cathedral and advising Cathedral that it wishes to proceed with mine development at Porcher Island. Westmin has completed a draft feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. which indicates a viable mining operation could be carried out at Porcher Island with the ore being shipped by barge to Westmin's Premier Mill located near the Port of Stewart, British Columbia Stewart is a small town at the head of the Portland Canal in western British Columbia, Canada. In 2000, its population was about 700. History The Nisga'a, who lived around the Nass River, called the head of Portland Canal "Skam-A-Kounst," meaning safe place, probably . Westmin has estimated accessible reserves above the existing underground access adit are 150,000 tons grading 0.25 oz/t gold with considerable potential to expand. Size sorting of the broken ore would improve shippable material to 90,000 tons of 0.4 oz/t gold. In consideration of the option extension, Westmin plans to continue its work towards a final feasibility study and the receipt of the permits required for a mining operation at Porcher Island. CONTACT: R. Michael Jones 604/684-4659 |
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