Western Pacific Mining Exploration Inc.: Completion of Private Placement.QUEBEC, Quebec--(BUSINESS WIRE)--Dec. 6, 1996--WESTERN PACIFIC MIN Min (mĭn). 1 Chief river of Fujian prov., SE China, c.350 mi (560 km) long, rising in Wuyi shan and flowing SE to the South China Sea near Fuzhou; it receives several tributaries near Nanping. .(ME WPC WPC (in Britain) woman police constable WPC (Brit) n abbr (= woman police constable) → Polizistin f WPC n abbr (BRIT .) Western Pacific Mining Exploration Inc. management wishes to announce the completion of a private placement in the amount of $6,490,000.00CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. for which the Company issued 3,245,000 units. Each unit is comprised of one common share at a price of $2.00 and one share purchase warrant which entitles the holder to purchase an additional share at a price of $2.50 for a period of 12 months. The Company now has over $10,000,000 in cash available to begin the exploration program in the Solomon Islands. Watts Griffis McOuat, the Company`s consulting geologists has established a complete budget which includes all 11 properties in the Solomon Islands. Phase 1 of the exploration work, sampling and drilling, will commence on Fauro Island which is just south of Bougainville Island and is of close proximity to the Lihir deposit. According to the WGM WGM Whispering Gallery Mode (microresonators) WGM Women's Grandmaster WGM Work Group Manager WGM World Gone Mad (Austin, Texas drum and bugle corps) WGm West Germanic (linguistics) report: "Fauro Island has a large collapsed caldera caldera: see crater. caldera Large, bowl-shaped volcanic depression that forms when the top of a volcanic cone collapses into the space left after magma is ejected during a violent volcanic eruption. The term is Spanish for “caldron. . Within this volcanic structure there are highly permeable rocks such the Koria sandstone and the Togha pyroclastic py·ro·clas·tic adj. Composed chiefly of rock fragments of volcanic origin. pyroclastic Composed chiefly of rock fragments of explosive origin, especially those associated with explosive volcanic . These units and the fractured or faulted areas within them are highly favorable to host epithermal gold deposits. Previous work by BHP defined three highly favorable areas that contain strongly anomalous gold values in bedrock, soil and stream sediments. This property requires detailed surface exploration to define diamond drill targets." Mr. Diotte, the president of Western Pacific is currently in the Solomon Islands finalizing the Land Access Agreements required to proceed with the field work. CONTACT: Western Pacific Mining Exploration Inc. Mr. Richard Diotte, 418/ 527-3362 418/ 527-3870 (FAX) 514/ 286-0909 (Montreal) INTERNET: http://www.infodine.com/wpc/wpc.htm |
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