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An announcement from Aurwest Resources ( (TSE:AWR) ) is now available.
Aurwest Resources has signed a definitive option and joint-venture agreement with Pacific Bay Minerals to earn up to a 50% interest in the Weaver Lake gold-silver property in British Columbia through staged cash payments, share issuances and exploration spending over three years. Upon completion of these commitments, the parties will form a 50/50 joint venture, with Pacific Bay as operator and governance provisions covering dilution, royalty arrangements, major project decisions and transfer restrictions.
The Weaver Lake project lies in B.C.’s East Harrison Lake Belt and is considered prospective for orogenic gold-silver mineralization in quartz-carbonate veins, with historic work returning high grades and confirming mineralization continuity. Its road-accessible location, existing infrastructure and additional nickel-copper sulphide potential position the asset as a significant exploration platform for Aurwest, potentially enhancing its presence in the regional gold exploration sector.
More about Aurwest Resources
Aurwest Resources is a Canadian mineral exploration company focused on precious metals, with its shares listed on the Canadian Securities Exchange under the symbol AWR. The company is pursuing growth through option and joint-venture deals on early-stage projects, targeting gold and silver opportunities in prospective but underexplored districts.
Average Trading Volume: 101,168
Technical Sentiment Signal: Hold
Current Market Cap: C$2.09M
For a thorough assessment of AWR stock, go to TipRanks’ Stock Analysis page.