Westminster Resources Ltd. (“WMR” or “Westminster” or the “Company”) is pleased to announce that it has commenced a systematic review of all past exploration related work at Mostazal. The Mostazal copper – silver property is located in the Atacama Desert of Chile, 80 km northeast of Copiapo, 30 km east of Inca de Oro. The property consists of eight exploitation licenses covering approximately 16 square kms within the main porphyry copper belt of Chile, along the Domeyko Fault System.
In particular, the company is in the process of reviewing data from a 2012 – 2013 exploration program conducted by a prior operator at Mostazal. This program included geophysical and geochemical surveys conducted with the primary objective of delineating the extent and margins of a 4 km by 2.5 km north-south trending belt of outcropping copper mineralization and associated rock geochemical anomalies.
Jason Cubitt, Westminster’s President and CEO states, “Mineralization at surface bears all the hallmarks of an extension to a buried porphyry copper system, including tell-tale alteration halo, and the suite of copper sulphides and associated pathfinder elements you’d expect to see.” Mr. Cubitt continues, “It’s highly encouraging to see the geophysical modeling of structures of significant size at depth lying beneath known copper mineralization at surface.”
The preliminary interpretation of the geophysical data indicates that much of the known mineralization at surface is closely correlated to four deep-rooted magnetic anomalies. Anomaly “A” (figure 1) occurs on the eastern margin in the northern part of the grid and is coincident with mineralization and artisanal workings. Two further anomalies, “B” and “C”, are part of a large circular feature located in the central part of the grid and both are closely associated with known mineralization. The fourth deep magnetic anomaly, “D”, is located in the southern part of the grid and is open to the south. These four anomalous areas are considered key target areas for additional exploration at Mostazal, targeting both additional stratabound mantos-style mineralization as well as the modelled porphyry at depth.
Figure 1: Historical ground magnetics map, Mostazal Copper Project, Chile.
The central magnetic anomalies form a circular feature approximately 1.6 km in diameter. This magnetic high consists of two strong lobes on the west and east side of the grid. Given that the majority of the grid is mapped as andesite, the circular shape of the central magnetic high may be indicative of magnetite emplacement through hydrothermal alteration. Known copper mineralization occurs within this magnetic high, particularly within the two lobes. There is “striking correlation between the known mineralization and the two magnetic highs”, as reported in the September 2012 Geophysical Report on Mostazal, by Joe Jordan.
The company has engaged Kit Campbell of Campbell & Walker Geophysics Ltd. to review existing geophysical data together with the historic drill hole database. This will then be integrated into the Leapfrog geology software to produce an updated three-dimensional model of the study area.
The 2012-2013 shallow drilling defined a discontinuous stratified mineralization system of Cu and Ag in porphyritic andesites with hydrothermal alteration of chlorite-epidote-sericite and silicification. Mineralization of copper oxides mixed with chalcocite is observed from the surface down to 40 to 50 m deep. Below, mainly chalcocite and locally bornite, and chalcopyrite are observed. Copper minerals consist of an oxide phase (malachite, chrysocolla, and minor atacamite and azurite) and a sulphide phase (chalcocite, minor bornite). Whitish-gray chalcocite is the dominant copper sulfide mineral.
Technical information in this news release has been reviewed and approved by Derrick Strickland, P. Geo., a qualified person as defined in National Instrument 43-101.
FOR FURTHER INFORMATION CONTACT:
President and Chief Executive Officer
Westminster Resources Ltd.
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This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.