Vancouver, B.C. – June 24th, 2021 Westminster Resources Ltd. (TSXV: WMR) (“Westminster” or the “Company”) is pleased to announce that it has completed a definitive option agreement with a private vendor to acquire a 100%-interest in the Mostazal copper project (see news release dated March 11, 2021). This marks an important milestone for the Company and advances its strategic copper focus in Latin America.
Increased Land Package
The copper-rich mineralized system at Mostazal, exposed over ten-square-kilometres in out-crop and historic mines, extends under cover into Atacama gravels surrounding the property. The true size and extent of this system remains untested. However, deep imaging using induced polarization (IP) and magnetic surveys defines a much larger and deep-seated copper porphyry target with multiple expressions extending beyond the historic claim boundary. Accordingly, Westminster has staked additional exploration claims through its wholly owned Chilean subsidiary, taking the total coverage area in both exploitation and exploration licenses from 13-square-kilometres to 39-square-kilometres.
Jason Cubitt, Westminster’s President and CEO, commented, “We’re delighted to formally complete on this option to acquire. Mostazal represents a tier-one, drill-ready copper porphyry target within the most richly endowed geological setting in the region. It’s vitally important that we control strategic ground in advance of drilling, and our acquisitions team has done a tremendous job securing surrounding claims.”
Figure 1: Historic mining claims (blue) and new (green)
Westminster’s technical team has just completed a compilation and re-interpretation of historical exploration at Mostazal and is planning further field preparation, culminating in a Phase 1 drilling campaign. Schedules and budgets are being reviewed and will be announced.
Westminster is a Latin American focused mining exploration company. The Company holds a 100% interest in a package of highly prospective IOCG and porphyry copper projects in southwestern Peru within the country’s prolific coastal copper belt—source of nearly half of Peru’s copper production. The Company also recently acquired an option to purchase a 100% interest in the Mostazal copper project in Chile’s Atacama Desert, one of the world’s premier copper production jurisdictions.
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.
Telephone: (877) 586-3840
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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.