May 13 2014
West Melville Metals Inc. has completed an initial due diligence investigation on the Alex Copper Property located in Sonora, Mexico. Results are sufficiently encouraging for the Company to mount a follow-up field program which will commence immediately.
The aim of the follow-up program will be to conduct a systematic surface sampling program over the main area of mineralization and to compile an initial property scale geological map.
"We are encouraged by our initial field visit to the Alex Property," stated Dr. Rory Moore, President and CEO of West Melville. "We were able to field confirm the presence of a series of copper oxide showings that occur over an area of at least 1,200 x 800 metres. Representative samples taken from several of these showings assayed between 3.2 and 4.6% Cu. In addition, significant primary sulphide mineralization (bornite, chalcocite / digenite and covellite) was discovered within epidote-bearing andesite that assayed 1.6% copper. The ubiquitous presence of similar epidote bearing andesite over large parts of the property opens up the potential for the discovery of a large mineralized system at Alex."
The Alex Option
In January 2014, West Melville secured an exclusive option to acquire 100% ownership of the Alex Copper Property. Under the terms of the agreement, West Melville has until May 31, 2014 to exercise its option to secure a 100% interest in the property by paying USD$25,000 and issuing 250,000 shares in the capital stock of the Company to the Vendor. The Vendor will retain a 2% Gross Royalty on the Property, subject to West Melville's right to purchase 1% of the Royalty at any time for USD$1 million.
The Alex Property
The Alex Property is a copper-silver exploration prospect covering 1,000 hectares located in the foothills of the Sierra Madre about 140 kilometers east of Hermosillo in Sonora, Mexico. This falls within the transition zone between the prolific Laramide porphyry copper belt that spans southern Arizona/New Mexico and north-eastern Sonora, Mexico and the productive epithermal deposits that are generally aligned in a north-west / south-east linear trend along the Sonora - Chihuahua border and extending into Sinaloa and Durango. This trend is well known for the occurrence of a number of productive mines which makes the identification of potentially significant copper mineralization on the Alex Property a compelling exploration target for West Melville. Limited geological investigations conducted on the property between 2006 and 2009 identified evidence of copper mineralization over an area of at least 1,200 x 800 m with mineralization occurring in quartz veins, open stockworks and breccias. Copper-bearing minerals include malachite, azurite, cuprite, bornite, chalcocite, digenite, chalcopyrite and covellite. No modern exploration and/or drilling have ever been undertaken on the property. Access is by 4x4 vehicle along dirt roads, and a permanent water source is located 12 kilometres from the Property.
Source: https://k2gold.com/