EXPLORATION – Leeward ponders merger proposals

Management of Leeward Capital (LWC-A) is engaged in discussions for a possible merger with a company for the purpose of financing ongoing work at the Pistol Lake gold project in the Bathurst Inlet region of the Northwest Territories.

Leeward says diminishing market interest in mineral exploration has prompted it to consider various ways to refinance or restructure the company. Among these is this possibility of merging with a company that would be willing to continue exploration at Pistol Lake.

Leeward says interest in the Bathurst Inlet area was triggered by the discovery of shear-hosted gold deposits and occurrences by BHP Minerals in the Hope Bay belt, on the eastern side of Bathurst Inlet.

Leeward’s Pistol Lake project is described as an iron formation deposit similar to the Lupin mine. “The probability of developing a multi-million-ounce mine is good,” the company adds.