Great Western options War Eagle ground

Two properties owned by the Mexican subsidiary of War Eagle Mining (VSE) have been optioned by Great Western Gold (VSE).

The ground adjoins War Eagle’s La Blanca property in Mexico. War Eagle’s share price has been on a steep upward path since the recent release of sampling results from a number of test pits on the La Blanca property. The samples returned an average grade of 9.67 oz. silver and 0.048 oz. gold per ton.

Great Western can earn a 50% interest in the two adjoining properties by issuing 50,000 shares and making property payments totalling $60,000 to Feb. 1, 1992, plus $50,000 per year thereafter to a total of $800,000. Both properties are reported to be on the same rock units as War Eagle’s La Blanca discovery and mapping has identified a number of showings containing anomalous gold and silver values.

War Eagle completed 16 holes totalling 4,000 ft. on the La Blanca property but has not released any assay results.