Labrador News Roundup — First Western poised for drilling

Vancouver-listed junior First Western Minerals has started a geological reconnaissance program on 16 of its 26 properties in Labrador.

Initially, the company will focus on its wholly owned properties north of the Voisey Bay nickel-copper-cobalt discovery. Airborne surveys were flown in late August, and drilling will begin in September.

First Western has a 100% interest in 12 of its Voisey Bay properties, while NDT Ventures (VSE) holds options to acquire a 51% interest in the remainder.

Meanwhile, First Western has completed airborne surveys on two properties in the Labrador trough area of northeastern Quebec. Ground crews are carrying out sampling and mapping.

First Western has agreed to grant Prime Equities International (VSE) an option to earn a 50% interest in six claim blocks comprising 630 claims in the Voisey Bay area.

To earn the interest, Prime will pay $245,000 relating to the acquisition of the claims by First Western, reimburse $125,000 expended on exploration and development work and issue 50,000 shares of Prime to First Western.

Prime will be the operator of a joint venture to be formed after the company earns its interest.