LAST BUT NOT LEAST — Western boosts Carmacks stake

Junior Western Copper Holdings (TSE) plans to assume total ownership of the Carmacks copper project by acquiring the half interest held by Thermal Exploration (ASE).

The project is near the Yukon town of the same name, where a bulk metallurgical test was carried out over the past six months. Through the use of solvent extraction-elecrowinning, it was demonstrated that leaching of the copper mineralization can occur in cold weather.

The ownership change is expected to make it easier to finance the project to production. A feasibility study by Kilborn Engineering is nearly complete and annual production of 30 million lb. could begin next year.

In return for acquiring the half, Western will issue 3.1 million of its common shares to Thermal. Once the transaction is approved by shareholders and regulators, Thermal would own 44% of Western while Teck (TSE) would hold 21%.