Westley, Nerco in joint venture

A joint-venture agreement has been entered into by Westley Mines and Nerco Minerals involving exploration of Westley’s Gold Pass property in southern Oregon. The agreement, subject to regulatory approval, calls for Nerco to spend $800,000(US) during a 4-year period to earn a 50% interest in the property. Westley will retain a 50% interest.

Westley Vice-president Lawrence Roulston reports the Gold Pass property contains a 10,000-ft-long zone of gold-bearing mineralization. Samples from outcrop grade from 0.02 oz gold per ton on up to 0.75 oz. Drilling on the property is to commence this month.

Nerco is the mining/resources development unit of Pacific Corp., a diversified corporation with headquarters in Portland, Ore.