East West Resource Corporation: Drilling Targets Prioritized on Fishhook Nickel-
posted on
Jun 03, 2008 05:04AM
Exploring for Copper, Zinc, Nickel and precious metals in northwestern Ontario.
Porcupine Mining Division
- 1068 claim unit property 30 km south of Noront discovery
- 2233 line kilometer airborne EM-Magnetic survey completed
- Numerous high quality conductors located, drilling planned
The 1068 claim unit property was acquired by East West Resource Corporation ("East West"), (TSX VENTURE: EWR) by staking 30 kilometers south of the Noront Eagle One discovery and covers the basal section of a large mafic-ultramafic intrusion known as the Fishtrap Layered Intrusion. A 50-50 joint venture agreement to share the costs of exploring this large property, the Fishhook, has been signed with Temex Resources Corp. (TSX VENTURE: TME)(FRANKFURT: TQ1), originally announced April 1, 2008. The entire property was covered by Geotech Ltd. VTEM airborne system which generated 2233 line kilometers of both magnetic and electromagnetic data.
The Fishhook data set has now been interpreted and eleven areas have been selected as top priority drill targets. Eight represent massive sulphide nickel-copper-PGE targets in that they have very strong late time responses with direct magnetic correlation and would represent Noront type massive sulphide zones. There are also 3 areas with early time responses within the layered mafic intrusive complex where chromite layers have been found. These conductors may represent PGE-nickel-copper bearing layers. Chromite layers have been noted on the Noront property. In addition to the top priority drill targets, conductors that flank magnetic stratigraphy that still may represent copper-nickel minerals on the margin of mafic intrusions and there are numerous other conductors that may represent VMS settings beyond the layered complex. A drill program is scheduled to begin this summer.
This project set out above is being supervised by R.S. Middleton, P.Eng, who is the qualified person and responsible for quality control of assaying, geophysical surveys and exploration program. More details are available at www.eastwestres.com.
Certain information regarding East West Resource Corporation contained herein may constitute forward looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although East West Resource Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. East West Resource Corporation cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what East West Resource Corporation currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.
ON BEHALF OF THE BOARD OF DIRECTORS
M.J. (Moe) Lavigne, President and CEO
THE TSX VENTURE EXCHANGE DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
East West Resource Corporation
M.J. (Moe) Lavigne
President and CEO
(807) 623-3824
(807) 623-0877 (FAX)
Email: info@eastwestres.com
Website: www.eastwestres.com