East West buys Red Lake property

East West Resources (VSE) has acquired a property in Heyson Twp., Ont., and staked adjacent ground to control a land package of about 17 sq. km.

The properties have gold showings in several veins, which were originally trenched in the early days of the Red Lake camp. Samples from the veins had gold concentrations of 34, 86 and 137 grams per tonne.

The land package covers a strike length of 8 km centred on a shear zone that hosts the gold veins. East West plans to perform ground geophysics and trench the geophysical anomalies.

The vendors, three prospectors, receive a total cash payment of $138,000 and, subject to the approval of securities regulators, 100,000 shares in East West.



Exchg Vol(000s) Close

Barrick Gold T 5485 $36 1/2

Placer Dome T 3797 $34 1/4

Sherritt T 3784 $17 1/4

Inco Ltd T 3454 $49 1/2

St Genevieve T 3019 82

First Western V 2732 94

Portman Expl V 2452 37

Castle Rock V 2407 97

TVX Gold Inc T 2325 $9 1/4

Noranda Inc T 2239 $29


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