Gowest Gold Intercepts 5.42 g/t Gold Over 12.3m at Frankfield East
08 Abril 2013 - 7:30AM
Marketwired Canada
Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA)(OTCBB:GWSAF) is
pleased to announce the results from 13 drill holes at its wholly-owned
Frankfield East gold deposit, part of the Company's North Timmins Gold Project
(NTGP.) The 2,702 metres ("m") of diamond core drilling, conducted during the
two month period ended January 30, 2013, was focused on infill drilling that
will enable Gowest to optimize the bulk sampling and subsequent test mining
planned at Frankfield East next year.
Highlights from the drilling (see Table below) include:
-- 5.42 grams per tonne ("g/t") gold ("Au") over 12.3 m (200.2 m to 212.5
m) GW13-226
-- 8.45 g/t Au over 3.5 m (187.0 m to 190.5 m) GW13-223
-- 5.65 g/t Au over 7.3 m (205.5 m to 212.8 m) GW13-227
-- 13.76 g/t Au over 1.6 m (91.0 m to 92.6 m) GW12-220
The objective of the 2013 Frankfield East infill drilling program is to select
two or three areas with good gold tenor and continuity in preparation for
underground test mining (bulk sampling) in 2014. The central shallow (to a
maximum depth of 200 m) portion of the Frankfield East gold deposit is being
targeted. Thus, the underground decline and ramp that are planned for the test
mining can also be used for future mine production. (To view Gowest's "Test Mine
Ramp Cross Section Layout," visit the following link:
http://media3.marketwire.com/docs/ProposedMineDiagramGowest.pdf.)
Gowest Gold's President and CEO, Greg Romain, said, "These are highly
encouraging detailed infill drill results from our Frankfield East gold deposit,
which continue to confirm the continuity of the resource areas that we plan to
test mine in 2014. This is another important milestone in our mine planning and
development strategy and, in turn, will take us significantly closer to our goal
of bringing this deposit into production in 2015."
Table - Frankfield East Assay Results
----------------------------------------------------------------------------
From To
Drill Hole Zone (m) (m) Core Length (m) Avg. Grade (g/t Au)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
GW12-215 HW2 89.9 93.0 3.1 1.50
----------------------------------------------------------------------------
HW1 115.0 117.0 2.0 1.68
----------------------------------------------------------------------------
GW12-216 MZ1 160.8 163.5 2.7 5.75
----------------------------------------------------------------------------
GW12-217 MZ1 141.4 144.0 2.6 6.22
----------------------------------------------------------------------------
GW12-218 MZ2 128.0 129.7 1.7 1.02
----------------------------------------------------------------------------
MZ1 138.1 138.6 0.5 4.86
----------------------------------------------------------------------------
GW12-219 MZ2 124.6 128.0 3.4 3.38
----------------------------------------------------------------------------
GW12-220 HW1 91.0 92.6 1.6 13.76
----------------------------------------------------------------------------
MZ1 109.6 111.3 1.7 1.92
----------------------------------------------------------------------------
GW12-221 HW2 78.6 80.0 1.4 1.89
----------------------------------------------------------------------------
HW1 91.0 98.6 7.6 3.71
----------------------------------------------------------------------------
MZ1 120.2 122.9 2.7 3.17
----------------------------------------------------------------------------
GW13-222 HW2 121.1 122.8 1.7 2.09
----------------------------------------------------------------------------
HW1 149.9 150.9 1.0 1.21
----------------------------------------------------------------------------
MZ1 183.2 189.8 6.6 6.13
----------------------------------------------------------------------------
GW13-223 HW1 170.6 171.9 1.3 5.1
----------------------------------------------------------------------------
MZ2 187.0 190.5 3.5 8.45
----------------------------------------------------------------------------
MZ1 195.6 196.9 1.3 2.24
----------------------------------------------------------------------------
GW13-224 MZ2 207.0 210.0 3.0 2.66
----------------------------------------------------------------------------
MZ1 213.0 214.8 1.8 1.86
----------------------------------------------------------------------------
GW13-225 HW4 113.0 115.0 2.0 2.59
----------------------------------------------------------------------------
MZ2 202.0 204.0 2.0 2.83
----------------------------------------------------------------------------
MZ1 209.0 212.0 3.0 3.12
----------------------------------------------------------------------------
GW13-226 MZ2 200.2 212.5 12.3 5.42
----------------------------------------------------------------------------
GW13-227 MZ2 205.5 212.8 7.3 5.65
----------------------------------------------------------------------------
Reported intervals are downhole lengths and not true widths. High grade
assays are cut to 25 g/t Au.
Infill Holes GW12-215 to 219 tested the main zone of the Frankfield East gold
deposit at an approximate depth of 100 m below surface. Holes GW13-220 to
GW13-227 targeted the main zone, about 175 m below surface.
In addition to the infill drilling, Gowest Gold has undertaken an exploration
drilling program on the Tully North claim block of its NTGP. This program is
investigating historic reports of several gold values from drilling in the early
1980's, which included a reported intersection of 7.1 g/t Au over 1.5m. Reports
indicate gold mineralization is hosted in a broad zone of carbonated-silicified
basalts cut by ankerite veinlets and characterized by disseminated
arsenopyrite-pyrite, which is a similar environment to that hosting the
Frankfield East gold deposit. The Tully North claim block is 3 km northeast of
the Frankfield East gold deposit. A total of six holes for 2,401m were drilled
on the Tully North during March 2013 and assays are pending.
Quality Assurance & Quality Control: All drill core samples were photographed
prior to being split and logged. Sample intervals were determined based on
geological context and varied in length from 0.3 - 1.0m. Half of the split core
from each interval was bagged and delivered to the ALS Laboratory Group ("ALS")
preparation facility located in Timmins, Ontario.
All samples were prepared by ALS and analyzed for gold using fire assay
procedures with an Atomic Adsorption Spectroscopy ("AAS") finish in addition to
the completion of a multi-element ICP-AES scan. ALS's main North American assay
laboratory in Vancouver, British Columbia is accredited to ISO/IEC 17025:2005.
Qualified Person: This press release has been reviewed by Mr. Kevin Montgomery,
P.Geo., Gowest's Manager of Exploration and a Qualified Person under National
Instrument 43-101.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the
delineation and development of its 100% owned Frankfield East gold deposit, part
of the Company's North Timmins Gold Project (NTGP.) Gowest is exploring
additional gold targets on the 90-square-kilometre NTGP land package and
continues to evaluate the area, which is part of the prolific Timmins, Ontario
gold camp. The latest updated resource estimate for Frankfield East included
approximately 945,600 ounces of gold ("Au") in the Indicated category (6.0
million tonnes at a grade of 4.9 grams per tonne ("g/t") Au) and 536,800 ounces
of gold in the Inferred category (3.7 million tonnes at a grade of 4.2 g/t Au).
As was used in the Company's recent Preliminary Economic Assessment, the current
estimate is based on a 3.0 g/t Au cut-off and a conservative gold price of
US$1,200/oz. This resource estimate has been completed by Neil N. Gow, P. Geo.,
an independent Qualified Person, and reported in accordance with Canadian
Securities Administration National Instrument 43-101 ("NI 43-101") requirements
and CIM Standards on Mineral Resources and Reserves.
Forward-looking statements
This news release contains certain "forward-looking statements". Such
forward-looking statements involve risks and uncertainties. The results or
events depicted in these forward-looking statements may differ materially from
actual results or events. Any forward-looking statement speaks only as of the
date of this news release and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gowest Gold Ltd.
Greg Romain
President & CEO
(416) 363-1210
info@gowestgold.com
Gowest Gold Ltd.
Greg Taylor
Investor Relations
905 337-7673 or Mob: 416 605-5120
gregt@gowestgold.com
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