Gowest Gold Advances Frankfield East Gold Deposit to Production
06 Mayo 2013 - 7:30AM
Marketwired Canada
Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA) (OTCBB:GWSAF) is
pleased to announce assay results from an additional seven drill holes of a 2013
drilling program at its wholly-owned Frankfield East gold deposit, part of the
Company's North Timmins Gold Project (NTGP). The 1,097 metres ("m") of diamond
core drilling, conducted during the month of February, 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) include:
-- 9.72 grams per tonne ("g/t") gold ("Au") over 8.3 m (43.5 m to 51.8 m)
GW13-232
-- 5.12 g/t Au over 4.3 m (88.2 m to 92.5 m) GW13-233
-- 3.94 g/t Au over 5.7 m (189.0 m to 194.7 m) GW13-230
To date, 20 infill drill holes totalling 3,799 m have been completed on the
Frankfield East Deposit during the current drilling program, which began
December 5, 2012. All these infill drill holes have successfully intersected
gold mineralization at various shallow depths of less than 200 vertical m. The
results continue to confirm the good gold tenor and continuity of the resource
areas that Gowest plans to test mine in 2014 (see diagram below and Gowest press
release of April 8, 2013).
Table - Frankfield East Assay Results
----------------------------------------------------------------------------
Avg.
From To Core Grade
Drill Hole Zone (m) (m) Length (m) (g/t Au)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
GW13-228 HW1 149.9 150.6 0.7 5.08
----------------------------------------------------------------------------
GW13-229 HW1 187.0 188.0 1.0 1.77
----------------------------------------------------------------------------
MZ2 204.1 207.3 3.2 1.19
----------------------------------------------------------------------------
MZ1 218.0 220.6 2.6 3.44
----------------------------------------------------------------------------
GW13-230 MZ2 189.0 194.7 5.7 3.94
----------------------------------------------------------------------------
GW13-231 HW3 146.0 147.2 1.2 5.09
----------------------------------------------------------------------------
HW2 162.0 163.0 1.0 3.51
----------------------------------------------------------------------------
MZ2 207.0 208.5 1.5 2.31
----------------------------------------------------------------------------
GW13-232 MZ2 43.5 51.8 8.3 9.72
----------------------------------------------------------------------------
MZ1 60.0 64.0 4.0 2.79
----------------------------------------------------------------------------
GW13-233 MZ1 88.2 92.5 4.3 5.12
----------------------------------------------------------------------------
GW13-234 HW2 44.0 46.8 2.8 1.26
----------------------------------------------------------------------------
isolated 55.2 56.1 0.9 6.91
----------------------------------------------------------------------------
isolated 66.0 67.0 1.0 2.52
----------------------------------------------------------------------------
HW1 76.5 77.5 1.0 4.02
----------------------------------------------------------------------------
MZ2 86.0 87.0 1.0 1.95
----------------------------------------------------------------------------
Reported intervals are downhole lengths and not true widths. High grade assays
are cut to 25 g/t Au.
Infill Holes GW12-228 to -231 tested the main zone of the Frankfield East gold
deposit at an approximate depth of 175 m below surface. Holes GW13-232 to
GW13-234 targeted the Main Zone, about 75 m below surface (see diagram below).
Gowest is awaiting complete assay results from its exploration drilling program
on the Tully North claim block of its NTGP.
In conjunction with the infill drilling program, Gowest has completed
underground mine infrastructure plans (See diagram below) for the 2014 test
mining. Surface infrastructure to support the test mining phase is currently
being designed. Gowest has recently completed two steep drill holes for
hydrogeological testing, one through the circular ramp area of the proposed test
mine development workings and the second testing the main zones near the surface
in the ramp area. Packer tests were conducted at every 75 m or so down the holes
to determine the water flow through the rocks. All this engineering work, along
with the completed baseline environmental study, will be submitted in the coming
months to the appropriate government agencies as part of the Company's
application for a bulk sample/test mining permit.
Gowest President and CEO, Greg Romain, said, "The results from the detailed
infill drilling continue to be encouraging as we move forward to test mining in
2014. We are advancing the refurbishment plans with the third party processor in
the Timmins area, completing detail mining plans and mine closure permit, which
we anticipate having in place before the end of the year."
To view the Frankfield Deposit Main Zone 1 map, please visit the following link:
http://media3.marketwire.com/docs/506gwa_fig1.pdf
Gowest is also pleased to announce the recent expansion of the NTGP to cover a
total of 107 square-kilometres (10,696 hectares). In early April, an additional
six claims totalling 1,247 hectares were staked by Gowest at minimal costs on
the eastern portion of the NTGP.
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 107-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 / Mob: 416 605-5120
gregt@gowestgold.com
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