Gowest Provides Update on Bradshaw Gold Deposit
04 Febrero 2014 - 6:57AM
Marketwired
Gowest Provides Update on Bradshaw Gold Deposit
Final Results for 2013 Infill Drill Program & Advanced
Exploration Permit
TORONTO, ONTARIO--(Marketwired - Feb 4, 2014) - Gowest Gold Ltd.
("Gowest" or the "Company") (TSX-VENTURE:GWA)(OTCBB:GWSAF) is
pleased to provide an update on the final results for the infill
drill program in 2013 and advanced exploration and mine permit
application at its wholly-owned Bradshaw Gold Deposit (Bradshaw) on
the Frankfield Property, part of the Company's North Timmins Gold
Project (NTGP).
HIGHLIGHTS
- 2013 infill core drilling program at the Bradshaw Gold Deposit
completed and all gold results received for final 30 holes
totalling 4,601 metres ("m");
- Infill drilling results provide greater confidence in current
mine development planning with drill hole spacing of 15-20 m in
select areas;
- Advanced exploration permit application progressing well with
the completion of a geo-environmental field investigation at
Bradshaw;
- Option and Joint Venture Agreement with Transition Metals Corp.
("TMC") amended.
INFILL DRILLING
Gowest completed 30 holes for 4,601 m of infill diamond core
drilling in late fall, 2013. All logging and geophysical data
collection on the core has been completed and all gold analytical
results have been received from this drilling.
Highlights from the final holes of this program (see Table)
include:
- 10.66 grams per tonne ("g/t") gold ("Au") over 1.8 m (Depth:
212.5 m to 214.3 m) GW13-270
- 10.45 g/t Au over 1.7 m (162.2 m to 163.9 m) GW13-267
- 7.75 g/t Au over 3.4 m (67.1 m to 70.5 m) GW13-272
- 7.08 g/t Au over 3.7 m (75.3 m to 79 m) GW13-272
- 5.85 g/t Au over 6.9 m (54.3 m to 61.2 m) GW13-263
- 5.78 g/t Au over 5.9 m (62.9 m to 68.8 m) GW13-271
The results of this drilling program are being compiled and used
to optimize the bulk sampling and subsequent test mining the
Company plans to initiate at Bradshaw in 2014.
Table - Bradshaw Deposit Assay Results |
|
Drill Hole |
Zone |
From (m) |
To (m) |
Core length (m) |
Avg Grade (g/t Au) |
GW13-263 |
HW3 |
20.5 |
21.3 |
0.8 |
2.32 |
|
HW1 |
54.3 |
61.2 |
6.9 |
5.85 |
|
Inc |
54.3 |
57.2 |
2.9 |
8.20 |
|
MZ2 |
64.0 |
66.0 |
2.0 |
3.19 |
|
MZ1 |
70.4 |
78.1 |
7.7 |
1.62 |
GW13-264 |
MZ2 |
124.2 |
125.2 |
1.0 |
1.83 |
GW13-265 |
HW1 |
173.8 |
175.4 |
1.6 |
3.08 |
|
MZ2 |
180.8 |
182.8 |
2.0 |
1.21 |
|
MZ1 |
190.1 |
191.8 |
1.7 |
2.35 |
GW13-266 |
HW2 |
112.3 |
115.3 |
3.0 |
2.60 |
|
HW1 |
142.4 |
143.7 |
1.3 |
3.47 |
|
MZ2 |
152.7 |
153.8 |
1.1 |
3.77 |
|
MZ1 |
184.9 |
185.8 |
0.9 |
1.16 |
GW13-267 |
HW4 |
92.4 |
93.3 |
0.9 |
2.21 |
|
HW1 |
162.6 |
166.8 |
4.2 |
6.12 |
|
Inc |
162.2 |
163.9 |
1.7 |
10.45 |
|
MZ1 |
210.3 |
212.3 |
2.0 |
2.59 |
GW13-268 |
HW2 |
44.9 |
46.5 |
1.6 |
5.12 |
|
MZ1 |
97.9 |
99.6 |
0.7 |
1.56 |
GW13-269 |
HW2 |
105.8 |
107.4 |
1.6 |
3.70 |
|
HW1 |
141.4 |
143.8 |
2.4 |
2.46 |
|
MZ2 |
157.8 |
161.5 |
3.7 |
4.62 |
|
MZ1 |
167.2 |
168.1 |
0.9 |
7.81 |
GW13-270 |
HW4 |
122.8 |
125.0 |
2.2 |
1.60 |
|
HW1 |
181.0 |
185.2 |
4.2 |
4.84 |
|
MZ2 |
205.0 |
218.8 |
13.8 |
2.89 |
|
Inc |
212.5 |
214.3 |
1.8 |
10.66 |
|
MZ1 |
230.0 |
232.0 |
2.0 |
1.18 |
GW13-271 |
MZ2 |
62.9 |
68.8 |
5.9 |
5.78 |
|
Inc |
67.1 |
68.8 |
1.7 |
10.38 |
|
MZ1 |
84.0 |
84.7 |
0.7 |
8.50 |
GW13-272 |
HW3 |
17.4 |
20.4 |
3.0 |
1.10 |
|
HW1 |
58.7 |
63.5 |
4.8 |
4.63 |
|
Inc |
58.7 |
59.8 |
1.1 |
13.80 |
|
MZ2 |
67.1 |
70.5 |
3.4 |
7.75 |
|
Inc. |
76.4 |
78.0 |
1.6 |
10.40 |
|
MZ1 |
75.3 |
79.0 |
3.7 |
7.08 |
GW13-273 |
MZ2 |
128.8 |
132.5 |
4.3 |
2.68 |
|
MZ1 |
144.2 |
149.6 |
5.4 |
2.83 |
GW13-274 |
HW3 |
126.5 |
127.5 |
1.0 |
5.49 |
|
MZ2 |
176.0 |
180.6 |
4.6 |
4.40 |
|
MZ1 |
201.0 |
201.9 |
0.9 |
2.42 |
GW13-275 |
HW1 |
174.4 |
176.9 |
2.5 |
4.94 |
|
MZ2 |
202.1 |
208.0 |
5.9 |
2.91 |
|
Intervals are downhole lengths and not true widths. |
This infill drilling was carried out over a 260 m strike length
of the M1, M2 and HW1 zones (486560 to 486820E) and straddled the
proposed centre of the advanced exploration circular ramp (see
updated Test Mine Layout diagram below). The drilling extended to a
maximum vertical depth of 200 m below surface, the bottom of the
proposed advanced exploration circular ramp. The density has now
increased to a drill hole spacing of 15-20 m in select areas. Assay
results will aid in determining the gold mineralized areas for test
mining during the proposed underground advanced exploration
stage.
ADVANCE EXPLORATION & MINE CLOSURE PLAN
In late 2013, a geo-environmental drilling and test pitting
program was carried out east of the proposed ramp portal location
at Bradshaw. The drilling consisted of six auger holes that tested
the overburden and the top 3 m of bedrock. The test pitting was
comprised of six shallow overburden pits dug by a backhoe. This
program was completed for the geotechnical investigation of the
proposed waste rock stock piles, overburden stock piles, run-off
and polishing pond locations. It is part of the advanced
exploration and mine closure plan permit application process for
mining the deposit which is well underway with the current plan to
have the application submitted at the end of Q1 2014.
AMENDING TRANSITION METALS OPTION AND JOINT-VENTURE
AGREEMENT
In addition to the above, Gowest is also pleased to report that
it has amended its Option and Joint Venture Agreement with
Transition Metals Corp. ("TMC"), dated April 25, 2011, (see Gowest
announcement dated April 26, 2011) pursuant to which Gowest can
earn an initial 60% interest and up to a 75% interest in
approximately 3400 hectares (34 square kilometres) in the Porcupine
mining district (the "Pipestone Property"). Specifically, TMC has
agreed to extend the period during which Gowest can earn its
initial 60% interest in the Pipestone Property by one year, in
exchange for the issuance and payment to TMC of 100,000 common
shares of Gowest. Gowest will now have until April 25, 2015 to
satisfy its obligations to earn its initial interest in the
Pipestone Property.
To view the map associated with this press release, please visit
the following link:
http://media3.marketwire.com/docs/GWAImage1_020414.jpg.
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
Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part
of the Company's North Timmins Gold Project (NTGP). Gowest is
exploring additional gold targets on its 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 Bradshaw 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 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.
NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Gowest Gold Ltd.Greg RomainPresident & CEO(416)
363-1210info@gowestgold.comGowest Gold Ltd.Greg TaylorInvestor
Relations905 337-7673 or Mobile: 416
605-5120gregt@gowestgold.com
Gowest Gold (TSXV:GWA)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Gowest Gold (TSXV:GWA)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024