Welcome To The Gowest Gold Ltd. HUB On AGORACOM

Delineation, development and mining of its 100% owned Frankfield East gold deposit, in the prolific Timmins, Ontario gold camp

Free
Message: Gowest Announces Latest Drill Results at Bradshaw

 

 
2019-06-27 07:40:44 AM ET (GlobeNewswire)
   
   

Gowest Gold Ltd. ("Gowest" or the "Corporation") (TSX VENTURE:GWA) is pleased to announce assay results from the recently completed multi-purpose drill program at its 100% owned Bradshaw Gold Deposit (Bradshaw) within the Company's North Timmins Gold Project (NTGP). The drill holes were designed to provide infill detail on stopes to be mined in the bulk sample area and to test recently identified, new high-grade gold zones to the north of the main deposit. This phase of the program included six holes and completed 1,024 metres (m) of underground drilling from the 45m Level.

Highlights:

-- Successfully intersected multiple gold horizons at north high-grade gold target

º 1.9 m of 11.54 grams per tonne (g/t) gold intersected in hole BGM19-045-033

â?¦ Including 1.5m grading 13.57 g/t gold

º And 4.0 m of 4.6 g/t gold also in hole BGM19-045-033

â?¦ Including 1.9 m grading 7.01 g/t gold

"We are very pleased with the results from the recent drilling at Bradshaw," said Greg Romain, Gowest's President and CEO. "Intersecting multiple gold horizons in a new area so close to the existing underground infrastructure speaks to the potential to add additional ounces to our resources and reserves at the project." He added, "We are planning to start the next phase of drilling at the new north gold target soon."

The north high-grade gold zone target was discovered in 2018 and is located approximately 25 m north of the Bradshaw Deposit. As previously announced, hole BGM17-045-012 intersected 4.2 m grading 20.91 g/t gold, including 1.9 m grading 42.15 g/t (see Gowest release dated February 12, 2018). Historical drilling at Bradshaw utilized southward oriented holes concentrated on the main zone mineralization, which is 150 to 200 m south of the north target area. Most historical holes were collared and started south of the new target zone, which has been confirmed with multiple northward oriented underground holes. Future drilling will define the extents of the North Bradshaw gold target in the vicinity of the underground drilling and aim to define a new mineral resource. The target area is open along strike and at depth. (See plan map below)

All six holes in the campaign provided infill detail at the Bradshaw Deposit within the area of the bulk sample. The holes intersected the gold mineralization as planned and two of the holes (BGM19-045-031 and BGM19-045-033) were drilled beyond the known deposit into the North Bradshaw gold target area. Both holes intersected multiple gold-bearing structures, which have the potential to add mineral resources to the Bradshaw deposit.

Figure 1. Plan map of Bradshaw Deposit with reported holes and North Bradshaw gold target: https://www.globenewswire.com/NewsRoom/AttachmentNg/422e2539-08cd-4e0d-90d9-ae3b3c7bb6e8

Table 1. Gold intersections

Hole ID       From (m) To (m) Interval (m) Au (g/t)
BGM19-045-031 9.0      9.9    0.9          2.31
and           12.9     13.2   0.3          1.95
and           43.3     43.8   0.5          9.48
and           54.3     54.9   0.6          6.23
and           72.7     73.1   0.4          4.41
and           79.3     80     0.7          6.80
and           93.4     93.9   0.5          3.65
and           99.9     100.4  0.5          4.32
and           187.2    187.8  0.6          2.83
and           195.0    197.4  2.4          1.15
and           206.3    208.2  1.9          1.79
and           280.7    281.5  0.8          7.02
BGM19-045-032 9.9      10.3   0.4          5.07
and           15.1     15.8   0.7          2.05
and           38.5     38.9   0.4          7.78
and           71.1     72.0   0.9          3.04
and           87.9     95.6   7.7          1.96
and           102.3    103.4  1.1          7.84
including     102.3    102.8  0.5          16.7
and           59.4     59.8   0.4          4.88
and           126.2    127.3  1.1          3.93
including     126.9    127.3  0.4          7.65
and           163.5    163.9  0.4          2.82
and           166.9    167.4  0.5          6.34
BGM19-045-033 3.2      3.6    0.4          8.31
and           25.0     25.7   0.7          10.1
and           47.8     48.2   0.4          12.8
and           75.9     76.4   0.5          7.9
and           79.5     81.1   1.6          8.23
Including     80.4     81.1   0.7          15.1
and           91.4     91.7   0.3          3.39
and           102.1    102.7  0.6          5.89
and           178.9    182.9  4.0          4.61
including     181.0    182.9  1.9          7
and           185.5    186.0  0.5          4.07
and           201.7    202.4  0.7          10.3
and           267.7    269.6  1.9          11.54
Including     267.7    269.3  1.6          13.57
and           281.9    282.3  0.4          9.33
BGM19-045-034 1.6      2.8    1.2          1.12
and           8.6      10.8   2.2          1.75
and           13.7     17.4   3.7          3.55
including     16.1     16.9   0.8          8.33
and           40.4     40.7   0.3          2.74
BGM19-045-035 25.1     26.5   1.4          5.9
including     26.0     26.5   0.5          13.4
and           30.4     31.5   1.1          4.12
BGM19-045-036 15.3     16.1   0.8          3.61
and           38.4     39.1   0.7          1.69

The above intervals reflect approximate true width of the mineralization. Reported gold values are uncapped.

Table 2. Hole location and direction

HOLE-ID       Easting Northing Elevation Dip Azimuth Length
BGM19-045-031 6,893.0 8,619.0  9,954.5   -30 12      297.0
BGM19-045-032 6,893.0 8,619.0  9,954.5   -26 25      178.0
BGM19-045-033 6,854.6 8,629.5  9,954.0   -38 2       287.6
BGM19-045-034 6,807.0 8,608.7  9,955.0   -22 8       117.0
BGM19-045-035 6,794.6 8,608.0  9,955.0   -10 255     43.6
BGM19-045-036 6,798.4 8,611.5  9,955.0   -8  330     100.2

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 Corporation's North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100â? squareâ? kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43â? 101 Indicated Resource estimated at 2.1 million tonnes ("t") grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Preâ? Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cutâ? off and ut ilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., Gowest's Director of Exploration, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards

Forward-Looking Statements

This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 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 Corporation 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 SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information please contact:

Greg Romain

President & CEO

Tel: (416) 363-1210

Email: info@gowestgold.com

Greg Taylor

Investor Relations

Tel: 416 605-5120

Email: gregt@gowestgold.com

Share
New Message
Please login to post a reply