|
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: [email protected]
Greg Taylor
Investor Relations
Tel: 416 605-5120
Email: [email protected]
|
