Gold Stock News: Gowest Gold (TSXV: GWA) Provides Exploration Update on Phase 1 Diamond Drilling at Bradshaw
Toronto, Ontario - November 14, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Gowest Gold Ltd. (TSXV: GWA) ("Gowest" or the "Corporation") is pleased to provide an update on the latest assay results from Phase 1 of its previously announced surface diamond drill program at its 100% owned Bradshaw Gold Mine (Bradshaw.) This first 5,000-metre program phase, which is expected to be completed in mid-November, is part of a larger planned program aimed to expand the mineable resource at Bradshaw, as well as to further test other parts of the Corporation's North Timmins Gold Project ("NTGP"), area where notable gold has also previously been intercepted (see Gowest news releases dated September 15, 2023, June 26, 2023, June 1, 2020, and June 27, 2019).
Gowest Gold Ltd. (TSXV: GWA) ("Gowest" or the "Corporation") is pleased to provide an update on the latest assay results from Phase 1 of its previously announced surface diamond drill program at its 100% owned Bradshaw Gold Mine (Bradshaw.) This first 5,000-metre program phase, which is expected to be completed in mid-November, is part of a larger planned program aimed to expand the mineable resource at Bradshaw, as well as to further test other parts of the Corporation's North Timmins Gold Project ("NTGP"), area where notable gold has also previously been intercepted (see Gowest news releases dated September 15, 2023, June 26, 2023, June 1, 2020, and June 27, 2019).
Planning was carried out at the end of October for a $10,000,000 exploration program on the NTGP, with the funds to be split evenly between underground drilling and surface exploration. The surface drilling program, budgeted at $5 million, is mainly to entail diamond drilling. A total of 16,500 m is planned for the central to western portion and the depth extension of the Bradshaw deposit (10,000 m), the Sheridan Zone (2,500 m), the Roussain Zone (2,500 m) as well as Induced Polarization (IP) targets (1,500 m). An IP geophysical survey is also planned for the surface exploration program to generate new targets on the NTGP area.
Quality Control Procedures
NQ drill core is oriented and cut with half sent to Activation Laboratories Timmins (Actlabs) for drying and crushing to -2 mm, with a riffle split 250g and pulverized (mild steel) to 95% passing 105μm (150 mesh). Actlabs is an ISO 17025 accredited laboratory. A 30g charge is Fire Assayed and analyzed using an AAS finish for Gold. Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold by Metallic Screen Fire Assay on a 1.00 kg sample. Gowest inserts independent certified reference material and blanks with the samples and assays routine pulp repeats, as well as completing routine third-party check assays at a third-party laboratory.
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 +100‐square‐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 43‐101 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 Pre‐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 cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
The technical information in this news release has been reviewed and approved by Even Stavre, P.Geo., Gowest's Chief Geologist, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include, without limitation, statements relating to the use of the proceeds of the Offerings, the potential for to raise additional proceeds from the exercise of Warrants, and the proposed activities of the Corporation at Bradshaw. Words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "potential" and similar expressions may be used to identify these forward-looking statements although not all forward-looking statements contain such words.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including those risk factors set forth in the Corporation's management's discussion and analysis and other filings available via the System for Electronic Document Analysis and Retrieval (SEDAR) under the Corporation's profile at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this press release and, other than as required by law, the Corporation does not intend to or assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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President & CEO
Tel: (416) 363-1210
Tel: (416) 605-5120
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