Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Commentary and Educational Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Gowest Gold Intersects 66.7 g/t (2.14 oz/t) Gold Over 2.5 Metres From Advanced Exploration Drilling at Bradshaw

TORONTO, ONTARIO, Nov 29, 2017 (Marketwired via COMTEX) --

TORONTO, ONTARIO--(Marketwired - Nov. 29, 2017) - Gowest Gold Ltd. (TSX VENTURE:GWA) (the "Company") is pleased to report the first assay results from the recently completed underground infill drilling program at the Bradshaw Gold Deposit ("Bradshaw"). Results have been received from 17 of the 29 holes drilled in this campaign, and assay results from the remaining holes are expected in the coming weeks. (see tables below)

Highlights include:

Hole BGM17-045-015 intersected 156 grams per tonne (g/t) (5.02 oz/t) gold (Au) over 1 metre (m) This is the highest gold sample intersected to date at the project

This is the highest gold sample intersected to date at the project

Located within 2.5m grading 66.7 g/t (2.14 oz/t) Au

Hole BGM17-045-004 intersected 1.75 m grading 11.0 g/t (0.35 oz/t) Au, including 0.5 m grading 26.5 g/t (0.85 oz/t) Au

Hole BGM17-045-014 intersected 1.05 m grading 16.4 g/t (0.53 oz/t)Au including 0.5 m grading 32.2 g/t (1.04 oz/t) Au

"We are extremely pleased with the results of this infill drilling campaign," said Gowest President and CEO, Greg Romain. "We have seen evidence for years indicating that Bradshaw has not yet revealed its full potential. In intersecting the highest ever gold values, we feel we have clearly demonstrated the significant upside of our project and are still further encouraged about the coming results of our bulk sample program."

The infill underground drill program is being conducted as part of the Company's plan to gather as much information on the deposit as possible, including tightening the drill spacing in order to increase the technical team's detailed knowledge of the mineralized structures. Twenty-nine (29) holes have been completed so far for a total of 3,604 metres, reducing the distance between drill holes in the area of the advanced exploration bulk sample to between 12.5 and 20 m. As expected, all holes intersected gold mineralization to contribute to the geological model supporting the bulk sample.

In addition to the infill drilling, one exploration hole is in progress to test an area directly north of the bulk sample where historical drilling indicated potential for a new gold zone.

In order to confirm these exceptional results, the Company completed check assays on the remaining pulp and coarse rejects from the material retrieved from Hole BGM17-045-015. A second assay of the pulp returned 119 g/t gold, while five new samples from the remaining material from sample preparation resulted in values ranging between 99.3 g/t and 183 g/t, with an average value of 136.9 g/t gold.

Advanced Exploration Bulk Sample Program

As previously announced, the Company is currently advancing underground development at Bradshaw in preparation for the extraction of up to a 30,000-tonne bulk sample. The bulk sample is being taken from an area of the deposit closest to the portal opening and targets a cut off of 3 g/t gold. The ore will be sorted (see Gowest news release dated September 27, 2017) at the Bradshaw site to increase the head grade to the mill by removing non-mineralized material. Enhanced ore will be trucked to the Liberty Mill where a saleable concentrate will be produced. It is anticipated that the first ore shipment to the mill will commence next month.

Table 1. Gold intersections

Hole            From     To       Length   Au (g/t)
BGM17-045-001   65.70    66.00    0.30     12.0
and             97.75    98.30    0.55     3.92
and             106.25   106.80   0.55     7.61
and             108.60   109.25   0.65     5.26
BGM17-045-002   81.00    83.00    2.00     5.02
including       81.00    81.50    0.50     18.9
and             115.50   115.80   0.30     11.0
and             136.20   136.60   0.40     4.19
and             154.80   155.25   0.45     3.70
and             214.50   220.00   5.50     3.26
and             225.00   226.70   1.70     4.46
BGM17-045-003   75.50    77.00    1.50     3.66
including       76.40    77.00    0.60     7.14
and             127.25   127.55   0.30     5.17
and             220.40   221.20   0.80     9.2
BGM17-045-004   84.75    86.50    1.75     11.0
including       86.00    86.50    0.50     26.5
and             116.80   117.10   0.30     3.29
and             122.30   122.60   0.30     3.69
and             173.30   176.50   3.20     10.0
including       173.30   174.00   0.70     20.1
including       175.50   176.00   0.50     19.3
BGM17-045-005   79.80    80.20    0.40     3.71
and             98.50    98.80    0.30     7.26
and             116.10   116.40   0.30     6.76
BGM17-045-006   57.30    58.60    1.30     6.8
and             90.50    91.75    1.25     6.6
BGM17-045-007   99.95    101.85   1.90     5.7
including       99.95    100.35   0.40     15.4
BGM17-045-008   46.90    49.40    2.50     8.1
including       48.00    49.00    1.00     13.7
and             64.50    66.50    2.00     5.5
including       65.50    66.00    0.50     13.4
BGM17-045-009   95.10    95.70    0.60     3.99
and             100.60   101.20   0.60     11.2
and             104.10   104.60   0.50     3.34
BGM17-045-010   62.00    65.00    3.00     4.2
including       62.70    63.20    0.50     15.9
and             91.50    93.80    2.30     3.9
including       93.15    93.80    0.65     10.9
BGM17-045-011   65.20    65.50    0.30     30.3
and             97.80    98.10    0.30     8.13
BGM17-045-012   77.00    77.50    0.50     3.58
and             96.00    98.50    2.50     7.8
including       97.15    97.50    0.35     18.7
including       98.00    98.50    0.50     16.2
BGM17-045-013   56.00    60.00    4.00     4.21
and             64.80    65.20    0.40     6.36
and             94.00    96.00    2.00     7.83
including       95.40    96.00    0.60     18.5
and             126.00   126.50   0.50     9.93
BGM17-045-014   59.20    59.80    0.60     6.95
and             95.10    96.15    1.05     16.4
including       95.10    95.60    0.50     32.2
and             119.00   120.00   1.00     4.02
BGM17-045-015   73.00    75.50    2.50     66.7
including       73.00    74.00    1.00     156.0
and             90.80    91.40    0.60     6.40
and             107.90   108.40   0.50     8.99
and             127.25   127.55   0.30     4.92
BGM17-045-016   69.50    71.00    1.50     5.08
including       69.95    70.35    0.40     15.6
and             105.00   107.65   2.65     6.96
including       105.45   106.15   0.70     25.0
BGM17-045-017   80       80.7     0.7      8.09
and             106.6    107      0.4      15.6

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

Table 2. Hole location and direction

Hole Name       Easting   Northing    Elevation   Length   Collar Dip   Collar Azimuth
BGM17-045-001   486,963   5,398,768   248         141      11           163.1
BGM17-045-002   486,960   5,398,768   248         249      2.4          224.8
BGM17-045-003   486,960   5,398,768   248         249      5.6          226.1
BGM17-045-004   486,960   5,398,768   247         197      -9.4         210
BGM17-045-005   486,961   5,398,768   247         183      -12.9        204.2
BGM17-045-006   486,963   5,398,768   247         145      -10.7        150.2
BGM17-045-007   486,961   5,398,768   247         152      -2.2         198.2
BGM17-045-008   486,882   5,398,768   245         61       -28.9        162.3
BGM17-045-009   486,961   5,398,768   248         157      4.2          193.7
BGM17-045-010   486,961   5,398,768   248         160      10.6         186.2
BGM17-045-011   486,960   5,398,768   248         103      11           209.4
BGM17-045-012   486,962   5,396,767   247         139      -7.3         176.6
BGM17-045-013   486,962   5,398,768   248         139      4.8          174.1
BGM17-045-014   486,961   5,398,768   248         142      9.9          173
BGM17-045-015   486,961   5,398,768   247         166      -12.6        194.7
BGM17-045-016   486,962   5,398,768   248         148      1            167
BGM17-045-017   486,962   5,398,768   247         134      -17.4        177

Please visit our website (www.gowestgold.com) for photographs of the ongoing development at Bradshaw and to review our corporate presentation.

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 +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, totalling 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 Company 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 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 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.

Gowest Gold Ltd. Greg Romain President & CEO (416) 363-1210 info@gowestgold.com Gowest Gold Ltd. Greg Taylor Investor Relations (416) 605-5120 gregt@gowestgold.com

© 2017 Nasdaq, Inc. All rights reserved.

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Lt Crude 57.54
Nat Gas 2.709
Corn 348 6/8
Cotton #2 73.67
Gold 1243.4
Copper 3.0535
Euro 1.17505
USD Index 93.990
SP500 E-mini 2668.50
DJIA E-mini 24560
close_icon
open_icon