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Gowest Gold Ltd (2)
Symbol GWA
Shares Issued 494,884,140
Close 2023-09-14 C$ 0.10
Market Cap C$ 49,488,414
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Gowest Gold drills 2.6 m of 10.64 g/t Au at Bradshaw

2023-09-15 11:09 ET - News Release

Mr. Dan Gagnon reports

GOWEST GOLD ANNOUNCES INITIAL EXPLORATION DRILL RESULTS AT BRADSHAW

Gowest Gold Ltd. has released initial assay results from phase 1 of its previously announced surface diamond drill program at its 100-per-cent-owned Bradshaw gold mine. This first 5,000-metre program phase is part of a larger planned program that aims to expand the minable 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 previously been intercepted.

Diamond drilling highlights:

  • Results received by Sept. 1 from the first seven diamond drill holes, all of which intersected gold mineralization;
  • A total of 2,255 metres (m) of drilling has been completed as of Aug. 31, including 10 completed holes and one in progress;
  • Highest intercept: 10.64 grams per tonne (g/t) gold (Au) over 2.6 metres (m) from hole GW23-321, including 16.67 g/t Au over 1.5 m from the Bradshaw HAN zone;
  • Drilling on the HW2 zone also returned significant gold mineralization of 3.12 g/t Au over 1.8 m in hole GW23-320 and 2.71 g/t Au over 5.0 m (including 3.27 g/t Au over 2.50 m) in hole GW23-324;
  • Hole GW23-326 intersected 3.48 g/t Au over 2.0 m in the HW4 Bradshaw zone.

Dan Gagnon, president and chief executive officer of Gowest, commented: "These positive initial drill results continue to support our team's expectation that we will be able to expand our current minable resources and reserves at Bradshaw. At the same time, the mine restart is progressing very well. We remain on target on all fronts, including all production and key infrastructure programs, and anticipate starting the toll milling our ore at the Redstone mill in the fourth quarter of this year."

Overview

The phase 1 and 2 surface drilling program, which is expected to be completed in November, has progressed well since it commenced on June 20. A total of 2,255 m of drilling has been completed as of Aug. 31, consisting of 10 holes completed and one in progress.

The 10 holes were drilled on the eastern portion of the Bradshaw gold deposit. This work represents the initial phase of a 5,000-metre surface drill program. This phase is targeting the OB1, HAN, HW4, HW2 gold zones below the 80-metre mine level, to extend existing stopes.

The drill rig is currently drilling the 11th hole (GW23-330) and an additional three holes have been spotted in the field (2,056 m).

Two exploration permit applications submitted to the Ontario Ministry of Mines in May were approved in August. The permits are valid for three years and will allow diamond drilling of the west and east Bradshaw gold deposit strike extensions, the Sheridan gold zone area, the Dowe gold zone area, and the Roussain gold zone.

Technical details

Previous studies have stated: "Gold mineralization at the Bradshaw deposit occurs in an interlayered, steeply dipping and west-southwest-trending sequence of mafic volcanic rocks and ultramafic rocks of the Kidd-Munro assemblage. A potentially tectonically interleaved sequence of ultramafic rocks and turbidite sediments occurs to the assemblage or represent interflow units within the Kidd Munro assemblage; they have common pyrite nodules. The hosting mafic unit to the mineralization is 100 to 140 metres thick. The localization of veins in this unit likely reflects its more competent nature than the surrounding weaker ultramafic and sedimentary rocks and is typical of the thickness of ore-hosting mafic units at other deposits in the area, such as the Aunor-Delnite deposit in Timmins, which is also bounded by ultramafic units."

Mineralization at Bradshaw occurs in association with shear vein breccia containing quartz/carbonate/albite/sericite/tourmaline/sulphide. Vein network have a rhombic pattern and hosted within a mafic volcanic unit.

Quality control procedures

NQ drill core is oriented and cut with half sent to Activation Laboratories Timmins (Actlabs) for drying and crushing to minus two millimetres, with a riffle split 250 grams and pulverize (mild steel) to 95 per cent passing 105 mum (150 mesh). Actlabs is an ISO 17025 accredited laboratory. A 30-gram charge is fire assayed and analyzed using an AAS (atomic absorption spectrometry) 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 one-kilogram 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.

About Gowest Gold Ltd.

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100-per-cent-owned Bradshaw gold deposit on the Frankfield property, part of the corporation's North Timmins gold project.

Qualified person

The technical information in this news release has been reviewed and approved by Even Stavre, PGeo, Gowest's chief geologist, who is the qualified person for the technical information in this news release under National Instrument 43-101 standards.

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