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Gowest Gold Provides the 2nd Exploration Update on Its Phase 2 Diamond Drilling Program

13.05.2024  |  Newsfile

Toronto, May 13, 2024 - Gowest Gold Ltd. (TSXV: GWA) ("Gowest" or the "Corporation") is pleased to provide a further update on the latest assay results from Phase 2 of its previously announced surface diamond drill program at its 100% owned North Timmins Gold Project ("NTGP"). This latest work is part of the $10 Million exploration program phase, which aims to expand the mineable resource at the Bradshaw Gold deposit ("Bradshaw"), as well as to further test other parts of the Corporation's NTGP area where notable gold has also been intercepted previously (see Gowest news releases dated December 27, 2023 and March 1, 2024)

Diamond Drilling Highlights Since Last Update

  • A total of 12,769 meters (m) of drilling has been completed as of April 30th, including 32 completed holes and two holes in progress on the Sheridan gold zone and west of Bradshaw.
  • Highest intercept: 13.6 grams per tonne (g/t) gold (Au) over 1.1 m from hole GW23-352, including 2.06 g/t Au over 0.6 m from the Bradshaw HW8 zone.
  • Other significant gold mineralization: 5.27 g/t Au over 2.6 m (including 22.3 g/t Au over 0.6 m) in Hole GW23-346 on the HW7 zone, and 23.2 g/t Au over 1.5 m in hole GW24-351A on newly discovered HW10 zone.

Dan Gagnon, President and Chief Executive Officer of Gowest, said, "As we have seen throughout this extensive drill program, our team has steadily revealed more and more gold mineralization both at Bradshaw and across a number of other areas on our NTGP. We remain confident that we will further expand our resources, including the very real potential to develop more than one important new mine on our property in the Timmins gold camp. Meanwhile, we are also planning for the restart of underground mining at Bradshaw soon."

Technical Overview-Phase 2:

The Phase 2 surface drilling program is expected to be completed in November 2024. This exploration drilling program is targeting the Bradshaw deposit, the Sheridan Zone, and the Roussain Zone. (See Figures 1, 2 and 3). A total of 12,769 m of drilling has been completed as of April 30th since the start of Phase 2 drilling program, consisting of a total of 32 finished holes (see Table 3 below) and two holes in progress. Gold results have been received from 29 drill holes by April 30th. (See Tables 1 and 2.)



Figure 1: Timmins North Gold Project Geology and Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4591/208894_8de6cc4e249aa868_001full.jpg



Figure 2: Plan Map showing Geophysical Survey HeliTEM for Bradshaw deposit and Sheridan Zone drill intercepts for April 2024.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4591/208894_8de6cc4e249aa868_002full.jpg



Figure 3. Plan Map showing Geophysical Survey HeliTEM for Roussain Zone intercepts for April 2024.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4591/208894_8de6cc4e249aa868_003full.jpg

Table 1: Phase 2 Current Drill Hole Details April 30th

Drill Hole Easting Northing Elevation Azimuth Dip Length Domain
(No.) (Nad 83 m) (Nad 83 m) (masl) (°) (°) (m)
GW23-336 486400.0 5398837 297 167.0 -64.8 512 Bradshaw
GW23-337 486567.5 5399015.2 291 174.0 -59.0 617 Bradshaw
GW23-338 486694.6 5398680.8 291.5 172.0 -72.0 406 Bradshaw
GW23-339 486491.6 5398857.4 290 174.0 -65.7 509 Bradshaw
GW24-340 486638.5 5398889.6 291 150.6 -54.2 419 Bradshaw
GW24-341 486643.9 5398949.8 290 157.6 -60.8 496 Bradshaw
GW24-342 486567.4 5399031.5 272 148.9 -57.8 582 Bradshaw
GW24-343 488579.1 5401405.5 290 223.8 -54.3 296 Roussain
GW24-344 488651.2 5401478.1 290 222.8 -63.9 384 Roussain
GW24-345 488520.0 5401490.0 290 220.0 -67.5 344 Roussain
GW24-346 486705.5 5398986.4 290 175.7 -66.1 523 Bradshaw
GW24-347 486433.2 5398794.4 290 174.8 -59.6 425 Bradshaw
GW24-348 486434.5 5398916.8 290 173.5 -72.5 653 Bradshaw
GW24-349 486789.7 5398962.2 290 176.2 -66.4 508 Bradshaw
GW24-350 486518.0 5398937.2 290 159.2 -60.9 544 Bradshaw
GW24-351 486630.2 5398862.7 290 157.9 -64.0 448 Bradshaw
GW24-351A 486630.2 5398862.7 290 157.9 -64.0 448 Bradshaw
GW24-352 486594.0 5399060.7 290 160.6 -64.5 709 Bradshaw
GW24-353 488845.0 5401170.0 290 225.0 -57.0 430 Roussain
GW24-354 488655.0 5401351.0 290 225.0 -62.0 300 Roussain
GW24-355 485377.0 5398811.0 290 149.7 -54.7 348 Sheridan
GW24-356 485376.5 5398810.8 290 123.7 -54.4 310 Sheridan
GW24-357 485333.0 5398795.0 290 150.2 -50.9 316 Sheridan
GW24-358 485317.4 5398891.0 290 143.3 -55.9 366 Sheridan
GW24-359 485488.6 5398812.8 290 145.8 -62.7 290 Sheridan
GW24-360 485529.0 5398823.4 290 145.6 -59.1 214 Sheridan
GW24-337X 486567.5 5399015.2 -113.4 174.0 -59.0 100 Bradshaw
GW24-361 486567.5 5399015.2 290 176.2 -66.4 508 Bradshaw
GW24-366 486100.0 5398560.0 290 177.0 -59.9 248 Bradshaw
GW24-365* 486272.2 5398563.5 290 180.2 -57.1 126 Bradshaw
GW24-363 486330.5 5398580.9 290 177.4 -50.4 202 Bradshaw
GW24-367* 485313.0 5398817.0 290 150.6 -62.1 189 Sheridan


*in progress

Bradshaw deposit:
A total of 8,982m of drilling have been completed at Bradshaw as of April 30th since the start of Phase 2, with 19 holes completed and one, GW24-365, in progress. The holes were drilled on the eastern portion and north of the Bradshaw Gold Deposit.

This latest drilling at Bradshaw has returned encouraging results. Recent intercepts have an average core length of 0.8m within mineralized zones. Gold values were up to 23.2g/t Au over 0.6m in hole GW24-351A in the newly discovered HW10 mineralized quartz vein zone. A thicker intercept was recorded in hole GW24-351A with 5.53g/t Au over 2.8m in the HW1 quartz vein zone.

Eight new mineralized zones were encountered in Bradshaw where one significant new zone intercepted 7.53g/t Au over 1.5m in hole GW24-350. Three out of seven holes drilled at Bradshaw in April have completed the assay results-GW24-350, GW24-351A, GW24-352. (See Table 2.)

Roussain gold zone:
The Roussain gold zone is part of a NW-SE-trending deformation zone with an intense hydrothermal alteration often with significant secondary sulphide mineralized quartz/carbonate veining. The Roussain zone is hosted in tholeiite flows and marks up the contact between mafic metavolcanics and intercalating sequence of epiclastic and volcanoclastic sediments.

A total of five holes and 1,754m have been completed to date at the Roussain zone. The drill rig has been de-mobilized from this zone due to drill access constraints and the river crossing. Roussain zone drilling is expected to resume in the early winter of 2024. The highest gold intercept at the Roussain zone was encountered in hole GW24-344, which returned 4.15g/t Au over 0.6m. The thickest mineralization was intercepted in hole GW24-343, which returned 3.29g/t Au over 1.35m. (See Table 3)

Sheridan Zone:
The Sheridan gold zone is hosted in a carbonate, hematite and sericite altered shear zone within a sequence of tholeiitic basalt flows. The shear zone strikes N086°E and dips 75° to the north. Sheridan is a sulphide mineralized zone of 3-5% disseminated pyrite and very fine-grained arsenopyrite, with quartz vein flooding.

At the Sheridan zone, the Orbit team drilled a total of 2,033m in six holes, with one hole in progress (GW24-367) as of April 30th. Rig SH-81 is currently drilling hole GW24-367. Two more holes for a total of 400m are planned for Sheridan Zone. (See Table 3.)

Table 2: Drill Hole Gold Intersections in the Bradshaw Deposit

Hole ID From To Length Au














































Hole ID From To Length Au
GW24-346 188.5 190 1.5 1.99 GW24-350 275 276 1 4.41
Incl. 188.5 189.5 1 1.07 GW24-350 278.1 280.65 2.55 2.26
189.5 190 0.5 1.92 Incl. 278.1 279 0.9 4.06
GW24-346 398.8 399.65 0.85 2.33 279 280 1 1.25
GW24-346 418 419 1 2.19 280 280.65 0.65 1.34
GW24-346 423.9 424.7 0.8 2.84 GW24-350 286.95 288.4 1.45 7.53
GW24-346 445.65 447.9 2.25 5.25 Incl. 286.95 288 1.05 9.08
Incl. 445.65 446.3 0.65 3.34 288 288.4 0.4 1.85
446.3 446.8 0.5 2.3 GW24-350 371.8 372.1 0.3 2.58
446.8 447.9 1.1 7.72 GW24-350 386.9 387.4 0.5 9.42
GW24-346 451.85 453.85 2 6.54 GW24-350 435.55 436.1 0.55 1.06
Incl. 451.85 453 1.15 9.99 GW24-350 449.7 450.7 1 2.89
453 453.85 0.85 1.89 Incl. 449.7 450.3 0.6 1.81
GW24-346 471.2 472 0.8 2.36 450.3 450.7 0.4 4.51
GW24-346 473 475.6 2.6 12.61 GW24-350 457 459 2 2.36
Incl. 473 474 1 3.74 Incl. 457 457.65 0.65 1.44
474 474.4 0.4 3.18 457.65 458.05 0.4 3.24
474.4 475 0.6 22.3 458.05 458.5 0.45 1.58
475 475.6 0.6 24 458.5 459 0.5 3.55
GW24-346 532 533 1 3.1 GW24-350 460.65 462 1.35 4.97
GW24-346 537 538.25 1.25 6.19 Incl. 460.65 461.2 0.55 3.08
GW24-346 547.25 552 4.75 4.17 461.2 462 0.8 6.28
Incl 547.25 548.05 0.8 6.49 GW24-350 463.9 465.6 1.7 7.65
548.05 549 0.95 5.08 Incl. 463.9 464.35 0.45 4.72
549 550 1 1.87 464.35 465 0.65 1.25
550 551 1 2.38 465 465.6 0.6 16.8
551 552 1 5.58 GW24-351A 231 231.6 0.6 23.2
GW24-346 554 555 1 1.43 GW24-351A 236 236.8 0.8 2.1
GW24-347 129 130 1 2.96 GW24-351A 393.8 394.3 0.5 4.92
GW24-347 234.85 236 1.15 1.25 GW24-351A 400 402 2 1.67
GW24-347 260.5 260.8 0.3 3.5 Incl. 400 400.8 0.8 1.97
GW24-347 402 403 1 10.4 400.8 402 1.2 1.48
GW24-348 106 107 1 1.09 GW24-351A 407.2 410 2.8 5.53
GW24-348 206 209 3 3.13 Incl. 407.2 407.7 0.5 9.08
Incl. 206 207 1 4.8 407.7 408.2 0.5 7.31
207 207.4 0.4 2.38 408.2 409 0.8 2.75
207.4 208 0.6 2.26 409 410 1 5.1
208 209 1 2.29 GW24-352 115 115.8 0.8 1.89
GW24-348 385.15 386 0.85 1.13 GW24-352 502.1 502.7 0.6 4.26
GW24-348 390.1 390.6 0.5 4.9 GW24-352 559.7 560.8 1.1 13.6
GW24-348 529.5 530 0.5 3.53 Incl. 559.7 560.3 0.6 7.77
GW24-348 602 604 2 4.9 560.3 560.8 0.5 20.6
Incl. 602 603 1 5.95 GW24-352 577.3 578.3 1 4.26
603 604 1 3.85 GW24-352 607.6 608.1 0.5 7.96
GW24-348 640 648 8 2.75 GW24-352 640.7 640.8 0.1 2.31
Incl. 640 641 1 3.9 GW24-352 649.9 650.5 0.6 1.28
642 643 1 7.78 GW24-352 659 660 1 1.07
643 644 1 3.65
644 645 1 1.71
646 647 1 3.61
647 648 1 1.07
GW24-349 430.2 431.1 0.9 1.64
GW24-349 432 432.5 0.5 9.71
GW24-349 435.5 437 1.5 1.28
Incl. 435.5 436 0.5 1.1
436 436.5 0.5 1.59
436.5 437 0.5 1.15
GW24-349 473.2 474 0.8 7.49


Note This table lists intersections in core length.

Table 3: Drill Hole Gold Intersections in Roussain and Sheridan Zones

Hole ID From To Length Au Domain
GW24-343 132.65 133.6 0.95 1.26 Roussain
GW24-343 201.45 202.8 1.35 3.29 Roussain
Incl. 201.45 202.1 0.65 3.61 Roussain
202.1 202.8 0.7 3
GW24-343 299 300.1 1.1 1.1 Roussain
GW24-343 228 230 2 1.96 Roussain
Incl. 228 229 1 2.89 Roussain
229 230 1 1.03
GW24-344 291 293 2 2.24 Roussain
Incl. 291 292 1 2.21 Roussain
292 293 1 2.27
GW24-344 294 295.2 1.2 2.59 Roussain
Incl. 294 294.6 0.6 1.04 Roussain
294.6 295.2 0.6 4.15
GW24-353 116 118.1 2.1 0.91 Roussain
Incl. 116 117 1 0.92 Roussain
117 118.1 1.1 0.905
GW24-353 166.5 167 0.5 1.0 Roussain
GW24-354 188 189 1 1.33 Roussain
GW24-357 114.2 114.85 0.65 9.09 Sheridan
GW24-355 117 118.1 1.1 5.02 Sheridan
Incl. 117 117.55 0.55 1.66 Sheridan
117.55 118.1 0.55 8.38
GW24-355 119 119.6 0.6 2.21 Sheridan
GW24-356 94.45 95.2 0.75 1.25 Sheridan
GW24-356 275.45 275.95 0.5 1.28 Sheridan


Note This table lists intersections in core length.

Quality Control Procedures

As of April 30th, 5,041 samples from 32 holes have been sent to Activation Laboratories Timmins for gold analysis. In addition, 138 pulp samples have been sent to a secondary lab (Bureau Veritas) for gold analysis checking as part of industry standard QA/QC procedures.

NQ drill core is oriented and cut in half, then 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 30 g 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 independently 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

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.

Qualified Person

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.

Forward-Looking Statements

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.sedarplus.ca. 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.

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:

Dan Gagnon
President & CEO
Tel: (416) 363-1210
Email: info@gowestgold.com

Greg Taylor
Investor Relations
Tel: (416) 605-5120
Email: greg.taylor@gowestgold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208894


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