www.gowestgold.com
Gowest is a Canadian gold exploration and development company focused on the delineation, development and mining of its 100% owned Frankfield East gold deposit, in the prolific Timmins, Ontario gold camp, while continuing to evaluate additional exploration and acquisition targets in the vicinity. The 2010 drilling confirms continuity of mineralization to at least 700m along strike and 700m vertical depth (deposit remains open) more than doubling the size of the original mineralized envelope which contained an inferred mineral resource of 510,000 oz (2.4 million tonnes @ 6.5g/t gold). This drilling demonstrates a mineral potential at Frankfield East in excess of 1 million ounces (4.5-5.5 million tonnes @ 6.5-7.0 g/t Au).
Gowest Gold uncovers potential to increase resources at Frankfield East
Toronto-based Gowest Gold (CVE:GWA)(OTCBB:GWSAF) said Tuesday that diamond drilling beyond the limits of its previously estimated resource at its Frankfield East gold deposit in Ontario has continued to intersect significant gold mineralization, indicating a potential resource boost.
The Frankfield East deposit is part of the company's 60 square kilometre North Timmins gold project.
Gowest said that the latest results from the deposit provide further evidence of the potential to increase the current resource estimate, particularly along strike to the west, as well as at depth. In June, the company defined an NI 43-101 compliant resource, which included 348,000 ounces of gold in the indicated category from 1.62 million tonnes at a grade of 6.68 grams per tonne (g/t) gold, and 838,900 ounces of gold in the inferred category from 4.34 million tonnes at a grade of 6.01 g/t gold.
Four holes were drilled along strike of the Main Zone at Frankfield East, three of which intersected mineralization. These results included 3 metres of 3.6 grams per tonne (g/t) of gold in hole GW11-164; 6.2 metres of 6.3 g/t gold in hole GW11-165; and 10 metres of anomalous mineralization in hole GW11-167 (below cut off gold grade of 3.0 g/t gold).
This drilling brings the total strike at surface to more than 900 metres, compared with approximately 750 metres in the current resource estimate, and still leaves the mineralized zone open to the west, Gowest said.
At the same time, three holes drilled at vertical depths of roughly 1,000 metres showed continuity of the main mineralized zone at depth, tracing the deep extensions along a strike length of at least 600 metres.
Holes GW11-155 and -161 both intersected the deepest significant mineralization found to date, leaving the Main Zone open at depth. GW11-155 intersected multiple zones of mineralization including 2 metres with 22.4 and 9.1 g/t gold as well as 3 metres with 2.4 g/t gold, 2 metres with 5.4 g/t gold and 2 metres with 3.0 g/t gold.
Approximately 200 metres further east, hole GW11-161 intersected 2 metres with 4.9 g/t gold.
In addition, hole GW11-163 was drilled approximately 600 metres east of hole GW11-155 and had a large intersection of 14 metres of anomalous gold, demonstrating that the Main Zone is still open at depth as well as to the east, clearly warranting further follow up, Gowest said.
The company also said a number of other recently completed infill holes confirmed the field location and presence of mineralization near historical holes from the 1970s and 1980s, several of which were not fully assayed.
Moreover, additional drill results were obtained in order to convert the existing inferred gold ounces into the indicated category status, as well as to provide better definition to the upper regions of the deposit. Highlights of these results included 3.5 metres of 5.7 g/t gold in hole GW11-172; 2 metres of 18.5 g/t gold in hole GW11-176; and 3.1 metres of 4.1 g/t gold and 3 metres of 5.2 g/t gold in hole GW11-171.
Recent drilling has continued to intersect multiple zones of mineralization parallel to the Main Zone, which provide potential for adding significantly to the current resource estimate, the company said in a statement. Exploration drilling at Frankfield East are currently focused on both shallower, in-fill drilling and deeper, resource expansion drilling.
President and CEO of Gowest, Greg Romain, commented: "We are extremely pleased by the manner in which our Frankfield East deposit continues to align with and verify our geologic model, indicating that there is far more gold to be found here.
"Of course, this also gives us more confidence that this same geological and geophysical model will be extremely useful in helping us to define additional resources on other parts of our newly expanded, 60-square-kilometre land package surrounding Frankfield East."
Indeed, the company is working on a geophysical and geochemical survey program over its growing land position aimed at identifying additional Frankfield East-style gold targets for exploration in the 2011/12 winter drilling season.
