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Gowest`s drill results underline million ounce potential of Frankfield Project in Timmins Gold Camp

Published: 00:21 05 Aug 2010 BST

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Gowest Amalgamated Resources (“Gowest”)(TSX-V:GWA) received little recognition in the market this morning for its update on drilling at the Frankfield Project, despite reporting highly significant progress in its ambition to define at least one million ounces of gold.


The Timmins, Ontario focused gold explorer reported assays from a 11,600 meter Phase 1 drilling recently completed at Frankfield East, which was designed to test the company`s theory that the project hosts considerably more gold than is current delineated at the project.


Drilling highlights were aplenty, including drill hole GW10-46 which cut 10 meters averaging 6.5 grams per tonne gold.  More significant, the mineralization was intersected well beyond the current gold resource, at a depth of 600 meters, confirming the company`s theory that the project has the potential to host considerably more ounces.  All in all, Gowest reported that drilling had now confirmed the continuity of gold mineralization over a strike of at least 700 meters and to a depth to 750 meters, and still remains open down dip and along strike. 


The Frankfield Project currently hosts an inferred mineral resource of 2.4 million tonnes averaging 6.5 grams per tonne gold, or 510,000 ounces of gold.  Drilling now completed by Gowest has doubled the size of the known envelop, suggesting the project has the potential to host at least one million ounces of gold, assuming similar grades to the current inferred resource, which are very typical for projects in the Abitibi Greenstone Belt.


“The average mineralised intersection for all of the holes drilled to date through the Main Zone of the deposit is approximately 4m at a weighted average grade of 6.4 g/t gold, which is consistent with the previous drilling completed on the deposit,” Gowest summarized.


Not resting on its laurels, Gowest has now kicked off its 10,000 meter Phase 2 drill program which will continue testing the Frankfield East deposit along strike and at depth, and will also target a number of high priority targets nearby.


"These results have definitely confirmed the potential we believed existed and supports our ultimate goal of defining a mineable resource for the deposit. Hole GW10-46 is especially exciting as it is the largest intersection drilled to date in 2010 and is located far beyond the limits of any previous drill campaigns,” Greg Romain, President & Chief Executive Officer of Gowest stated this morning.

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