π©βπ»--News--π©βπ» Aurwest Resources : Commences a 67 Line KM IP Survey and Updates Exploration Activities at Paradise Lake Gold Project, Central Newfoundland
Calgary - Aurwest Resources Corporation (CSE: AWR) ('Aurwest' or the 'Company') is pleased to provide its shareholders with an update on its 2021 exploration program on its Paradise Lake gold project located in the Central Newfoundland Gold Belt. Paradise Lake, Highlights: a deep penetrating Induced Polarization survey has commenced at the Paradise Lake Project. A total of 67-line kilometers are planned over a strike length of 8km. The survey is designed to locate at depth, the source of a number of areas of coincident gold-pyrite-arsenopyrite mineralization and associated hydrothermal alteration in sub-crop and locally derived float.
Out of 273 rock samples from Paradise Lake, thirty-one returned gold values ranging from 100 to 11,381 ppb gold (11.38 g/t Au), the highest rock assay yet recorded on the property. Further assays from these prospective areas are pending and prospecting is ongoing.
The Phase 1 exploration program continues to make new discoveries while expanding the area of gold mineralization in the area around Paradise Lake.
Colin Christensen, President and CEO of Aurwest, commented, 'Our 2021 program has been successful in locating a number of areas of coincident alteration and gold mineralization in the Botwood sediments. Our exploration model is based on locating 'leakage halos' in the Botwood sediments that indicate the potential for higher-grade gold mineralization at depth in the underlying volcanics. The gold-pyrite association provides the opportunity to use deep penetrating geophysical surveys to map the potential source of these leakage halos at depth. We are moving forward with our 2021 exploration program and confident that this work will lead us to a drill ready stage at Paradise Lake. The results to date indicate the potential for high-grade gold mineralization given our proximity to the Cape Ray-Valentine Lake structural zone.'
Exploration Model
The Paradise Lake Project is situated on the 450 km long, Cape-Ray-Valentine Lake ('CRVL') structural zone that is host to gold deposits including Valentine Lake, Cape Ray, Moosehead and Queensway. During orogenic events in Newfoundland, these primary and secondary structures were re-activated allowing hydrothermal fluids to emanate upward from deep seated faults in the basement rocks to form 'leakage halos' within the overlying rocks including the Botwood Group sediments and Stony Lake volcanics. These leakage halos are characterized by various styles of quartz veining with associated sulfides (pyrite + arsenopyrite) and gold mineralization along these discrete structures. At Paradise Lake an intrusion of granodiorite likely belonging to the Mt. Peyton Intrusive suite is considered an important source for gold-bearing hydrothermal activity. Gold occurrences on the property are thus considered Orogenic and Intrusion related.
Mapping and Sampling
Geological mapping and rock sampling from bedrock and locally transported float has identified several target areas with anomalous to high concentrations of gold, arsenic, antimony, and base metals. These are positive indications of 'leakage halos' proximal to the CRVL structural zone.
At Paradise Lake out of a total of 273 rock samples thirty-one (31) samples yielded gold concentrations ranging from 100 to 11,381 (11.38g/t) ppb gold. Seventeen samples returned arsenic concentrations ranging between 117 to 1000 ppm, twelve samples returned lead values from 82 to 223ppm, and seventeen samples returned zinc values from 102 to 905 ppm. Assays are pending for a high priority batch of samples. The gold and associated elements appear to be concentrated around the Paradise Lake area of the property hosted in predominantly Botwood Group sediments and felsic intrusive rocks with varying degrees of quartz veining and iron carbonate alteration.
Analytical Procedures
Sample preparation and analytical work was completed by Eastern Analytical ('Eastern') located in Springdale, Newfoundland Labrador. Gold concentrations were determined in parts per billion ('ppb') using 30g fire assay with atomic absorption finish. Trace elements concentration are determined in parts per million ('ppm') on 200 milligram samples, using four acid digestion and analyses by ICP-OES. Aurwest's QA/QC protocol includes insertion of Standard Reference Material and blanks in the sample streams. Eastern has an ISO/IEC 17025 accreditation.
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