Gowest Gold: First Bradshaw Gold Ore Being Processed
TORONTO, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Gowest Gold Ltd. (“ Gowest ” or the “ Company ”) (TSX VENTURE: GWA) is pleased to provide a further update on its progress towards bringing the Company’s 100% owned Bradshaw Gold Deposit (“ Bradshaw ”) into production.
Gowest is pleased to report that Northern Sun’s Redstone Mill (“Redstone”) began processing the first gold-bearing mixed development ore from Bradshaw on December 1, 2020. As previously reported, this material is part of the gold-bearing mixed development ore that had been collected and stockpiled on-site from the Company’s ongoing Advanced Exploration Bulk Sample program.
Financing Discussions
The Company also notes that it is working with interested parties and reviewing both short- and long-term financing opportunities required to raise sufficient funds to complete the bulk sample and advance Bradshaw towards commercial production, targeted for 2021.
Greg Romain, Gowest President , said, “Following on our recent receipt of our mining production permit for Bradshaw as well as commissioning of the ore-sorter and other operational advances at the site, this start of milling at Redstone represents another critical milestone towards seeing the Bradshaw gold deposit as the newest gold mine in the Timmins camp.”
About Gowest
Gowest is a Canadian gold exploration and development company focused on the development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its more than 100squarekilometre 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 43101 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 PreFeasibility 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 cutoff and utilizing a gold price of US$1,200 / oz, totalling 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 Yungang Wu, P.Geo., Gowest’s Senior Geologist, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.
Forward-Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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