Aurwest Resources (AWR) has begun a till sampling program at its Stony Caldera Gold Project.
The project is made up of 968 claims, covering 24,200 hectares of contiguous ground covering approximately a 20-kilometre-long portion of the interpreted Cape Ray Valentine Lake structural zone located in the Central Newfoundland Gold Belt.
The Calgary-based mineral exploration company has started a property-wide, systematic glacial till sampling program consisting of approximately 1,900 sample sites.
The 1,900 till sites are proposed as part of a reconnaissance geochemical survey to identify geochemical anomalies for follow-up sampling. It is anticipated that the results of the program will better define areas of anomalous gold in till situated along interpreted gold-bearing geological structures.
Analytical results from the survey are expected in early 2022 and anomalous gold concentration would define targets for follow-up exploration work.
Prospecting has identified anomalous gold in rock samples along a 20-kilometre east-northeast trend. Out of 146 samples collected, four samples returned gold values of between 236 and 6,412 parts per billion (ppb) gold.
“Our 2021 program is focused on confirming the historical exploration results and completing a phase 1 property wide assessment consisting of mapping, prospecting and geochemical sampling to identify areas of anomalous gold and or associated gold pathfinder elements. The initial phase of the mapping and prospecting program is concentrating along the interpreted location of the underlying CRVL, and exploration model has located areas of coincident alteration and gold mineralization; “leakage halos” an indicator of hydrothermal activity and the potential for higher-grade gold mineralization at depth associated with interpreted basement structures underlying the Botwood sediments and Stony Lake volcanics,” said Aurwest President and CEO Colin Christensen.
Aurwest Resources is unchanged, trading at $0.15 at 11:57 am ET.