Gowest Gold Provides Update at North Timmins Gold Project
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 02/03/16 -- Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE: GWA) is pleased to provide an update on its development plans for the Company's North Timmins Gold Project ("NTGP"), including plans to build the next new gold mine in the Timmins gold camp on the Frankfield Property at the Bradshaw Gold Deposit ("Bradshaw").
Gowest's President and CEO, Greg Romain, said, "While we have accomplished a great deal in 2015, both on the technical side and in financing, it remains clear that the current uncertainty in equity and commodity markets has forced us to delay near term development of the Bradshaw gold mine. However, in addition to Bradshaw, we have a very large asset in the NTGP and we believe it is possible to expand the current project resource. Importantly, we also have a strong partner in Fortune Future that has independently come to the same conclusion. Working with them, as well as examining a number of other financing alternatives, we look forward to making 2016 a year of significant progress for all of our shareholders. We will continue to provide the market with updates as developments occur."
2015 ACCOMPLISHMENTS
2016 OBJECTIVES:
The Company will be attending the PDAC from March 6-9 at the Toronto Convention Centre. Please come by our booth #2824 located in the Investor Exchange to learn more about the project and meet the team.
Qualified Person: The scientific and technical disclosure in this press release has been has been prepared and approved by Mr. Kevin Montgomery, P.Geo., Gowest's Manager of Exploration and a Qualified Person under National Instrument 43-101.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation's North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100-square-kilometre 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 43-101 Indicated Resource estimated at 2.1 million tonnes ("t") grading 6.19 g/t Au containing 422 thousand 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 Pre-Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Probable Mineral Reserves, using a 3 g/t Au cut-off 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.
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Contacts:
Gowest Gold Ltd.
Greg Romain
President & CEO
Tel: (416) 363-1210
Gowest Gold Ltd.
Greg Taylor
Investor Relations
Tel: 905 337-7673 / Mob: 416 605-5120
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Unternehmensinformation / Kurzprofil:
Datum: 03.02.2016 - 12:45 Uhr
Sprache: Deutsch
News-ID 448312
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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