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Gowest Gold Ltd (GWA)
0.045 ? 0.0 (0.00%)
Volume: 1,000 @ 9:30:00 AM ET
Bid Ask Day's Range
0.04 0.045 0.045 - 0.045
TSXV:GWA Detailed Quote Wiki
Gowest Gold Ltd (GWA)
0.08 ? 0.0 (0.00%)
Volume: 84,200 @ 3:15:39 PM ET
Bid Ask Day's Range
0.08 0.09 0.08 - 0.085
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Gowest Gold Ltd (GWA)
0.11 ? 0.01 (10.00%)
Volume: 185,500 @ 3:42:45 PM ET
Bid Ask Day's Range
0.11 0.12 0.11 - 0.115
TSXV:GWA Detailed Quote Wiki
Third Party, Big Savings
Gowest Plans to Contract Out Gold Processing in Timmins
Kevin Michael Grace
November 27, 2012 - Gowest Gold Ltd V.GWA announced November 20 an updated resource estimate for the Frankfield East Gold Deposit at its North Timmins Gold Project located 42 kilometres northeast of Timmins, Ontario. Indicated resources are 6 million tonnes grading 4.88 grams per tonne gold for 945,600 ounces, and inferred resources are 3.7 million tonnes grading 4.22 g/t for 536,800 ounces.
The indicated resource, an increase of 170% over the previous estimate, is determined from surface to a maximum depth of 400 metres and along a strike of 950 metres, while the inferred resource is determined from between 400 metres and 1,000 metres.
As announced November 12, Gowest has entered into a memorandum of understanding with an existing third-party processor in the Timmins area to process ore from Frankfield East for a fee. Gold concentrate produced thereby will be sold through a separate offtake agreement.
President/CEO Greg Romain was interviewed by Kevin Michael Grace November 21 - read it here. http://resourceswire.com/2012/11/third-party-big-savings/
Gowest Gold Ltd (GWA)
0.085 ? 0.005 (6.25%)
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Gowest Gold Ltd (GWA)
0.1 ? 0.0 (0.00%)
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0.1 0.11 0.1 - 0.1
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Gowest Gold Ltd (GWA)
0.105 ? 0.0 (0.00%)
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Gowest Gold Ltd (GWA)
0.1 ? -0.005 (-4.76%)
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0.085 0.1 0.095 - 0.1
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Gowest Gold Ltd (GWA)
0.12 ? 0.0 (0.00%)
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0.11 0.12 0.12 - 0.125
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Gowest Gold Ltd (GWA)
0.18 ? 0.0 (0.00%)
Volume: 52,789 @ 3:59:59 PM ET
Bid Ask Day's Range
0.175 0.18 0.18 - 0.18
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http://investorshub.advfn.com/boards/read_msg.aspx?message_id=71228210
Gowest Gold Ltd. Closes $2.59 Million Private Placement -
DEC 22, 2011 - 16:41 ET
TORONTO, ONTARIO--(Marketwire - Dec. 22, 2011) -
Gowest Gold Ltd.
("Gowest" or the "Company") (TSX VENTURE:GWA)(OTCBB:GWSAF)
announces that it has closed its previously announced private
placement of units ("Units") of the Company (the "Offering").
Pursuant to the Offering, after the exercise of the agent's
option in full and the issuance of an additional 453,694 Units,
the Company issued and sold a total of 13,611,589 Units, at a
price of $0.19 per Unit, for gross proceeds of $2,586,201.
Each Unit is comprised of one common share of the Company issued
as a "flow-through share" (as defined in subsection 66(15)
of the Income Tax Act (Canada)) and one-half of one common share
purchase warrant (each whole common share purchase warrant, a
"Warrant"). Each Warrant is exercisable to acquire one common
share of the Company at a price of $0.30 any time prior
to 5:00 p.m. (Toronto time) on December 22, 2013.
M Partners Inc. acted as agent (the "Agent") in connection with
the Offering and, together with certain selling group members,
was paid a cash commission equal to $161,931.
In addition, the Company issued compensation warrants to the
Agent and certain selling group members exercisable to purchase
a total of 816,695 common shares of the Company, at a price of
$0.19 per share, for a period of 24 months following the closing.
The securities issued in connection with the Offering have a hold
period expiring April 23, 2012. The net proceeds of the Offering
will be used to advance the Company's Frankfield gold project.
About Gowest
Gowest is a Canadian gold exploration and development company
focused on the delineation and development of its 100% owned
Frankfield East gold deposit. Gowest is exploring additional
gold targets on the Frankfield land package and continuing to
evaluate acquisition targets in the vicinity of the Frankfield
project area, part of the prolific Timmins, Ontario gold camp.
Forward-looking statements
This news release contains certain "forward looking statements". Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gowest Gold Ltd.
Greg Romain
President & CEO
(416) 363-1210
info@gowestgold.com
http://www.gowestgold.com/op_frankfield-overview.html
http://cnrp.marketwire.com/client/gowest/n/release.jsp?actionFor=1549772
Gowest Gold Ltd (GWA)
0.245 ? -0.005 (-2.00%)
Volume: 31,000 @ 3:59:59 PM ET
Bid Ask Day's Range
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Gowest Gold Ltd (GWA)
0.22 ? 0.0 (0.00%)
Volume: 12,000 @ 3:59:59 PM ET
Bid Ask Day's Range
0.2 0.22 0.22 - 0.22
TSX:GWA Detailed Quote Wiki
Ooops a transcription error.
E = C x D = 0.0115 x 1,000 = Value of the Gold in the ground per share = US$ 10.60
should be:
E = C x D = 0.0106 x 1,000 = Value of the Gold in the ground per share = US$ 10.60
Doug
Gowest Gold Ltd (GWA) fiat$0.25
? 0.0 (0.00%)
Volume: 166,900 @ 2:35:35 PM ET
Bid Ask Day's Range
0.255 0.265 0.25 - 0.265
TSX:GWA Detailed Quote
This might help getting things going.
On the potential value for a share. A lot (if not all) came from the concept discussed by Michael Ballanger's article in April 2010 (http://www.theaureport.com/pub/na/6054)
Below is a procedure (one of the many procedures) for estimating a $/Share value of an exploration mining stock . It is a quick & dirty one, and one that an investor "on the outside" can use. The math is pretty simple.
A = Quantity of company shares - use 113,300,000
B = Recoverable ounces estimated; Lets assume 1,200,000
C = B / A = 1,200,000 / 113,300,000 = 0.0106 ounces of Gold in the ground per Share
D = Market price per ounces that a major has in its model; Lets assume US$ 1,000 (1).
E = C x D = 0.0115 x 1,000 = Value of the Gold in the ground per share = US$ 10.60
F = Percentage of the value in the ground that a major would pay to buy out. Lets use 10% (2)
G = E x F = US$ 11.5 x 10% = $1.06 /share
(1) This is an estimated figure that the user thinks gold will average over the next 10-20 years. Using today's spot market is probably unrealistic.
(2) See MB’s article in April 2010 (http://www.theaureport.com/pub/na/6054) Percentage ranged from 10% to 40%. Using 10% essentially means that we are discounting the value in the ground by 90% to cover various risks, eg: the cost of building the mine, the variability of the selling price and the cost of extracting and processing the ore over 10-20 years, and the many other unknowns that would impact the cash flow stream over the years, and of course the inaccuracies of the other data that goes into the discounted cash flow model and the selection of the discount percentage to use.
Of course this is a mathematical process. Just remember there is no adjustment factor that can be incorporated that accommodates the market's positive reaction to a "glory Hole" or negative reaction to a couple of "dry holes" where expectations for the drilling is high.
THIS IS JUST MY OPINION, USE YOUR OWN ASSUMPTIONS ON OUNCES REPORTED, MARKET PRICE, AND PERCENTAGE THAT A MAJOR WOULD BE WILLING TO PAY.
by Douginil thanks good info
This might help getting things going.
On the potential value for a share. A lot (if not all) came from the concept discussed by Michael Ballanger's article in April 2010 (http://www.theaureport.com/pub/na/6054)
Below is a procedure (one of the many procedures) for estimating a $/Share value of an exploration mining stock . It is a quick & dirty one, and one that an investor "on the outside" can use. The math is pretty simple.
A = Quantity of company shares - use 113,300,000
B = Recoverable ounces estimated; Lets assume 1,200,000
C = B / A = 1,200,000 / 113,300,000 = 0.0106 ounces of Gold in the ground per Share
D = Market price per ounces that a major has in its model; Lets assume US$ 1,000 (1).
E = C x D = 0.0115 x 1,000 = Value of the Gold in the ground per share = US$ 10.60
F = Percentage of the value in the ground that a major would pay to buy out. Lets use 10% (2)
G = E x F = US$ 11.5 x 10% = $1.06 /share
(1) This is an estimated figure that the user thinks gold will average over the next 10-20 years. Using today's spot market is probably unrealistic.
(2) See MB’s article in April 2010 (http://www.theaureport.com/pub/na/6054) Percentage ranged from 10% to 40%. Using 10% essentially means that we are discounting the value in the ground by 90% to cover various risks, eg: the cost of building the mine, the variability of the selling price and the cost of extracting and processing the ore over 10-20 years, and the many other unknowns that would impact the cash flow stream over the years, and of course the inaccuracies of the other data that goes into the discounted cash flow model and the selection of the discount percentage to use.
Of course this is a mathematical process. Just remember there is no adjustment factor that can be incorporated that accommodates the market's positive reaction to a "glory Hole" or negative reaction to a couple of "dry holes" where expectations for the drilling is high.
THIS IS JUST MY OPINION, USE YOUR OWN ASSUMPTIONS ON OUNCES REPORTED, MARKET PRICE, AND PERCENTAGE THAT A MAJOR WOULD BE WILLING TO PAY.
Douginil
Hey NYbob,
I think we need to breathe some new life into this board. We got some great board members at SH but not here. Any ideas? Checkmate?
What about giving me and Checkmate some rope to clean up the introduction? It's a little bit dated.
I'm a designer by trade, so I know my way around HTML.
Cheers
Gowest Gold Ltd (GWA)
0.255 ? -0.005 (-1.92%)
Volume: 60,150 @ 1:07:54 PM ET
Bid Ask Day's Range
0.25 0.26 0.255 - 0.27
TSX:GWA Detailed Quote
Gowest Gold Announces Conference Call Wednesday 11am ET Corresponding to Updated Resource
MAY 31, 2011 - 10:47 ET
TORONTO, ONTARIO--(Marketwire - May 31, 2011) - Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA)(OTCBB:GWSAF)(FRANKFURT:1GW) will announce the Company's National Instrument 43-101 updated gold resource before the market opens on Wednesday, June 1, 2011.
A conference call will be held on Wednesday, June 1, 2011 starting at 11am Eastern Time. Senior Management will be on hand to discuss the results.
Conference Call Access:
Canada & US Toll Free: 866-696-5910
International & Toronto: 416-340-2217
Pass code: 1018302
Archive Call Access:
If you are unable to attend the conference call, a replay will be available until midnight, June 8, 2011 by calling the appropriate number below:
Local Toronto Participants: 905-694-9451
North American Toll Free: 800-408-3053
Pass code: 5768187
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Frankfield East gold deposit. Gowest is exploring additional gold targets on the 60 square kilometre land package it controls and continuing to evaluate acquisition targets in the vicinity of the Pipestone Fault area, part of the prolific Timmins, Ontario Gold Camp.
Forward-looking statements
This news release contains certain "forward looking statements". Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gowest Gold Ltd.
Greg Romain
President & CEO
(416) 363-1210
info@gowestgold.com
or
Gowest Gold Ltd.
Rory Quinn
Investor Relations
Toll Free: (877) 363-1218 or (416) 363-1210 ext. 208
roryq@gowestgold.com
| Sitemap |
Looks like a no brainer! Going to research this one. Date on updated 43-101?
checkmate28 welcome to Gowest Amalgamated Resources Ltd. (TSX:GWA
good to see you at GWA
thanks for good info;
Things are about to get started here I believe. News of NI43-101 compliant 1 million oz gold at grades avg 6 - 7 grams per ton coming this month. 1 million ounces, thats over a billion $ deposit for a market cap of 30 million now. Thats value. Their not looking for Gold, they have it. PPS has been drifting as the 3rd party is late with the report I believe and people are tired of waiting. Not many sellers but not many bids either.
They ought to be worth $90 in market cap per ounce on the low end, (over .80/share) for a 1,000,000 oz Gold insitu value, with avg grades over 6 grams per tonne, open for expansion with good infrastructure and coming plans for producing 100,000oz/yr. Local comparable explorers get from $90 to $135 in MC per insitu OZ. They've been hitting consistant grades on nearly every hole. Excellent management worked with the local majors for many years. Feasibility study projected for early fall plus larger resource numbers still. Their in Timmons ON so they can ship the ore anywhere local via railways and infrastructure that is already there. This is a straight forward operation. 1 million ounces with those grades will make a story.
This is the first new discovery in Timmons in a long time and there is a lot of talk from the locals. I know this. This has the potential to be a 2-3 million oz company and they've alredy been talking with local smelters to ship ore for cash flow soon, while they plan and build a mine. Infill drilling could move 1/2 million Inferred to M & I categories. They are drilling to 900 meters with high grades lower. Local Lakeshore Gold is drilling over 1500 meters at their flagship property in Timmons as well.
Call Rory Quinn company IR. He answers the phone.
great article here. Text below.
http://www.resourceintelligence.net/gowest%E2%80%99s-frankfield-gold-project-on-growth-trajectory-updated-43-101-resource-estimate-expected-in-march/16777
Website: http://www.gowestgold.com
Things are about to get started here I believe. News of NI43-101 compliant 1 million oz gold at grades avg 6 - 7 grams per ton coming this month. 1 million ounces, thats over a billion $ deposit for a market cap of 30 million now. Thats value. Their not looking for Gold, they have it. PPS has been drifting as the 3rd party is late with the report I believe and people are tired of waiting. Not many sellers but not many bids either.
They ought to be worth $90 in market cap per ounce on the low end, (over .80/share) for a 1,000,000 oz Gold insitu value, with avg grades over 6 grams per tonne, open for expansion with good infrastructure and coming plans for producing 100,000oz/yr. Local comparable explorers get from $90 to $135 in MC per insitu OZ. They've been hitting consistant grades on nearly every hole. Excellent management worked with the local majors for many years. Feasibility study projected for early fall plus larger resource numbers still. Their in Timmons ON so they can ship the ore anywhere local via railways and infrastructure that is already there. This is a straight forward operation. 1 million ounces with those grades will make a story.
This is the first new discovery in Timmons in a long time and there is a lot of talk from the locals. I know this. This has the potential to be a 2-3 million oz company and they've alredy been talking with local smelters to ship ore for cash flow soon, while they plan and build a mine. Infill drilling could move 1/2 million Inferred to M & I categories. They are drilling to 900 meters with high grades lower. Local Lakeshore Gold is drilling over 1500 meters at their flagship property in Timmons as well.
Call Rory Quinn company IR. He answers the phone.
great article here. Text below.
http://www.resourceintelligence.net/gowest%E2%80%99s-frankfield-gold-project-on-growth-trajectory-updated-43-101-resource-estimate-expected-in-march/16777
Checkmate28
Gowest Gold Ltd (GWA)
0.305 ? -0.01 (-3.17%)
Volume: 135,000 @ 3:35:40 PM ET
Bid Ask Day's Range
0.295 0.305 0.3 - 0.31
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Gowest Amalgamated R (GWA)
0.335 ? -0.025 (-6.94%)
Volume: 281,000 @ 3:45:52 PM ET
Bid Ask Day's Range
0.335 0.365 0.335 - 0.365
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2 million Measured, Indicated + Inferred target for 2011 and the high grade shallow depth material.
Last post was from memory. This information is from an April 2011 report. Link on the end.
Highlights
• Targeting updated resource in excess of 1 million ounces in early Q2, 2011.
• 2010 – Feb 2011 drill programs demonstrated comparable grades and widths (3.5-4m of approx. 6.5g/t) to existing 43-101 resource.
• 18,000m drill program planned for 2011 phase 1. 1-2 drills turned in 2010, 3 to 4 drills turning in 2011.
• Targeting 1.5 million oz Au inferred and +500,000 oz Au M&I at the end of 2011.
• Scoping study based on a 1400 tonne/day, 100,000 oz Au/yr operation expected in Q2. Thats 15 million dollars in Gold per year minus costs ( probably 5 to 600 per ounce having to ship concentrate) So 10 mil$ net
• Shallow high grade gold extensions at surface, and multiple parallel gold structures at depth.
• Development targeted in 2012, short term production potential using nearby custom processing facilities
Again at 35 million market cap and 1400/oz POG, whats to go wrong here?
http://www.gowestgold.com/downloads/GWA_Factsheet_April_2011.pdf
http://www.gowestgold.com/downloads/GWA_Presentation_March_2011.pdf
One million plus ounces high grade Gold. Why is nobody here? Guess they haven't heard or they don't believe the information coming out of the company so far.
I think Gowest is going to raise some eyebrows and suprise the market here real soon. I think the NI43 101 delay is to allow some time for some straggeling information to flow in, that will in the end, will shore up the resource report and prove up the million plus show it open for more.
Whats the market going to do when they see 1 million ounces with average grades between 6 and 7 grams per ton and still open at depth and strike coming out of Timmons? The company is also working on the feasibility for a production program and is in the middle of a paid for 30,000 meter drilling program that will increase the resource estimate past the million ounce mark at a later date.
They are just a jump from Lakshore Golds Flagship project in west Timmons. Lakeshore has high grades down past 1.5 Kilometers
I added yesterday and today.
GLTA Checkmate
Gowest Amalgamated R (GWA)
0.38 ? 0.015 (4.11%)
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Gowest Amalgamated R (GWA)
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Gowest Amalgamated R (GWA)
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Gowest Amalgamated R (GWA)
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Gowest Amalgamated R (GWA)
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Gowest Amalgamated R (GWA)
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Gowest Amalgamated R (GWA)
0.24 ? -0.015 (-5.88%)
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Full TSX:GWA Quote
Gowest Amalgamated R (GWA)
0.245 ? -0.005 (-2.00%)
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0.24 0.245 0.24 - 0.25
Gowest Amalgamated Resources Ltd (TSXV: GWA) is the Junior Resource Stock of the Week -
http://www.smallcappower.com/articles/Ubika_Research_Junior_Resource_Stock_of_the_Week.html
Gowest-Timmins, Ontario Completes Metallurgical Composite Drill Program Including Intersection of 5 Meters at 8.8 g/t Gold
JUN 9, 2010 - 10:55 ET
TORONTO, ONTARIO--(Marketwire - June 9, 2010) - Gowest Amalgamated Resources Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA) is pleased to announce assay results from its metallurgical composite drill program for the 100% owned Frankfield Project in Timmins, Ontario.
* Metallurgical test holes drilled through the deposit main zone indicated an average width approaching 4 meters at a weighted average grade of 7.3 g/t of gold. The mineralised intervals from the 1,300 meters of HQ drill core drilled to 125–150 meters vertical depth is intended to be used for the Company's detailed metallurgical program taking place at SGS Lakefield Research and targeted for completion in the second half of 2010.
* The best intersection of the program was from hole GW10-65, which intersected 5 meters of 8.8 g/t gold. See Table 1 for additional results. Overall, the drilling results are in line with Gowest's resource average (existing 43-101 compliant Frankfield East 510,000 oz inferred mineral resource -- 2.4 million tonnes @ 6.5 g/t gold -- G.A. Harron, February 15, 2006) and recent drill results released on April 6, 2010.
* The grades demonstrated for the Frankfield East deposit during the past and current drilling programs are consistent with what are generally accepted as typical norms for the Timmins mining camp area (6-8 g/t gold).
Greg Romain, President & Chief Executive Officer of Gowest, said, "The assay results of the metallurgical test holes are consistent with the average grade of our current resource and with the grades from our Phase 1 drilling announced in April." Mr. Romain added, "As we work to complete additional deep holes at vertical depths of up to 800 meters we are encouraged with the progress made to date to demonstrate a potentially economic resource at the Frankfield East deposit. The Company continues to take advantage of the spring thaw period to complete detailed preparations for Phase 2 of the drill program which is expected to start late in June and is budgeted at $2.25 million. Phase 2 will target further extensions to the Frankfield East gold deposit as well as investigate other highly prospective but previously unexplored targets to the west and south of the current deposit that have recently been shown to possess very similar characteristics to the geological environment present at Frankfield East."
Table 1. Summary of Main Zone Drill Intersections Utilised for Frankfield East Gold Deposit Metallurgical Composite
Hole No. Depth (m) Interval (m) Grade (g/t gold)
GW10-63 127 – 129 2.0 6.7
GW10-65 119 - 124 5.0 8.8
GW10-66 140 - 145 5.0 6.9
GW10-67 124 - 127 3.0 6.9
GW10-70 122 - 125 3.0 6.3
m – metre, g/t gold – grams per tonne contained gold
Note: Intervals shown are core lengths (true width of mineralization will be slightly reduced).
* Additional intervals of lower grade mineralization were blended with main zone intersections shown in table to produce approximately 250kg of final metallurgical composite material assaying 6 – 6.5 g/t.
The detailed information obtained from the metallurgical composite drill holes will also assist in the mineralization statistical work currently underway at Golder Associates as a precursor to developing a new Frankfield East resource model. The goal of this work is to upgrade a significant portion of the current inferred resource for the deposit into the indicated category while utilising information gained from the new drilling results to develop additional inferred resources.
The Frankfield Project
The Frankfield Project area is located in Tully Township approximately 30 km northeast of Timmins, Ontario. Located within the project area is the Frankfield East gold deposit containing an underexplored 510,000 oz (2.4 million tonnes @ 6.5 g/t gold) 43-101 compliant mineral resource that was previously delineated as part of a 50/50 joint venture. In March 2009, the Company began to consolidate the Frankfield regional area becoming the 100% owner of the Frankfield East gold deposit as well as adjacent mineral concessions. This consolidation continued in 2010 with the acquisition from Goldcorp of a significant land package contiguous to the east of the Frankfield project (see press release dated December 23, 2009), which quadrupled the company's land package in the area. The company will continue to evaluate opportunities to further consolidate the Frankfield regional area.
Prior to initiating the current drilling program, the Company completed a comprehensive review and re-evaluation of all geological, geochemical and geophysical data available from historical work carried out in the Project area. The results of this work allowed for the preparation of an updated regional geological model showing the potential for significant extensions of the Frankfield East gold deposit along strike and at depth as well as identifying a number of other significant unexplored anomalies.
Qualified Person
This press release has been reviewed by Mr. Darren Koningen, P. Eng., Gowest's Vice President of Technical Services. Mr. Koningen is a Qualified Person under National Instrument 43-101.
All drill core samples were photographed prior to being logged. Sample intervals were determined based on geological context to a maximum length of 1m. The entire core from each interval was bagged and delivered to the SGS Lakefield Research preparation facility located in Lakefield, Ontario. All samples were individually crushed prior to removing a representative sample which was analyzed for gold using fire assay procedures with an Atomic Adsorption Spectroscopy ("AAS") finish in addition to the completion of a multi-element ICP-AES scan.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation, development and operation of its 100% owned Frankfield East gold deposit while continuing to evaluate additional exploration and acquisition targets in the vicinity of the Frankfield project area, part of the prolific Timmins, Ontario gold camp.
Forward-looking statements
This news release contains certain "forward looking statements". Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gowest Amalgamated Resources Ltd.
Greg Romain
President & CEO
416.363.1210 begin_of_the_skype_highlighting 416.363.1210 end_of_the_skype_highlighting begin_of_the_skype_highlighting 416.363.1210 end_of_the_skype_highlighting begin_of_the_skype_highlighting 416.363.1210 end_of_the_skype_highlighting
info@gowestgold.com
or
Gowest Amalgamated Resources Ltd.
Rory Quinn
Investor Relations
Toll Free: 877.363.1218 begin_of_the_skype_highlighting 877.363.1218 end_of_the_skype_highlighting
416.363.1210 begin_of_the_skype_highlighting 416.363.1210 end_of_the_skype_highlighting ext. 208
http://cnrp.marketwire.com/client/gowest/n/release.jsp?actionFor=1273611
Gowest Acquires Mining Claims and Announces Board Resignation
JUL 14, 2010 - 10:53 ET
TORONTO, ONTARIO--(Marketwire - July 14, 2010) -
Gowest Amalgamated Resources Ltd. -
("Gowest" or the "Company") (TSX VENTURE:GWA)
today announced that the Company has executed the definitive agreement for the purchase of mining properties in
Tully Township adjacent to the Company's 100% owned
Frankfield Project.
The Frankfield Project area hosts the Frankfield East deposit
which contains a 43-101 compliant 510,000 ounce resource
(2.4 million tonnes @ 6.5 g/t).
The deposit remains open along strike and at depth and appears
to be part of a larger structurally controlled
gold-hosting system
The properties acquired include 4 contiguous leased claims
(mining rights only) consisting of 4 units covering
approximately 163.5 acres (65.4 hectares) in the south
central portion of Tully Township and contiguous to the
south boundary of the Company's Frankfield Project.
The transaction includes, $16,000 cash,
70,000 common shares of the Company
and a 0.50% royalty at gold prices less than US$950 per ounce
or 0.75% royalty at gold prices equal to or greater than
US$950 per ounce on the net smelter returns ("NSR") derived
from future gold production from these mining properties.
The Company will maintain an NSR buyout option valued
at $125,000 for each 0.25% of the desired NSR.
The Company also announced that Mr. Mark Raguz resigned from
the Board of Directors effective immediately.
The Board would like to thank Mark for his contribution
and wishes him success in his new position at
Griffiths McBurney (GMP) Securities.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation, development and operation of its 100% owned Frankfield East gold deposit while continuing to evaluate additional exploration and acquisition targets in the vicinity of the Frankfield project area, part of the prolific Timmins, Ontario gold camp.
Forward-looking statements
This news release contains certain "forward looking statements" including in respect of a proposed acquisition of certain properties by the Company. Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. 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.
To view the figure associated with this release, please visit the following link: http://media3.marketwire.com/docs/gwa714fig1.pdf.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gowest Amalgamated Resources Ltd.
Greg Romain
President & CEO
416.363.1210
or
Gowest Amalgamated Resources Ltd.
Rory Quinn
Investor Relations
416.363.1210 ext. 208 or Toll Free: 877.363.1218
info@gowestgold.com
Gowest Amalgamated R (TSX:GWA)
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Gowest Amalgamated R (TSX:GWA)
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Gowest Amalgamated R (TSX:GWA)
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Gowest-Timmins, Ontario Drills 5.7m of 8 g/t Gold While Demonstrating Significant Extensions at Its Frankfield East Gold Deposit
4/6/2010 8:33:50 AM - Market Wire
TORONTO, ONTARIO, Apr 06, 2010 (MARKETWIRE via COMTEX News Network) --
Gowest Amalgamated Resources Ltd. ("Gowest" or the "Company") (TSX VENTURE: GWA) is pleased to announce positive results from its ongoing 2010 drill program for the 100% owned Frankfield Project in Timmins, Ontario.
- Deepest hole drilled to date, 700m vertically, encountered 3m of
mineralization at a grade of 8.4 g/t gold. In excess of 80% of the known
resource at the Frankfield East gold deposit was drilled previously at a
vertical depth of less than 400m. Recent modelling shows that the
deposit remains open at depth. Drilling continues.
- The resource has been expanded along strike from approximately 450m to
700m representing an increase in strike length in excess of 50%. Results
received to date indicate the potential for further extensions.
- Average mineralized width for the five drill holes targeting the area of
expanded resource potential is approaching 4m at a grade of
approximately 7 g/t gold. These results are consistent with previous
17,200m of drilling utilised as the basis for the existing 43-101
compliant Frankfield East 510,000 oz inferred mineral resource (2.4
million tonnes @ 6.5 g/t gold -- G.A. Harron, February 15, 2006).
Greg Romain, President & Chief Executive Office of Gowest, said, "We are pleased that these initial results have significantly extended both the strike and depth of the Main Zone at the Frankfield East gold deposit. The results to date support the potential we believed existed, significantly increasing the size of the mineralized envelope by 50% both along strike and also at depth, moving us further toward our ultimate goal of defining a mineable resource for the deposit." Mr. Romain added, "To date we are less than a quarter of the way through the 20,000m drill program planned for 2010. The Company looks forward to the completion of our Phase 1 drill program and the initiation of the Phase 2 drill program this spring which will continue to target further extensions of the Frankfield East gold deposit as well as investigating other previously unexplored targets surrounding the current deposit."
For an overview of the Frankfield East gold deposit please click on the following link: http://media3.marketwire.com/docs/DrillLayout.jpg
The Frankfield Project 2010 Development Program
The Frankfield Project area is located in Tully Township approximately 30 km Northeast of Timmins, Ontario.
Located within the project area is the Frankfield East gold deposit which contains an underexplored 510,000 oz (2.4 million tonnes @ 6.5 g/t gold) 43-101 compliant inferred mineral resource that was previously estimated as part of a 50/50 joint venture. In March 2009, the Company began the consolidation of the Frankfield regional area becoming the 100% owner of the Frankfield East gold deposit as well as the adjacent mineral concessions. This consolidation continued in 2010 with the acquisition from Goldcorp of a significant land package contiguous to the east of the Frankfield project (see press release dated December 23, 2009).
Prior to initiating the current drilling program, the Company completed a comprehensive review and re-evaluation of all geological, geochemical and geophysical data available from historical work carried out in the project area. The results of this work allowed for the preparation of an updated regional geological model showing the potential for significant extensions to the Frankfield East gold deposit along strike and at depth as well as identifying a number of other significant unexplored anomalies.
The recent drill results are part of the first phase of a minimum 20,000m drill program that commenced in January 2010. In conjunction with the ongoing work aimed at expanding the Frankfield East gold deposit, the company's 2010 development program also includes:
- drilling to evaluate a number of high priority gold targets elsewhere on
the property;
- metallurgical testwork to determine processing alternatives for the
Frankfield mineralization;
- an evaluation of site locations for processing facilities;
- environmental baseline studies to allow for future bulk sampling and/or
mining;
- consideration of an expansion of the current development program in the
second half of 2010.
The budget for the current development program is approximately $4 million. The funds for this work are presently in place.
2010 Drill Program Results
A total of 3,600m of exploration drilling from eight holes has been fully logged and assayed to date with the key highlights set out in Table 1 below. It should be noted that hole GW10-49 was drilled early in the campaign at a location near the western limits of the previously drilled Frankfield East gold resource. This hole was intended to verify that the location of the main mineralised zone was consistent with the updated Frankfield resource model. The intersections in holes GW10-45/47/55/61/62 are notable in that all of these holes intersected significant extensions (strike/depth) to the known Main Zone of the deposit. The average mineralised intersection for these holes was approximately 3.5m at a weighted average grade of 7.1 g/t gold, which is consistent with the previous drilling completed on the deposit. The intersection of hole GW10-55 (3.0m @ 8.4 g/t gold) is especially notable as this is the deepest exploration hole drilled to date (approximately 700m vertical depth) at the Frankfield project confirming the Company's belief that the mineralization remains open at depth and substantially deeper than previously drilled.
Also included in Table 1 are a few highlighted intersections referred to as part of the Breccia Zone. These gold-bearing quartz vein systems are persistent throughout the Frankfield East gold deposit and are located in the mafic rocks forming the hanging wall of the deposit. The continuity of the veins is not well understood at this time and will be targeted later in the drill campaign in an effort to better understand their potential to augment the Frankfield East gold deposit resources.
Drill holes GW10-51/52 were targeted specifically to examine the western strike extension limits in the updated geophysical model for the Frankfield East gold deposit to a depth of 400m. As inferred from the model, the rocks encountered by these holes demonstrated that the target alteration zone, which is characterised by silicification and the presence of gold-bearing sulphides, shows a reduction in both width and intensity at this location. The potential for a continuation of the mineralization at depth remains along the western extents of the deposit and additional drilling is planned to evaluate this opportunity. The eastern limits of the deposit are less clearly defined in the geophysical model and the absolute limits have yet to be reached by the current drill program.
Table 1. Drilling Results of the Frankfield East Gold Deposit
----------------------------------------------------------------------------
Hole No. Depth (m) Interval (m) Grade (g/t gold) Notes
----------------------------------------------------------------------------
GW10-45 164.4-165.9 1.5 8.5 Breccia Zone
186.3-192.0 5.7 8.0 Main Zone
196.15-196.75 0.60 5.7 Breccia Zone
----------------------------------------------------------------------------
GW10-47 418.0-423.0 5.0 4.6 Main Zone
----------------------------------------------------------------------------
GW10-49 284.45-285.65 1.2 4.1 Main Zone(i)
----------------------------------------------------------------------------
Minor sulphide content, no intervals greater than 3 g/t gold
GW10-51 (drilled west of main alteration zone)
----------------------------------------------------------------------------
Minor sulphide content, no intervals greater than 3 g/t gold
GW10-52 (drilled west of main alteration zone)
----------------------------------------------------------------------------
GW10-55 785.0-788.0 3.0 8.4 Main Zone
----------------------------------------------------------------------------
GW10-61 123.35-126.0 2.65 10.2 Main Zone
----------------------------------------------------------------------------
GW10-62 108.0-108.3 0.3 13.5 Breccia Zone
474.1-475.4 1.3 3.1 Main Zone
----------------------------------------------------------------------------
m - metre, g/t gold - grams per tonne contained gold
Note: Intervals shown are core lengths (true width of mineralization will be
slightly reduced).
Holes GW10-46/48/50/53/54/56/57/58/59/60 were located in field but
have not yet been completed.
(i) Drill hole GW10-49 was targeted to intersect the existing 43-101
Frankfield East mineralized Main Zone.
In addition to the exploration drilling summarised in the above table, a total of approximately 1300m of large diameter (HQ) drill core was completed as part of this campaign through known zones of mineralization. This drill core is intended to be used for the Company's upcoming detailed metallurgical program targeted for completion in the second half of 2010. In order to ensure that the Frankfield project is developed in as short a timeline as possible, a number of development programs (metallurgy, geotechnical, environmental baseline) have been planned to run concurrently with the project exploration work.
Qualified Person
This press release has been reviewed by Mr. Darren Koningen, P. Eng., Gowest's Vice President of Technical Services. Mr. Koningen is a Qualified Person under National Instrument 43-101.
All drill core samples were photographed prior to being split and logged. Sample intervals were determined based on geological context and varied in length from 0.3 - 1.5m. Half of the split core from each interval was bagged and delivered to the ALS Laboratory Group ("ALS") preparation facility located in Timmins, Ontario. All samples were prepared by ALS and analyzed for gold using fire assay procedures with an Atomic Adsorption Spectroscopy ("AAS") finish in addition to the completion of a multi-element ICP-AES scan. ALS's main North American assay laboratory in Vancouver, British Columbia is accredited to ISO/IEC 17025:2005.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation, development and operation of its 100% owned Frankfield East gold deposit while continuing to evaluate additional exploration and acquisition targets in the vicinity of the Frankfield project area, part of the prolific Timmins, Ontario gold camp.
Forward-looking statements
This news release contains certain "forward looking statements". Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. 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 Amalgamated Resources Ltd. Greg Romain President & CEO (416) 363-1210 info@gowestgold.com
SOURCE: Gowest Amalgamated Resources Ltd.
mailto:info@gowestgold.com
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