Gowest Gold found gold mineralization in all 23 drill holes from a recent exploration campaign at its future gold mine near Timmins.
The Toronto-based mine developer is in the midst of driving a ramp to take a 30,000-tonne bulk sample at its Bradshaw Gold Deposit.
The company said the advanced drill program was designed to refine the geological model and the stope design in the upper part of the deposit where the sample will be extracted in the third quarter of this year.
The 2,097-metre program produced some encouraging gold intercepts, including 7.70 metres at 8.26 grams per tonne (g/t), including 2.0 metre at 22.75 g/t gold.
“This gives us confidence in our resource model and with several holes intersecting gold grades higher than anticipated it supported our interpretation that the Bradshaw Deposit has room to grow and the potential to be a very successful gold mine,” said Gowest exploration director Jeremy Niemi in a July 7 news release.
The Bradshaw Gold Deposit is located on the company’s Frankfield Property, an 842-hectare package situated 32 kilometres northeast of Timmins.
The deposit contains 422,000 ounces of gold in the indicated category (2.1 million tonnes at a grade of 6.2 grams per tonne (g/t) and inferred resources of 755,000 ounces in the Inferred category (3.6 million tonnes at a grade of 6.5 g/t. The deposit is open along strike and at depth.
The company is targeting commercial production for late 2018.
"These findings further support our conviction that the Bradshaw Gold Deposit will be the next new mine in the Timmins Camp," said Gowest CEO Greg Romain.
"More importantly though, these drill results also provide a strong demonstration of the significant upside potential of the deposit that has thus far been untapped.”
The company reports that its development team had driven an underground ramp down 170 metres towards the location where the bulk sample will be taken.
The sample will be processed at the Redstone mill, where Gowest is now a 50 per cent owner after establishing a joint venture corporation with Northern Sun Mining in June.
Surface construction work continues with the completion of a maintenance shop. A water treatment plant should be ready to go early in the third quarter.
Preparations for installing an ore sorting plant are continuing, including detailed engineering plans.
Gowest also announced it has raised $999,999 through a sale of shares to fund exploration work on its North Timmins Gold Project.
