Gowest has Completed Two Months of Safe Gold Production

Gowest Gold Ltd announced it has made significant progress in restarting its o Bradshaw Gold Deposit in North  Timmins.

To date, 8,000 tons of ore have been stockpiled on the surface in preparation for being trucked to Northern Sun’s Redstone Mill for processing once the ongoing work of upgrading the mill and its tailings facility has been completed later this year.

Since initiating operations in early April to restart Bradshaw as the newest gold mine in the Timmins camp, the mine site team has achieved two months of safe production. The Company and its partners have reached this important milestone while keeping all production and key infrastructure projects on target.

 “We are very pleased with the progress that our team and partners have been able to achieve on all fronts since we initiated the restart of Bradshaw on April 10,” said Dan Gagnon, President, and Chief Executive Officer of Gowest.

“In addition to the fact that we have two months of safe production; we are now well staffed; we’ve commenced long-hole stope drilling in the East Zone; and, we are advancing the ventilation upgrade and stockpiling ore on the surface, “Gagnon added. “Exploration planning is also well underway, and we expect to start diamond drilling on the Bradshaw deposit expansion within the coming weeks.”

As previously reported, the first underground work is focusing on the development and production of the initial bulk sample area (East Zone), the development of ventilation infrastructure, as well as the development of a ramp to expand and access new ore zones.

Both Dumas Contracting Ltd. the mining contractor, and Gowest are now fully staffed. Also, drilling contractor Foraco Canada Limited has been mobilized to the site, where they have commenced the first long-hole stope drilling in the East Zone.

Meanwhile, work on the ventilation upgrade is also progressing well, and a surface raise breakthrough is planned for June 21st. This critical project is key not only to ensuring the proper ventilation of the mine, but it will also support the planned production increases in the future.

Finally, as previously reported (see Gowest release dated May 18, 2023), the Corporation has proposed a non-brokered private placement of up to 11,111,111 flow-through units of the Corporation (the “FT Units”), for $0.18 per FT Unit, for gross proceeds of up to $2,000,000. These funds will be used to expand the mineable resource at Bradshaw, as well as to further test other parts of the Corporation’s North Timmins Gold Project area where notable gold has previously been intercepted. The related diamond drilling is currently scheduled to begin in mid-June.

Gowest is also pleased to announce the appointment of Mr. Xuejun Guo to the Corporation’s Board of Directors. Mr. Guo has worked in the mining industry for over 30 years. He worked on the front line of production, which helped him gain unique experience and insight into the management of mining operations. He has worked as a mine site executive, a Company Director, and a site manager for Chifeng Jilong gold mining co Ltd. He is also familiar with managing human resources and finance departments.

The Corporation has also granted stock options to certain directors and officers to purchase up to an aggregate of 5,500,000 common shares at an exercise price of $0.24 per share. These options are exercisable for five years.

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 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 Pre‐Feasibility 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 cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

https://www.gowestgold.com

Gowest Gold Ltd.
80 Richmond Street West, Suite 1400
Toronto, ON M5H 2A4
T 416.363.1210
F 416.363.2959
Toll-Free 1.877.363.1218
info@gowestgold.com

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Tags: Northern Ontario / Operational Updates / Gold / All Articles