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Gowest Gold History

Oct 10, 2013
1960s-1990s
 
• Kidd Creek base metal discovery in 1964 sparks an exploration rush focussed exclusively on locating base metals deposits
• Airborne EM surveys and subsequent drill testing of conductors lead to the discovery of several gold occurrences including Frankfield East
• Gowest acquires interest in the area
• Develops new geological model: identifying shear structure at mafic-ultramafic contact
• Drilling intersects gold mineralization on the Frankfield zone at a vertical depth of 600 metres establishing depth potential


2000-2008
 
• Geophysical surveys and several drilling campaigns leading to an inferred mineral resource of 510,000 ounces at the • Frankfield East deposit, strengthening confidence in the geological model
• Progress hindered by lack of ownership on adjacent claims and 50/50 JV arrangement on Frankfield


2009
 
• Gowest acquires 100% of Frankfield east and adjacent claims
• All available data compiled for entire regional area
• Geochemical and high-res geophysical surveys conducted on the Frankfield Property
• Environmental baseline and metallurgical studies commence


2010
 
• Major drilling program of 30,000m expands the Frankfield East deposit both along strike and at depth.
• Deep drilling demonstrates the continuity of the gold horizon to a minimum vertical depth of 900m.
• Gowest acquires adjacent properties in Tully township from Goldcorp to increase land holdings by 400%


2011
 
• Updated 43-101 compliant resource estimate completed demonstrating 1.2 MM oz.
• Drilling program continues to extend deposit strike and demonstrates the continuity to vertical depths in excess of 1000m.
• Gowest increases overall land holdings along Pipestone fault to approximately 60 square kilometers.
• Regional geophysical and geochemical program underway to identify “Frankfield-style” targets for winter drill program.
• First Nations Memorandum of Understanding agreement executed
• Completed Preliminary Economic Assessment (PEA) for Frankfield Deposit


2012
 
• Gowest land position increases to 93 sq km
• Environmental baseline work completed for mine permitting
• Positive full-scale ore sorting optimization test
• Resource expansion drilling program confirms gold mineralization to at least 1.4 km along strike and 1.1 km vertical depth (deposit remains open)
• Advancing plans to use a third-party processing facility to custom treat Frankfield East ore within 30 months.
• Updated NI 43-101 compliant resource estimate completed demonstrating almost 1.5 MM oz.


2013
 
• Gowest increases land position to 107 square km
• Gowest signs Letter of Intent with Glencore Xstrata for Kidd Mill processing
• The Frankfield East Gold deposit is renamed the Bradshaw Gold Deposit ("Bradshaw") after Ronald J. Bradshaw who, as founder of Gowest (formerly Gowest Amalgamated Resources Ltd.), was instrumental in the discovery of this now-advanced gold asset
• The Tully North Gold Zone is renamed the Roussain Gold Zone after Randall J. Roussain who was instrumental in negotiating Gowest's acquisition agreement of this claim package with Goldcorp in 2011 and assisted in hole location for the successful exploration drill campaign completed in the winter of 2012-13
• The Texmont Gold Zone is renamed the Sheridan Gold Zone after J. Patrick Sheridan, a long-time prospector and Gowest investor and the owner of New Texmont, a company that initially discovered the zone in the late 1980's

Source: http://www.gowestgold.com/index.php/investors/history/