About Gowest

While the underlying company, Gowest Amalgamated Resources Limited, has operated for considerably longer, what was to become the “new” Gowest Gold Ltd. (“Gowest”) was advanced with the introduction on May 1, 2008 of a new management team headed by President and Chief Executive Officer, Gregory Romain.

 

Since 2009, Gowest has expanded its land holdings in the NTGP area to cover a total of 107 square km in the Timmins gold camp, with much of the additional lands being located along the same geological structures – the along the largely undeveloped Pipestone Fault, believed to be a splay off the prolific Porcupine-Destor Fault, which has produced the majority of the 145 million ounces of gold produced historically along the Abitibi-Greenstone belt – that host Gowest’s Bradshaw Gold Deposit (formerly Frankfield East) as well as a number of other gold showings.

 

March 2009: Gowest acquired 100% of the Frankfield East gold project, gaining the final 50% from New Texmont Exploration Ltd., as well as New Texmont’s additional land holdings in the bordering Tully area, all of which comprised Gowest’s North Timmins Gold Project (“NTGP”) area. In December 2009, Gowest added a series of adjacent properties from Goldcorp, thereby quadrupling its land position. In April 2010, following another extensive round of drilling, the Company found significant extensions to the Frankfield East deposit and in August, announced it had demonstrated the potential to find in excess of one-million ounces of gold at the deposit.

 

June 2011: Gowest released an updated gold resource for the Frankfield east deposit, which was estimated to contain 348,000 ounces of gold in the Indicated category (1,621,000 tonnes at a grade of 6.68 g/t Au) and 838,900 ounces of gold in the Inferred category (4,342,000 tonnes at a grade of 6.01 g/t Au). The resource estimate was completed by ACA Howe International Limited (“ACA Howe”) and reported in accordance with Canadian Securities Administration National Instrument 43-101 (“NI 43-101″) requirements and CIM Standards on Mineral Resources and Reserves. Subsequent drilling that same year saw the strike length extended to approximately 900m and to a vertical depth of at least 1,000 m.

 

October 2011: Gowest entered into an Exploration Agreement (EA) with the Mattagami First Nation and the Matachewan First Nation in order to promote a cooperative ongoing discussion between the parties with regards to the company’s NTGP.

 

November 2011: The Company announced that the Preliminary Economic Assessment completed for Frankfield East estimated a pre‐tax net cash flow of US$265 million and a 3.3 year payback period based on the current resources with annual production rate averaging 95,000 ounces of gold over a 10-year mine life.

 

February 2012: Gowest reported that a metallurgical and engineering study showed that the Frankfield East ore could be processed to produce a gold concentrate in excess of 90 g/t Au. Further, a commercial test using Gowest ore demonstrated the efficacy of using proven automated ore-sorting technology to dramatically increase the grade of ore being sent for processing while reducing the amount of waste being handled, providing still further potential for economic savings.

 

November 2012: The Company signed a Memorandum of Understanding with Glencore Xstrata’s Kidd Operations group, an operating processor in the Timmins area, which has sufficient milling capacity to be able to process ore from the Frankfield East gold deposit for a fee. The current plan is to produce a high-grade gold concentrate to be sold through a separate off-take agreement. With the baseline environmental study already completed, current plans include Gowest securing appropriate mining permits to enable it to begin mine development at Frankfield East towards the end of 2013.

 

May 2013: Gowest announced that it had entered into a non-binding Letter of Intent with Glencore Xstrata’s Kidd Operations in Timmins, Ontario.  The plan is to refurbish the Division ‘D’ line of the mill at Kidd Operations to process Gowest’s ore into a high-grade (+90 grams per tonne) gold concentrate. The proposed arrangement between the companies significantly reduces the cost and time to commercial production of the Frankfield East gold deposit.

 

July 2013: The Frankfield East Gold Deposit was 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. Gowest’s Tully North Gold Zone, located approximately two km. northeast of Bradshaw, was renamed the “Roussain Gold Zone” after Randal J. Roussain. Randal 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, located just west of Bradshaw, was 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.

 

One focus – Gold.