TSX VENTURE SYMBOL: GWA
Gowest Gold: Receives Mining Permit for Full Production, Commissions Ore-Sorter and Agrees to Mill Processing Schedule
October 28, 2020
TORONTO, ONTARIO – (October 28, 2020) Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) is pleased to provide a further update on its progress towards bringing the Company’s 100% owned Bradshaw Gold Deposit (“Bradshaw”) into production.
Greg Romain, Gowest President, said, “We have just achieved two more critical milestones towards seeing the Bradshaw gold deposit as the newest gold mine in the Timmins camp. We appreciate the patience and support of our many stakeholders and look forward to providing further detail as we move towards production.”
Mining Production Permit
Gowest has received official notice from the Ontario’s Ministry of Energy, Northern Development and Mines (“ENDM”) that the Company’s Mine Production Closure Plan (“the Closure Plan”) has received final review and filing in accordance with the Ontario Mining Act (see Gowest release dated September 16, 2020.) The Closure Plan provides details for how the Bradshaw mine will be operated and closed, and how the site will eventually be reclaimed once mining activities are completed.
Gowest has now received all environmental permits required to bring the mine into commercial production.
Ore-Sorter Commissioned and First Processing Scheduled
Gowest’s ore-sorter has also been commissioned in preparation for sorting the mixed development ore currently stockpiled on surface. This material will be trucked to Northern Sun’s Redstone Mill, where processing is scheduled to begin on the week of November 9th.
As previously reported, approximately 28,000 tonnes of gold-bearing mixed development ore has been collected and stockpiled on-site from the Company’s ongoing Advanced Exploration Bulk Sample program. The Company also plans to mine approximately 15,000 tonnes of stope ore as part of the bulk sample.
Gowest is a Canadian gold exploration and development company focused on the development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its more than 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 (“t”) 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, totalling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
The technical information in this news release has been reviewed and approved by Yungang Wu, P.Geo., Gowest’s Senior Geologist, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 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.
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