Connect with us

Precious Metals

Aurwest drills 6.2 g/t gold over 0.9 metres at Paradise Lake, Newfoundland

    VANCOUVER – Aurwest Resources Corp. [AWR-CSE; AURWF-OTC] reported drill results from recent exploration drilling at the Paradise Lake project,…

Published

on

This article was originally published by Canadian Investor

 

 

VANCOUVER – Aurwest Resources Corp. [AWR-CSE; AURWF-OTC] reported drill results from recent exploration drilling at the Paradise Lake project, central Newfoundland. These initial results provide analytical assay data results for the first three drill holes completed as part of the 11-hole drilling program at Paradise Lake within the 4.5-km long Cape Ray Valentine Lake corridor.

Highlights include drill hole PL-22-01 that intersected 2.50 g/t gold over 3.4 metres, including 6.20 g/t gold over 0.9 metres. Phase II is commencing to further test priority targets on west side of Twin Ponds

Colin Christensen, president and CEO, stated, “Our Paradise Lake gold property represents an exciting early-stage gold exploration project. Results to date on our first diamond drilling program on the project has so far intersected a broad range of significant gold concentrations in the syenite intrusion associated with the Cape Ray-Valentine Lake structure. Based on the early results of drilling so far, the exploration model that appears to be evolving is similar to that of the Valentine Lake gold deposit, which suggests the potential for a large tonnage lower grade deposit.

“The drilling so far has exhibited lower grade “Intrusion Related” gold mineralization with concentrations that are in line with this style of mineralization. Based on the 2021 surface sampling results we are confident that there is also the potential for high-grade gold in this area as indicated by our surface sampling. Despite delays in receiving all the analytical results from the Phase I drill program, Aurwest will continue with a modified Phase II drilling program testing the interpreted extensions of the Phase I results received to date.”

The Phase I diamond drilling program consisted of 11 holes (PL-22-01 through PL-22-11) totaling 2,746 metres to test a broad range (0.05 to 144.7 g/t gold) gold concentrations in outcrop/subcrop/float hosted in quartz veined/stockwork/breccia exhibiting a quartz-pyrite-arsenopyrite mineral association exposed in a syenite intrusive along the Cape Ray Valentine Lake structure.

Highlights include hole PL-22-01 returned a 3.4-metre interval averaging 2.50 g/t gold over a core interval from 80-83.4 metres, including 0.9 metres of 6.20 g/t gold. Additional sampling of DDH Pl-22-01 has been completed to fill in open ended intervals of gold mineralization.

Drilling is expected to commence next week to continue testing priority target areas identified in 2021and interpreted extensions of the gold mineralization identified to date. The 2022 mapping and prospecting program is underway and focusing on the west side of the Twin Ponds-Paradise Lake area to determine the source of a large resistivity high outlined by the 2021 IP program.

Aurwest is commencing its Phase II diamond drill program to test the interpretated extensions of the gold mineralization identified to date. The initial part of the program consists of five drill holes totaling 1500 metres.

The 2022 mapping and prospecting program has commenced with the initial portion of the program focusing along the west side of the Twin Ponds-Paradise Lake area to continue follow-up of quartz veined subcrop/float that returned gold concentration up to 144.7 g/t. The gold mineralization is interpreted to be related to a large resistivity anomaly identified in 2021.

Aurwest has three option agreements to earn a 100% interest in Paradise Lake and Stony Caldera projects covering a 47,800-hectare (478 km2) package of gold exploration licenses within the emerging Central Newfoundland gold district.


otc

Precious Metals

How Does Wall Street Rate Shares Of New Gold Inc. (NGD)?

New Gold Inc. (AMEX:NGD) saw a downside of -4.27% to $1.12 after subtracting -$0.05 on Wednesday. The 5-day average trading volume is 3,331,579 shares…

Continue Reading
Precious Metals

The Top Reasons to Jump into Oversold Gold Stocks

Gold prices could rally well above $2,500 this year, says Goldman Sachs. Analyst Jeff Currie sees the perfect storm for gold based strong investor demand…

Continue Reading
Precious Metals

Gold Stocks in Demand as Volatility Continues

Gold aspirant Cavalier Resources announces its new substantial shareholders following IPO Gold stocks in demand as investors seek the traditional … Read…

Continue Reading

Trending