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Gowest Amalgamated Resources Ltd.

Publié le 30 mai 2016

Gowest Gold Leveraging Latest Exploration Results Along Pipestone Structure at North Timmins Gold Project

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Gowest Gold Leveraging Latest Exploration Results Along Pipestone Structure at North Timmins Gold Project

TORONTO, ONTARIO--(Marketwired - May 30, 2016) - Gowest Gold Ltd. ('Gowest' or the 'Company') (TSX VENTURE:GWA) is pleased to announce that its recent Induced Polarization ('IP') program has helped to reveal a distinct signature for the mineralization within its Bradshaw Gold Deposit ('Bradshaw'), part of the Company's North Timmins Gold Project ('NTGP'). The Company can now use this knowledge to help identify the best new exploration targets in the immediate surrounding area as well as along untested portions of Gowest's 20-kilometre segment of the prolific Pipestone Fault structure, which hosts Bradshaw and several other mineral deposits.

IP Program & the Pipestone Structure

In March 2016, the Company completed a deep-looking, IP survey with Insight Geophysics along the Pipestone structure. This structure is nearly completely covered by sand, gravel and overburden which, until now, has left this area largely under explored. The deep IP program looks beneath the mask of overburden to map the chargeability and resistivity of the underlying rocks. Upon commissioning of the survey, the Company completed a test block over the Bradshaw deposit to identify the geophysical signature of the deposit. The deposit was traced over the entire survey block as a resistivity high, due to the increased quartz veining, and a relative chargeability high due to the increased sulphides in proximity to the gold resources at Bradshaw (see Bradshaw & Wark 1 IP Map).

In addition to the test block at Bradshaw, the Company completed an initial exploration IP grid at the Wark 1 property (see Bradshaw & Wark 1 IP Map), 5 kms southwest of Bradshaw and along the southern contact of the Pipestone structure, host of extensive gold mineralization. Again, encouraging results from this work will be most useful in preparing for systematic field exploration programs both at Wark 1 and along the entire Pipestone structure.

Greg Romain noted, 'We are very pleased with the outcome of our first ever IP program on the Pipestone structure. Our Bradshaw deposit popped out and was highlighted in the survey so that we now have a defined geophysical fingerprint to guide us in our search for additional gold resources along this extensive trend of our NTGP property.' Mr. Romain added, 'The Company will also be providing the market with an update on Bradshaw, our continued main focus, soon.'

Gowest and TMC Joint Venture

The Company is also pleased to report that it has completed all of the necessary exploration work to satisfy a 60% earn-in interest in approximately 3,302 hectares (33 square kilometres) in the Pipestone Property, which is an integral part of the NTGP, and triggered the Joint Venture Agreement with TMC. The agreement, pursuant to which Gowest earned its interest in the Pipestone Property, was originally entered into on April 25, 2011. Gowest and TMC will be initiating exploration plans with a focus on locating additional gold bearing structures on this relatively underexplored area of the Porcupine Camp.

About Gowest:

The Company holds a significant and strategic 109 square-kilometre position in the underexplored and highly prospective Pipestone structure in the Timmins camp. Within Gowest's land position the Company's Bradshaw Gold Deposit ('Bradshaw') is currently in the advanced stages of permitting for an underground mine bulk sample. While advancing Brashaw toward commercial production and to becoming the next new mine in Timmins, the Company is exploring its extensive North Timmins Gold Project area as well as additional prospective ground for additional gold resources. Currently, Bradshaw contains a National Instrument 43-101 compliant Indicated Resource estimated at 2.1 million tonnes ('t') grading 6.19 g/t Au containing 422 thousand 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, 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.

Forward-Looking Statements

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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

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Gowest Amalgamated Resources Ltd.

EXPLORATEUR
CODE : GWA.V
ISIN : CA38383Q1090
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Gowest Res. est une société d’exploration minière d'or et de cuivre basée au Canada.

Gowest Res. détient divers projets d'exploration au Canada.

Son principal projet en exploration est FRANKFIELD au Canada.

Gowest Res. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 20,8 millions CA$ (16,6 millions US$, 14,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2004 à 0,70 CA$, et son plus bas niveau récent le 23 janvier 2009 à 0,02 CA$.

Gowest Res. possède 297 420 000 actions en circulation.

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Attributions d'options de Gowest Amalgamated Resources Ltd.
28/02/2011Grant of 2.575.000 Options to directors, officers and consu...
Nominations de Gowest Amalgamated Resources Ltd.
06/06/2011Gold Appoints New Board Member
Projets de Gowest Amalgamated Resources Ltd.
29/05/2013(Frankfield)Gold Signs Letter of Intent; Plan to Process Frankfield East...
08/04/2013(Frankfield)Gold Intercepts 5.42 g/t Gold Over 12.3m at Frankfield East
07/01/2013Files NI 43-101 Technical Report on SEDAR
12/11/2012Advancing Towards Early Gold Production with Third Party Pro...
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13/07/2011(Frankfield)Continues to Define Deep Mineralisation Extensions at Frankf...
01/12/2010(Frankfield)Completes Acquisition of 100% Interest in Additional Mining ...
25/01/2010(Frankfield)20,000 Metre Drill Program Underway at The Frankfield Gold P...
15/02/2006(Frankfield)2006 Technical report
Communiqués de Presse de Gowest Amalgamated Resources Ltd.
29/06/2016Gowest Gold Enters Into Right to Negotiate A Milling Agreeme...
22/06/2016Gowest Gold Announces Grant of Options
16/06/2016Gowest: Fully Permitted for Advanced Exploration
30/05/2016Gowest Gold Leveraging Latest Exploration Results Along Pipe...
28/04/2016Quarterly Activities Report - March 2016
28/01/2016Quarterly Activities Report - December 2015
22/01/2016Appointment of New Directors
15/01/2016Fortune Future Holdings invests $2 million in Eastern Iron L...
22/12/2015Gowest Closes Private Placement
21/12/2015Gowest Announces Private Placement
29/10/2015Gowest Completes Early Exercise of Warrants
24/09/2015Gowest Provides Further Update on Early Exercise of Warrants
16/09/2015Gowest Provides Update on Early Exercise of Warrants
26/08/2015Gowest Announces Program to Encourage Early Exercise of Warr...
26/08/2015Gowest Completes Acquisition of 100% Interest in Claims Adja...
13/08/2015Gowest Gold Reaches Another Major Milestone
22/07/2015Gowest Enters Into Agreement to Acquire 100% Interest in Cla...
15/07/2015Gowest Gold: Permitting Process Advancing for Bradshaw Gold ...
23/06/2015Gowest Gold Announces Grant of Options
07/01/2015Gowest Gold Granted Additional Extension for Letter of Inten...
07/11/2014Gowest Announces Appointment of New Director
08/07/2014Gowest Gold Granted Further Extension for Letter of Intent W...
22/10/2013Signs Letter of Intent to Receive $1.5 Million for 2 Percent...
03/10/2013Gold Issues Shares in Lieu of Cash
11/09/2013Gold Continues to Advance Bradshaw Gold Deposit Towards Prod...
16/08/2013Gold Renames Areas in Honour of Key Contributors
05/07/2013Gold Regrets the Passing of Randal Roussain
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14/01/2013Gold Joined by Senior Engineering Consultant
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06/10/2011Gold Update
19/07/2011Announces $3,200,000 Offering
14/06/2011Gold Ltd. Retains Renmark Financial Communications Inc.
31/05/2011Gold Announces Conference Call Wednesday 11am ET Correspondi...
17/02/2011Gowest Amalgamated Resources Ltd=2E: Implementation of Share...
17/02/2011Implementation of Shareholder Rights Plan
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