Aurwest Provides Update on Paradise Lake Project, Central Newfoundland
Calgary, Alberta--(Newsfile Corp. - April 20, 2021) - Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is pleased to provide its shareholders with an update on its 2021 exploration program for its Paradise Lake gold project located in the Central Newfoundland Gold Belt.
a) Permits required to conduct the proposed 2021 work program has been received,
b) Ground Truth has been scheduled to complete the project wide glacial till sampling survey,
c) The 2021 program is expected to commence in early May contingent on snow cover,
d) A re-interpretation of the historical till analytical data identified 11 anomalous areas for further exploration,
e) Aurwest plans to apply to the Ministry of Mines to obtain the permits necessary to conduct deep penetrating Induced Polarization, and planning for future diamond drilling programs.
Colin Christensen, President and CEO of Aurwest commented: "Our compilation and re-interpretative work suggests the potential for "Orogenic" and "Intrusive" related styles of gold mineralization within the Project. Evaluating these potential styles of mineralization requires identifying the surface trace of re-activated basement faults and areas of structural disruption such as "grabens" associated with significant intrusive activity. The historical exploration and the recent airborne geophysical survey strongly support the presence of both structural settings and a strong spatial association of the historical gold showings and gold in till anomalies with the interpreted trace of the Cape Ray-Valentine Lake structure underlying the Paradise Lake project. "
Glacial till Sampling Program:
A re-interpretation of historical data has identified 11 gold in till anomalies. Most of these anomalies lie on relatively narrow, linear positive magnetic features that suggests the gold mineralization is associated with late-stage intrusive activity related to deep seated structures underlying the property. The till sampling program will be completed over the entire project with greater sample density in the following areas:
Paradise Lake - most of the gold anomalies occur within a seven km long zone underlain by Botwood sediments and syenite to diorite intrusive rocks indicating significant post Botwood Formation intrusive activity. Historical exploration identified 14 till sample sites containing between 500 to 1,640 ppb gold, and 61 till samples containing between 5 and 48 gold grains per sample. Pan concentrates from till samples assayed from 900 to greater than 10,000 ppb (10.0 g/t) Au. A sub-crop boulder from within this zone assayed 8.96g/t gold.
Miguels Lake - five areas of anomalous gold in till concentrations have been identified. The geology of this area is complex and includes outcrops of Botwood sediments, mafic dikes, and ophiolite (assigned to the Exploits subzone) and conglomerates assigned to the Rodgerson Lake conglomerates. Historical exploration located 40 till sample sites assaying from 75 to 22,209 ppb (22.2g/t) gold, and 98 till sample sites containing between 1 and 36 gold grains. Analytical results from 40 panned till concentrates from this area ranged from 25 to 9,040 ppb (9.04g/t) gold.
Pistol Lake - six anomalous till sample sites and two gold showings have been identified. The area is underlain by Botwood sediments intruded by carbonatized syenite intrusions. The Elliott gold showing consists of several fine-grained syenite outcrop surrounded by vuggy quartz breccia float exhibiting fine grained disseminated 1-2% pyrite and arsenopyrite. The maximum gold concentrations from this showing are 3.1g/t, 5.2 g/t, and 7.3 g/t gold. Fine visible gold has been panned in tills adjacent to the syenite. Of the 300 rock samples taken from this showing, 46 samples assayed greater than 100 ppb gold and averaged 773 ppb gold with 18 of these samples assaying greater than 750 ppb gold and averaged 2.7 g/t gold.
Ground Truth has been scheduled in early May to complete a systematic project wide glacial till sampling program (2,260 samples) to further delineate existing areas of anomalous gold in till anomalies, and to test the remainder of the property for areas of anomalous gold in till concentrations. Multi-element analysis and gold grain count will be completed on the samples.
The exploration program will focus on areas of gold mineralization and/or auriferous sulphide mineralization hosted in Botwood sediments and/or post Botwood intrusives along the surface trace of re-activated basement structures. The mapping and sampling program in combination with the airborne geophysical data will focus on "ground truthing" historical exploration results while at the same time better defining the geology and structure of the project.
Source of Historical Data:
The historical exploration data and analytical results reported in this news release were taken from assessment reports filed with the Department of Natural Resources, now the Department of Industry, Energy and Technology Newfoundland and Labrador and the vendors. Neither Aurwest nor a qualified person has verified the historical sampling, analytical, and test data contained in this news release. The historical grab sampling results reported in this news release are selected samples and are not necessarily indicative of the mineralization hosted on the property.
Elmer B. Stewart, MSc. P. Geol., a director is the Company's non-independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release.
On Behalf Of Aurwest resources Corporation
President and Chief Executive Officer
For additional information please contact:
About Aurwest Resources Corporation
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada. The Company currently has two Option Agreements to earn a 100% interest in Paradise Lake a 23,600-hectare (236 km2) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company also currently holds a 100% interest in the 22,255 hectare Stellar copper/gold Project, located approximately 25 kilometers southwest of Houston British Columbia.
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation: additional exploration of the Properties may not locate significant gold mineralization, the exploration program may not be completed as planned or at all; the project wide glacial till sampling survey may not be completed as planned or at all; the program may not start as planned or at all; exploration of the 11 areas of anomalous gold in till samples may not locate significant gold mineralization; the Company's ability to raise additional funding to conduct exploration; receipt of permits to conduct the exploration plans and matters relating to the Company's future operations and business prospects; certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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