Drill holes PL-22-01 to PL-22-04; intersected multiple intervals exhibiting quartz-pyrite-arsenopyrite mineralization over an 800m strike length and tested the down dip extension of gold mineralization in float/subcrop/outcrop that ranged from 11.2g/t to 144.7 g/t gold. (see March 14, 2022 news release),
In addition to the quartz-pyrite-arsenopyrite association, trace concentrations of chalcopyrite-galena-sphalerite hosted in quartz veins and quartz breccia have been observed in two drill holes.
Drill Hole #3 is located at Paradise Lake, Central Newfoundland
Drill Hole #1 - The first location of our Phase 1 3,000m drilling program at Paradise Lake, Central Newfoundland
Video footage was taken from Paradise Lake till sampling program from Aurwest Summer 2021 exploration program targeting high priority gold anomalies.
Aurwest Newfoundland projects are situated along the same prolific gold trend in Central Newfoundland that host Marathon Gold's flagship Valentine Lake gold deposit, Sokoman's Moosehead gold discovery and New Found Gold's Queensway project.
The Company currently has three Option Agreements to earn a 100% interest in Paradise Lake projects covering a 23,600-hectare.
Within this northeast trending area, surface exploration located numerous areas of quartz vein/breccias in outcrop/subcrop that returned up to 144.7 g/t gold.
These areas also host pyrite-arsenopyrite bearing Botwood sediments interpreted to be the surface expression of late-stage re-activated faults along which hydrothermal fluids carrying gold and silica emanated upwards from the underlying Lawrenceton volcanics.
The 2021 exploration program located several leakage halos on the surface carrying up to 144.7 g/t gold.
Phase 1 – 3,000-meter drill program at its flagship Paradise Lake gold project in Central Newfoundland currently underway.
Newfoundland is currently the most active under-explored gold district in North America with more than 30 companies exploring for the next big discovery in what’s emerging as a potential major Canadian “area play”.
Exploration model developed to explore for structurally controlled, orogenic and intrusive styles of gold mineralization along the Cape Ray-Valentine Lake trend, and related secondary structures covered by sediments of the Botwood Group.
At the Paradise Lake property, a rock sampling program collected 610 rock samples and 937 till samples.
The Miguel's Lake property work has covering prospecting, mapping and collected 149 rock samples and 211 till samples. The Company also collected 177 rock samples and 400 till samples on the Stony Caldera property.
Paradise Lake Project, 68 rock float samples have been sampled with 12 rocks assaying >45 to 8,963 ppb Au; 14 till samples assaying >500 to 1,640 ppb Au.
Miguels Lake Project, 14 rock samples have been sampled with two rocks assaying from 60 to 381 ppb Au; 40 tills assayed from >75 to 22,209 ppb Au.
Pistol Lake Project, 49 rocks from three showings assayed >100 to 5,160 ppb Au and 6 tills assayed >50 to 7,340 ppb Au. Eleven angular boulder samples assayed >750 ppb Au and averaged 2.3 g Au/t; and 8 boulder samples assayed >1,000 ppb Au and averaged 2.9 g Au/t.
The Company has also commenced its Phase 2 exploration program on Paradise Lake consisting of 71 line km of IP survey.
A geophysical survey identified several previously unrecognized major structures in the basement rock.
Preliminary results from the IP survey over the area of anomalous gold concentrations within the structural corridor have identified linear positive chargeability anomalies covering 4.5 km associated with the intrusive bodies, disseminated pyrite, and low-sulfidation epithermal and structurally controlled gold mineralization up to 144.7 g/t Au from rock sampling.
This combination of results has led to several drill targets being identified for early 2022.
A high-definition IP (induced polarization) geophysical program was completed and a Phase 1 drilling program at Paradise Lake consisted of 18 drill holes totaling 3,796m.
Phase 2 consisted of seven holes totaling 1,050 meters, to follow-up intervals of low-grade gold mineralization intersected by Phase 1 drilling. The target tested by the drilling program is part of a nearly 10 km-long trend identified from surface samples that returned gold concentrations ranging from 0.05 to 144.7g/t gold. Numerous chargeability targets remain to be tested, identified from the 2021 IP geophysical survey.
Upon completion of the initial drilling program and verification of positive results, the company will advance its exploration activities to further define the quality and quantity of potential ore and to determine the most suitable mining and processing techniques.
During the advanced exploration phase, drilling programs are intensified to further enhance knowledge of the shape of the deposit and the characteristics of the orebody. The results of advanced exploration are used to estimate the mineral or coal reserve, and feasibility studies are based on these estimates.
The feasibility stage begins once exploration activities indicate that a mineral or coal deposit is worth further evaluation. Using the estimated mineral/coal reserve as a basis, feasibility studies assess the technical, legal, and economic viability of developing the deposit. Advanced exploration often goes on during the feasibility stage and may result in adjustments to mineral reserve estimates.
Design encompasses the planning stage of mine development and the environmental assessment and permitting processes. During this stage, which often overlaps with the completion of feasibility studies and ongoing advanced exploration, all aspects of mine construction, operation, closure and reclamation are planned in detail.
Once a mine project receives the necessary authorizations, construction can begin. First, site preparation activities, such as cutting trees and clearing and stripping overburden, are conducted. Once the site is ready, construction of the mine, associated buildings and structures, and infrastructures such as roads and bridges, can take place.
Over the life of the mine, construction may occur simultaneously as operation (e.g., if a mine seeks approval to expand its operations, construction of the new part of the mine may take place while the existing part of the mine is in production).
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