The North Timmins project consists of more than 100 km2 within the Abitibi Greenstone belt in Ontario. A Pre-Feasibility Study was completed in 2015 on the Bradshaw gold deposit, the most advanced gold project within the extensive property. The study evaluated an underground mine accessible by decline from surface with the primary mining method being longitudinal longhole stoping with unconsolidated and cemented crushed backfill.
Gowest has stockpiled more than 28,000 tonnes of development material on surface as part of a bulk sample program and has entered into a toll-milling agreement with QMX Gold Corporation to process gold ore from Bradshaw at the Aurbel Mill in Val d’Or, Québec. The mill will produce a gold concentrate that will be shipped to the Humon Smelter in China.
The Probable Reserve at Bradshaw is effective as of June 2015 and contains 277 kozs of gold in 1.8 Mt at a grade of 4.8 g/t (3.0 g/t cut-off). The Indicated Mineral Resource consists of 1.2 Mt at 6.2 g/t gold for 422 kozs of contained gold (3.0 g/t cut-off). Gowest is exploring near-mine targets within one km of Bradshaw in order to grow the reserves and resources.
In the greater North Timmins project area, a regional program is exploring for additional gold targets in the many prospective areas on the property.
Pursuant to the completion of its previously announced private placement, Gowest received gross proceeds of C$8.0 million from Fortune Future Holdings Limited to be used towards the completion of the bulk sample at Bradshaw Gold deposit.
Gowest announced results from a drill program consisting of 6 holes and 1,024 meters designed to provide infill detail at the Bradshaw deposit. Two holes were drilled beyond the known deposit into the North Bradshaw gold target area and successfully intersected multiple gold-bearing structures. Highlights include 1.9 meters of 11.5 g/t gold from 268.0 meters including 1.5 meters of 13.6 g/t gold (hole BGM19-045-033).
A toll milling agreement was reached with QMX Gold Corporation allowing Gowest to process material from Bradshaw at their Aurbel Mill in Val d’Or, Québec. Gowest has agreed to fund the work needed to upgrade the mill and its permits and is expecting processing to begin during the 2019 year.