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.
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.
The first tranche of Gowest´s private placement closed for gross proceeds of C$1.0 million. The proceeds will be used for working capital purposes and for the continued development of the Bradshaw deposit.
Gowest has completed 2,098 metres of underground development at Bradshaw and 28,567 tonnes of development material have been stockpiled on surface for sorting and milling. Mining has been temporarily suspended due to lack of room for stockpiled material and uncertainty on the timing of material processing.