- Aurwest Resources (AWR) is releasing the latest results from drilling at its Paradise Lake Project
- The Calgary-based junior exploration and development company drilled up to 6.2 ounces of gold per tonne at the project in Central Newfoundland
- Overall, Phase I diamond drilling consisted of 11 holes totalling 2,746 metres
- The company has now started Phase II drilling to further test priority targets on westside of Twin Ponds
- Aurwest Resources is unchanged, trading at $0.11 at 10:39 am ET
Aurwest Resources (AWR) is releasing the latest results from drilling at its Paradise Lake Project.
The Calgary-based junior exploration and development company drilled up to 6.2 ounces of gold per tonne at the project in Central Newfoundland.
The latest results stem from three drill holes on the property.
Overall, Phase I diamond drilling consisted of 11 holes totalling 2,746 metres.
The company has now started Phase II drilling to further test priority targets on westside of Twin Ponds.
The 2022 mapping and prospecting program is underway and focusing on the west side of the Twin Ponds-Paradise Lake area.
“Our Paradise Lake gold property represents an exciting early-stage gold exploration project. Results to date on our first diamond drilling program on the project has so far intersected a broad range of significant gold concentrations in the syenite intrusion associated with the Cape Ray-Valentine Lake structure. Based on the early results of drilling so far, the exploration model that appears to be evolving is similar to that of the Valentine Lake gold deposit, which suggests the potential for a large tonnage lower grade deposit. The drilling so far has exhibited lower grade “Intrusion Related” gold mineralization with concentrations that are in line with this style of mineralization. Based on the 2021 surface sampling results we are confident that there is also the potential for high-grade gold in this area as indicated by our surface sampling. Despite delays in receiving all the analytical results from the Phase I drill program, Aurwest will continue with a modified Phase II drilling program testing the interpreted extensions of the Phase I results received to date,” said President and CEO Colin Christensen stated.
Aurwest Resources is unchanged, trading at $0.11 at 10:39 am ET.
