(TheNewswire)
Vancouver, British Columbia – TheNewswire -- January 18, 2024 – Westward Gold Inc. (CSE:WG )( OTC:WGLIF ) ( FSE:IM50) ( “Westward” or the “Company” ) is pleased to announce results from its regional rock chipsampling program completed in late 2023. A total of 353 samples werecollected covering the Company’s consolidated land position alongthe Cortez Trend, made up of the Toiyabe, Turquoise Canyon, and EastSaddle Projects in Lander County, Nevada (collectively, the “Properties” ). Gold andmulti-element assay results will be analyzed in order to furtherdefine priority areas for continued exploration (including detailedmapping, geophysical surveys, and eventual drilling).
The results demonstrate that Carlin-type alteration is widespread onWestward’s Properties, and continues to the east and south of knownmineralization at the Toiyabe Project, onto the Turquoise Canyon andEast Saddle Projects. This work further validates the need foraggressive exploration of those projects, which have seen little to noknown drilling in the past. The rock chip sample location distributionand gold assay value ranges (expressed in ppb Au) are displayed inFigure 1 below.
Figure 1: Rock Chip SampleDistribution & Gold Assay Ranges (ppb Au)
Notable results and locations from the East Saddle dataset are shownin Table 1 and Figure 2 below, with the highest reported value foreach element highlighted. The samples contain elevated values of gold,arsenic, mercury, antimony, thallium, and selenium – similartrademarks of Carlin-type deposits in the region. One notable samplereturned 253 ppb Au from an upper plate siliceous chert and mudstoneoutcrop with abundant quartz veining and oxidation, key alterationfeatures in Carlin-type systems. This sample also contained 782 ppm As(arsenic), a pathfinder element commonly associated with golddeposition. Two nearby samples returned gold values of 82 and 53 ppb,respectively, both in upper plate siliciclastic outcrops; these threesamples coincide with a prominent gravity embayment from theCompany’s geophysical dataset (see Figure 3). A gravity embaymentoccurs when there are significant changes in density over shortdistances, and relates to alteration of carbonate rocks under cover(commonly decalcification). Similar prospective outcrops for 900meters eastwards were not sampled in this program and will be followedup on in 2024.
Table 1: Notable Assay Results fromEast Saddle Project
Figure 2: Location of Notable EastSaddle Samples
Figure 3: Horizontal Gradient ofGravity, Notable Gold / Arsenic & Associated GravityEmbayment
An additional area of importance defined by the sampling program atthe East Saddle Project is highlighted in Figures 4 and 5 below.Geochemical assay results including gold, arsenic, mercury, andantimony delineate a corridor of anomalies spanning 2,500 meters.Anomalous results are dominantly found within prospective lower platelimestone, and are slated for follow-up work in 2024.
Figure 4: Notable Prospective Area(East Saddle Project); Sample Arsenic Value Ranges (ppm)
Figure 5: 2,500-Meter Trend Definedby Geochemical Anomalies at East Saddle Project
Notable results and locations from the Turquoise Canyon dataset areshown in Table 2 and Figure 6 below, with the highest reported valuefor each element highlighted. The samples contain elevated values ofgold, silver, arsenic, mercury, antimony, and selenium – similartrademarks of Carlin-type deposits in the region. Some samples containelevated copper and zinc, which correlate to turquoise occurrences onthis property. The highlighted gold value (71 ppb Au) was returnedfrom a sample collected from a historical turquoise prospect (seeFigure 7 below); this sample also contained 85 ppm silver, and over 1%copper. Three additional samples in the area returned copper values of>1%, 0.20%, and 0.21% respectively. This area is slated to befollowed up on with detailed mapping and further sampling in 2024.
Table 2: Notable Assay Results fromTurquoise Canyon Project
Figure 6: Location of NotableTurquoise Canyon Samples
Figure 7: TC-RE-061-RK (71 ppb Au, 85ppm Ag, >1% Cu)
Another area of note defined through the sampling program at TurquoiseCanyon is highlighted in Figure 8 below. Geochemical results includinggold, arsenic, mercury, and antimony define a corridor of anomaliesspanning approximately 700 meters. These anomalies coincide with amajor thrust fault which is overlaying the Vinini Formation on top ofthe Valmy Formation, as well as a prominent resistivity anomaly.
Figure 8: Resistivity Anomaly atTurquoise Canyon with Notable Geochemical Results &Faulting
Robert Edie, Westward’s Vice President Exploration, commented:“I’m very pleased with the results of this surface samplingprogram. The gold and multi-element assay data received demonstratethe need for continued aggressive exploration in the year ahead. Theseresults also provide further evidence that a Carlin-type systemextends east and south of known mineralization at Toiyabe. Many newprospective target areas warrant additional work to advance themtowards first-ever drilling; this land package is primed fordiscovery.”
Sampling Methodology & Chain ofCustody
The Company implemented a best-practices QA/QC program during thesurface sampling program. All rock chip samples were collected byRobert Edie, Westward’s Vice President Exploration. Coordinates foreach sample were collected by Garmin GPS units in datum UTM NAD 83Zone 11 meters and recorded in a spreadsheet, along with a visualdescription of each sample. Samples were transported from the fieldcollection areas by Robert Edie to Bureau Veritas’ ( “BV” ) certified preparationfacility at 605 Boxington Way, Suite 101, Sparks NV 89434, where theywere crushed and pulverized. Resulting sample pulps (30g sample sizefor gold and 500mg for multi-element) were analyzed in Sparks, NV forfire assay and Vancouver, BC for multi-element. BV is independent ofthe Company.
Quality Assurance / QualityControl
Certified reference materials ( “CRMs” ) purchased from Moment Exploration Geochemistry inLamoille, NV, were inserted into the rock chip sample stream at afrequency of one every 25 th sample (4%). Four CRMs were inserted at random, three withknown gold values, and one certified blank. All CRMs inserted into thesample stream returned gold values within the expected range of theknown values.
Qualified Person
The technical information contained in this news release was reviewedand approved by Robert Edie, Vice President Exploration of theCompany, who is a Qualified Person under National Instrument 43-101– Standards of Disclosure forMineral Projects. Mr. Edie is a Certified ProfessionalGeologist (CPG) through the American Institute of ProfessionalGeologists (AIPG).
About Westward Gold
Westward Gold is a mineral exploration company focused on developingthe Toiyabe, Turquoise Canyon, and East Saddle Projects located in theCortez Hills area of Lander County, Nevada, and the Coyote and RossiProjects located along the Carlin Trend in Elko County, Nevada. Fromtime to time, the Company may also evaluate the acquisition of othermineral exploration assets and opportunities.
For further information contact:
Colin Moore
President, CEO & Director
Westward Gold Inc.
colin@westwardgold.com
www.westwardgold.com
The Canadian Securities Exchange hasneither approved nor disapproved the contents of this news release.The Canadian Securities Exchange does not accept responsibility forthe adequacy or accuracy of this news release.
This news release contains orincorporates by reference “forward-looking statements” and“forward-looking information” as defined under applicable Canadiansecurities legislation. All statements, other than statements ofhistorical fact, which address events, results, outcomes, ordevelopments that the Company expects to occur are, or may be deemed,to be, forward-looking statements. Forward-looking statements aregenerally, but not always, identified by the use of forward-lookingterminology such as "expect", "believe","anticipate", "intend", "estimate”,“potential”, “on track”, “forecast","budget", “target”, “outlook”, “continue”,“plan” or variations of such words and phrases and similarexpressions or statements that certain actions, events or results“may”, “could”, “would”, “might” or “will” betaken, occur or be achieved or the negative connotation of suchterms.
Such statements include, but may notbe limited to, information as to strategy, plans or future financialor operating performance, such as the Company’s expansion plans,project timelines, expected drilling targets, and other statementsthat express management’s expectations or estimates of future plansand performance.
Forward-looking statements orinformation are subject to a variety of known and unknown risks,uncertainties and other factors that could cause actual events orresults to differ from those reflected in the forward-lookingstatements or information, including, without limitation, the need foradditional capital by the Company through financings, and the riskthat such funds may not be raised; the speculative nature ofexploration and the stages of the Company’s properties; the effectof changes in commodity prices; regulatory risks that development ofthe Company’s material properties will not be acceptable for social,environmental or other reasons, availability of equipment (includingdrills) and personnel to carry out work programs, that each stage ofwork will be completed within expected time frames, that currentgeological models and interpretations prove correct, the results ofongoing work programs maylead to a change of exploration priorities, and the efforts andabilities of the senior management team. This list is not exhaustiveof the factors that may affect any of the Company’s forward-lookingstatements or information. These and other factors may cause theCompany to change its exploration and work programs, not proceed withwork programs, or change the timing or order of planned work programs.Additional risk factors and details with respect to risk factors thatmay affect the Company’s ability to achieve the expectations setforth in the forward-looking statements contained in this news releaseare set out in the Company’s latest management discussion andanalysis under “Risks and Uncertainties”, which is available underthe Company’s SEDAR profile at www.sedar.com. Although the Companyhas attempted to identify important factors that could cause actualresults to differ materially, there may be other factors that causeresults not to be as anticipated, estimated, described or intended.Accordingly, readers should not place undue reliance onforward-looking statements or information. The Company’sforward-looking statements and information are based on theassumptions, beliefs, expectations, and opinions of management as ofthe date of this press release, and other than as required byapplicable securities laws, the Company does not assume any obligationto update forward-looking statements and information if circumstancesor management’s assumptions, beliefs, expectations or opinionsshould change, or changes in any other events affecting suchstatements or information.
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