(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 26, 2023 – Westward Gold Inc. (CSE:WG ) , ( OTC:WGLIF ) , ( FSE:IM50) ( “Westward” or the “Company” ) is pleased toannounce assay results from the first 244.4 meters (802 feet) ofvertical diamond drill hole T2301 at the Company’s Toiyabe GoldProject in Lander County, Nevada ( “Toiyabe” ) ( see pressreleases dated February 15 th ,23 rd , and April12 th , 2023, for additionalinformation) .
Key takeaways from the first 244.4 meters of assays:
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The assays confirm and verify near-surface gold mineralizationintersected in historical reverse-circulation ( “RC” ) hole T802 (1)
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The broader gold system remains open to the north and east foradditional testing
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Gold mineralization extends into the upper plate siliciclastic rockpackage in the near-surface environment
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The system produces high-grade gold (>2 g Au/t)
Figure 1: Significant Gold Assays(Interim Results) – T2301
Note: Gold intervals reported in Figure 1 werecalculated using a 0.14 g Au/t cut-off. Weighted averaging was used tocalculate reported intervals. True widths are estimated at 70-90% ofdrilled thicknesses.
Near-surface gold mineralization was confirmed in the upper platesiliciclastic rock package, traditionally a less-favourable gold hostversus lower plate carbonate rocks. Associated with the near-surfaceupper plate mineralization was oxidation and brecciation, similar towhat is observed down-hole in the lower plate carbonate rocks. Theselower plate rocks were encountered near the limit of available assaysto-date, and continue for the remainder of the hole. One of the keyobjectives of T2301 was to test carbonate stratigraphy downdip fromthe near-surface Courtney historical resource (2) ; it represents a 295-meternortheast step-out from the closest intersection of the deeper SSDZone – a thick, mineralized deformation zone identified by theWestward technical team.
Steve Koehler, Technical Advisor, noted: “Upper plate goldoccurrences along major Nevada gold trends typically form above – orjust slightly outboard from – larger, lower plate gold occurrences.Examples of upper plate mineralization occur near deposits includingGoldstrike, Leeville / Turf, Deep Star, and Pete Bajo.”
In addition to assaying for gold, composite samples were analyzed for36 additional elements via Aqua Regia ICP-ES/MS (1 multielementcomposite sample comprised of every 10 gold samples submitted). Thesemulti-pulp composites provide first-pass characterizations of traceelement geochemistry. Notably, elevated arsenic values were observednear surface, concurrent with the elevated gold values – a hallmarkof Carlin-style deposits along major Nevada gold trends.
Figure 2: Elevated Arsenic ValuesNear Surface
Arsenic values also increased as the intervals approached the contactzone between the upper plate and lower plate rocks, which speaks tothe potential for additional gold mineralization as depth increases.
Figure 3: Elevated Arsenic ValuesApproaching Lower Plate Contact
Dave Browning, Westward’s VP of Exploration, commented: “Theelevated arsenic values are some of the highest recorded in drillsamples at Toiyabe. Its increased presence in T2301 may support ourthesis that the system continues to gain strength to the northeast.”
The Company is also pleased to provide additional technicalinformation and visual results from beyond 500 meters (1,640 feet),building upon the last press release on April 12 th . The brecciation,decalcification, and oxidation observed and described in that releaseremains present (see Figure 4 below). Of particular interest is theincreased presence of pervasive clay alteration and oxidation observedat significant depth (see Figure 5 below).
Dave Browning added: “This level of oxidation has not been observedin previous drilling that reached these depths. The vertical extent ofalteration in T2301 – either as decalcification, silicification, orclay – is impressive in that it is continuous from the contact ofthe lower plate carbonate unit. This consistent alteration at depth isyet another indication that the hydrothermal system is open to thenorth and east.”
Figure 4: 1755.8 to 1764.3 feet /535.1-537.8 meters (note units shown in photo are in feet)
Figure 5: 1904.5 to 1913.5 feet /580.5 to 583.2 meters (note units shown in photo are in feet)
An additional 86.9 meters (285 feet) of core from T2301 have been cutand shipped to Bureau Veritas’ (“BV” ) lab in Elko, NV, and Westward expects the quotedturnaround time of ~3 weeks will remain consistent moving forward. BVis operated at arm’s length to the Company. At this time, thedecision has been made to end the hole at a total depth of 612 meters(2,008 feet), making it the deepest hole ever drilled in the northeasttarget area, and third deepest on the entire property. Whereas thegeological signs point to the hole remaining in potential favourablehost rock, logistics and safety have become increasingly challengingwith snow-melt impacting the roads and drill rig. The Company wouldlike to extend its gratitude to the Scout Drilling LLC crew for theirtireless efforts in completing this hole safely.
Westward believes that the ~365 meters (~1,200 feet) of altered lowerplate carbonate rocks encountered in T2301 will be more thansufficient to test the mineralizing potential of the hydrothermalsystem at depth and to the northeast. Approximately 280 meters (~920feet) of core remain pending delivery to BV and will be shipped withinthe next 1-2 weeks. Given the relatively short wait times for assaysresults, the Company will evaluate next steps in terms of targetingonce those results have been received and incorporated into thegeological model.
Sampling Methodology, Chain of Custody, Quality Controland Quality Assurance “QA/QC”
The Company has implemented a best-practices QA/QC program during thedrilling campaign. All core cutting and sampling is conducted underthe supervision of the Company’s Vice President Exploration orProject Geologist, and the chain of custody from the project to thesample preparation facility is continuously monitored. Samples aretransported directly from the company’s core cutting facility inCrescent Valley, NV by Westward Gold personnel to BV’s certifiedpreparation facility in Elko, NV, where they are crushed andpulverized. Resulting sample pulps are transported to BV’scertified facilities in Sparks, NV for fire assay and Vancouver, BC,for multielement analysis.
Core sample intervals are determined based on geological observationsfrom the technical team. Certified standards and blanks are insertedevery 10 samples. All samples will be analyzed for gold, silver, and35 additional elements. Assays will consist of fire assay / AAS forgold, and Aqua Regia ICP-ES/MS for geochemistry. The data is reviewedand verified by Westward’s Qualified Person prior to disclosure inany news releases, including this one.
Drill hole deviation was measured by gyroscopic down-hole surveys withtooling provided by REFLEX of Elko, NV. The deviation surveys willprovide accurate data about the true inclination and azimuth of theholes. Obtaining an accurate survey of the drillholes leads to abetter contextual understanding of the core samples, and a more robust3D geological model.
(1) Sources: Toiyabe data room anddrill log files inherited from previous operators. The Company and itsqualified person have relied on third-party data during its review ofthe information presented herein, and while it believes theinformation to be relevant to investors, it cautions readers that itshould not be unduly relied upon in drawing inferences on themineralization at Toiyabe, as additional work is required to confirmdrill intercepts and/or soil samples, including (but not limited to):re-sampling and re-assaying of available core and/or pulps,verification of assay certificates where available, review andverification of drillhole geologic logs versus the preserved core andRC cuttings.
(2) Source: NI 43-101 TechnicalReport, American Consolidated Minerals Corporation, Prepared by PaulD. Noland, P. Geo., May 27, 2009 (the “2009 TechnicalReport” ). A qualified person has not done sufficientwork to classify the Historical Estimate at Toiyabe as current mineralresources and Westward is not treating the Historical Estimate onToiyabe as a current mineral resource, as defined in NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects( “NI43-101” ). The HistoricalEstimate was calculated using mining industry standard practices forestimating Mineral Resource and Mineral Reserves (2005) which wasprior to the implementation of the current CIM standards for mineralresource estimation (asdefined by the CIM Definition Standard on Mineral Resources and OreReserves dated May 10, 2014). The key assumptions, parameters andmethods used to prepare the Historical Estimate on Toiyabe aredescribed in the 2009 Technical Report. While Westward considers theHistorical Estimate on Toiyabe disclosed in this news release to berelevant to investors, it cautions readers that it should not beunduly relied upon in drawing inferences on the mineralization onToiyabe, as additional work is required to upgrade or verify theHistorical Estimate as a current mineral resource. This additionalwork includes (but may not be limited to): re-sampling and re-assayingof available core and/or pulps, verification of assay certificates anddigital assay data, verification of select drill hole collars, reviewand verification of drill hole geologic logs versus the preserved coreand RC cuttings, incorporation of AuCN assays to provide a generalunderstanding of metallurgical characteristics, review andverification of mineralization controls and modellingtechniques.
Qualified Person
The technical information contained in this news release was reviewedand approved by Steven R. Koehler, Technical Advisor to the Company,who is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for MineralProjects. Mr. Koehler is a Certified Professional Geologist(CPG) through the American Institute of Professional Geologists(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 ofthe Company’s properties; the effect of changes in commodity prices;regulatory risks that development of the Company’s materialproperties will not be acceptable for social, environmental or otherreasons, availability of equipment (including drills) and personnel tocarry out work programs, that each stage of work will be completedwithin expected time frames, that current geological models andinterpretations prove correct, the results of ongoing work programsmay lead 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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