(TheNewswire)
Vancouver, British Columbia, May 7, 2024 – TheNewswire – Westward Gold Inc. (CSE: WG, OTCQB:WGLIF, FSE: IM50) ( “Westward” or the “Company” ) is pleased to report gold and multi-element assay results for606 soil samples collected on the Company’s 100%-owned Toiyabe andEast Saddle Properties, situated along the Cortez Trend in LanderCounty, Nevada. This phase of the survey – conducted at the end of2023 prior to winter conditions setting in – was primarily designedto extend existing coverage southward over the exposed lower-platecarbonate window at East Saddle, and adjacent portions of theoverlying upper-plate siliciclastic formations due east of thepast-producing Toiyabe-Saddle Mine open pits. The soil samples werecollected at nominal 100-meter spacings, and have been integrated intoexisting soil datasets from the Turquoise Canyon Property.
These new results, which represent an important step in covering allpreviously-unsampled ground on the Company’s consolidated ~40 squarekilometer land package, will be added to in the coming months as thefulsome grid is completed. Vice President Exploration Robert Edie hasrecently returned from the Company’s properties, and groundconditions are now sufficiently favourable to kick off planned 2024exploration activities (described in detail in Westward’s pressrelease dated February 27, 2024).
Key Highlights:
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Strong signs of large, zoned geochemical footprints often indicativeof significant Carlin-type gold deposits in the subsurface
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An expansive, newly-mapped zone of elevated gold-in-soil anomaliesincludes the entire strike length of the Roberts Mountains Thrust( “RMT” ) Fault at EastSaddle (see Figure 1)
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New positive results will guide upcoming exploration activitiesfocused on drill-target selection, including detailed surface mapping,geophysical surveys, and additional rock-chip and soil sampling
Robert Edie, Westward’s Vice President Exploration, commented:“The results of this phase of our soil sampling program continue toimprove our insight into the stratigraphic and structural controls ongold at our properties. With this enhanced understanding we can vectorinto the highest-priority targets for drilling, while mitigating risksand maximizing potential for success when drill dollars aredeployed.”
Kelly Cluer, Strategic Advisor to the Company, added: “The generalgeology indicates that major strata of the lower and upper plates dipgently to the east in the area of the new soil array. This indicatesthat significant portions of the large geochemical footprint arepreserved under relatively shallow cover, and coincide with majorgeophysically-imaged structural corridors – an ideal setting for newdiscoveries.”
Figure 1: Gold-in-Soils & RockChip Samples at Westward’s Consolidated Properties
Figure 1 above highlights an extensive new zone of anomalousgold-in-soil values, which also contains anomalous gold in rock-chipsamples. The white dotted lines represent simplified structural fabricas evidenced by existing geophysical surveys, mapping, and lineamentanalysis. Additionally, the RMT Fault is a significant controllingstructure.
The gold anomaly in upper-plate rocks displays a pronounced NW-SEtrend, is approximately 400 to 700 m wide, and extends from historicmining areas for approximately 5.3 km (3.4 km at strong amplitudeswith a further 1.9 km at lower amplitudes). The anomaly closely tracksthe surface expression of the RMT Fault, is controlled by both NW-SEand N-S fabric, and remains open to the southeast beyond the limits ofthe sampling program conducted. This zone is structurally complex,contains numerous multielement geochemical anomalies (including thosetypically referred to as Carlin-suite elements), as well as a gravityhorizontal gradient feature potentially indicating a deep-seated faultzone (further described in the Company’s February 27, 2024 pressrelease). Fault-related damage zones in this corridor (the “Hilltop Corridor” ) are thoughtto have structurally prepared the carbonate host rocks making themsusceptible to Carlin-type gold deposition.
Figure 2: Arsenic-in-Soil Samples atWestward’s Consolidated Properties
Figure 2 above, highlighting robust arsenic plumes mapped in the soilgrid east of historic mining areas and along structural trends,further enhances a broad target zone which has never been drilled.Arsenic is a key pathfinder element for Carlin-type gold deposits inthis geological setting. Notably, arsenic-in-soil values decrease tothe east, likely indicative of a gradual eastward thickening ofupper-plate lithologies that effectively attenuate geochemicalsignals. Despite this directional weakening however, the anomalousarsenic feature is apparent over 5+ km and remains open to the east,which speaks to its scale.
Figure 3: Antimony-in-Soil Samples atWestward’s Consolidated Properties
Beyond the southern arsenic anomaly, an antimony anomaly displayed inFigure 3 above continues for an additional 600 m, further enhancingthe prospective nature of this corridor. The Company plans to completedetailed Anaconda-style geological mapping in this area as a near-termpriority, as it aims to further delineate and reinforce compelling newdrill targets based on a multitude of datasets.
Overall, these new soil geochemical assay results demonstrate that thefootprint of a large mineralizing system continues to grow as theCompany pushes the boundaries of high-quality data collection outwardover its entire consolidated land package. Certain anomalies remainopen along strike and require further expansion of field datacollection; Westward is excited to begin this important work andlaunch the 2024 exploration season.
Sampling Methodology, Chain ofCustody, Quality Assurance / Quality Control (“QA/QC”)
The Company implemented a best-practices QA/QC program during thesurface sampling program. All soil samples were collected by RobertEdie, Westward’s Vice President Exploration and one independentcontractor working under Robert Edie’s supervision. Robert Edie wason-site throughout the fieldwork campaign and transported all samplespersonally. The average weight of each sample was 0.35 kilograms.Coordinates for each sample were collected by Garmin GPS units indatum UTM NAD 83 Zone 11 meters and recorded in a spreadsheet. Soilsamples were transported from the field collection areas by RobertEdie to his home in Zephyr Cove, NV, and then to ALS’ certifiedlaboratory at 4977 Energy Way, Reno, NV 89502. There, the sampleswere crushed and pulverized; resulting sample pulps (30g sample weightfor gold and 500mg for multielement) were analyzed by ALS Reno forgold at 4977 Energy Way, Reno, NV, 89502 and ALS Vancouver formultielement at 2103 Dollarton Hwy, North Vancouver, BC, Canada. ALSis independent of the Company. Certified reference materials ( “CRMs” ) purchased from MomentExploration Geochemistry in Lamoille, NV, were inserted into the soilsample stream at a frequency of one every 25th sample (4%). Four CRMswere inserted at random, three with known gold values, and onecertified blank. All results were deemed to be within acceptableanalytical limits for disclosure.
Option Grant
Westward also announces that it has approved and granted an aggregateof 205,000 stock options (the “Options” ) to various consultants of the Company. TheOptions, which vest immediately, are exercisable at a price of C$0.12per common share of the Company for a period of two (2) years from thedate of grant.
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:
Andrew Nelson
Chief Financial Officer
Westward Gold Inc.
+1 (604) 828-7027
andrew@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 may lead to a change of exploration priorities,and the efforts and abilities of the senior management team. This listis not exhaustive of the factors that may affect any of theCompany’s forward-looking statements or information. These and otherfactors may cause the Company to change its exploration and workprograms, not proceed with work programs, or change the timing ororder of planned work programs. Additional risk factors and detailswith respect to risk factors that may affect the Company’s abilityto achieve the expectations set forth in the forward-lookingstatements contained in this news release are set out in theCompany’s latest management discussion and analysis under “Risksand Uncertainties”, which is available under the Company’s SEDAR+profile at www.sedarplus.ca. Although the Company has attempted toidentify important factors that could cause actual results to differmaterially, there may be other factors that cause results not to be asanticipated, estimated, described or intended. Accordingly, readersshould not place undue reliance on forward-looking statements orinformation. The Company’s forward-looking statements andinformation are based on the assumptions, beliefs, expectations, andopinions of management as of the date of this press release, and otherthan as required by applicable securities laws, the Company does notassume any obligation to update forward-looking statements andinformation if circumstances or management’s assumptions, beliefs,expectations or opinions should change, or changes in any other eventsaffecting such statements or information.
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