(TheNewswire)
Vancouver, British Columbia – TheNewswire - October 10, 2023 – Westward Gold Inc. (CSE:WG ) , ( OTC:WGLIF ) , ( FSE:IM50) ( “Westward” or the “Company” ) is pleased to provideinvestors with an update on recent field activities conducted by VicePresident Exploration Robert Edie. Mr. Edie spent two weeks inSeptember at all five of the Company’s properties in Nevada,including the consolidated Toiyabe district on the Cortez Trend (madeup of the Toiyabe, Turquoise Canyon, and East Saddle Projects), andthe Coyote and Rossi Projects on the northern end of the Carlin Trend.He performed detailed geological reconnaissance – traversingapproximately 50% of the total land area – and collected 192 surfacerock chip samples to be analyzed for gold and multi-element data. Theinformation gathered from this important baseline work will helpimprove geological models and targeting, especially at prospectiveareas of Turquoise Canyon and East Saddle, projects which are beingadvanced towards first-ever drilling. Additional information relatedto upcoming planned exploration activities can be found inWestward’s recent press release dated September 7, 2023.
Cortez Trend Properties
At the Toiyabe, Turquoise Canyon, and East Saddle Projects, surfacereconnaissance identified a widespread area of compressional tectonicsin the upper-plate Vinini Formation. Key structures observed includedrecumbent folds (Figure 1 below), parasitic folds (Figure 2 below),and large-scale disharmonic folds (Figure 3 below). This set oftectonic features, and their orientations, indicate that the area hasexperienced multiple compressional events. Detailed Anaconda-stylemapping is planned on ground for which that wasn’t alreadycompleted, with a focus on defining important structural intersections– which can act as fluid traps in Carlin-type gold deposits.
Figure 1: Recumbent Fold on the EastSaddle Property in Upper-Plate Vinini Formation;
Evidence for Compressional Tectonics
Figure 2: Parasitic S-fold LookingNorth at the East Saddle Property in Upper-Plate Vinini Formation;
Continued Evidence for Compressional Tectonics
Figure 3: Large-Scale BrecciatedDisharmonic fold on the Turquoise Canyon Property
187 surface rock chip samples were collected from the Toiyabe,Turquoise Canyon, and East Saddle Projects (see Figure 4 below forlocation distribution). These samples will be assayed for both goldand multi-element data. Abundant quartz veining was observed cuttingthrough both upper-plate and lower-plate stratigraphy, with some veinsbeing as wide as one foot (see Figure 5 below). In addition, an areaof decalcified, silicified limestone was identified and sampled. Thistype of hydrothermal alteration is a common occurrence near and withinCarlin-type gold deposits.
Robert Edie, Westward’s Vice President Exploration, noted: “Aftercompleting my first significant stint in the field since joining theCompany, I’m delighted to confirm with my own eyes that the ToiyabeProperties and Coyote/Rossi contain several key components necessaryto host Carlin-type gold deposits. Compressional tectonics,hydrothermal alteration, and the presence of igneous dikes were allverified. The important puzzle pieces are there and the process ofputting them all together is well underway.”
Figure 4: Location of Rock ChipSamples Collected from the Toiyabe, Turquoise Canyon, and East SaddleProjects
Figure 5: Example of 1-Foot-WideQuartz Vein Cutting through Upper-Plate Vinini Formation
Carlin Trend Properties
At the Company’s Coyote and Rossi Projects on the Carlin Trend,tectonic breccia was observed along the mapped Coyote NE Fault,trending at an azimuth of 065 ° (see Figure 6below) , an identical orientation to the mapped fault. Localsmall-scale structures often coincide with larger-scale structuresdeveloped regionally in Carlin-type gold deposits.
Another set of structures trending at an azimuth of 010 ° and intersecting the Coyote NE fault were also observed.These structural intersections traditionally form a preferentialsetting for increased gold mineralization in Carlin-type golddeposits. Hydrothermal alteration observed in outcrops includespecular hematite, quartz veining (see Figure 7 below), andbarite.
Figure 6: Tectonic Breccia Developedin Upper-Plate Vinini Formation;
Evidence for Compressional Tectonics
Figure 7: Hydrothermal Quartz VeinsDeveloped in Upper-Plate Vinini Formation,
Above the Prospective Lower-Plate Carbonate Rocks
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 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 details with respect to risk factorsthat may affect the Company’s ability to achieve the expectationsset forth in the forward-looking statements contained in this newsrelease are set out in the Company’s latest management discussionand analysis under “Risks and Uncertainties”, which is availableunder the Company’s SEDAR profile at www.sedar.com. Although theCompany has attempted to identify important factors that could causeactual results to differ materially, there may be other factors thatcause results not to be as anticipated, estimated, described orintended. 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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