- Aurwest Resources (AWR) has acquired the Stony Caldera Gold Property in Central Newfoundland
- The five gold exploration licenses referred to as the Stony Caldera property are located within the Golden Corridor of Central Newfoundland
- The project is contiguous with Aurwest’s existing Paradise Lake gold project
- The agreement is subject to CSE approval
- Aurwest Resources is unchanged on the day, with shares of the company trading at C$0.12 at 1:50 pm ET
Aurwest Resources (AWR) has acquired the Stony Caldera Gold Property in Central Newfoundland.
The property totals 24,200 hectares.
The five gold exploration licenses referred to as the Stony Caldera property are located within the Golden Corridor of Central Newfoundland.
The acquisition was completed under an option agreement with an arm’s length vendor to earn a 100 per cent in the project.
The project is contiguous with Aurwest’s existing Paradise Lake gold project covering 23,600 hectares. The two combined project areas now total 47,800 hectares.
The agreement is subject to CSE approval.
The Golden Corridor is an approximately 450-kilometre long crustal-scale fault-shear zone which hosts three gold deposits containing over 6 million ounces of gold and over 100 known gold showings along its length.
“With this strategic acquisition, Aurwest now controls one of the largest gold exploration blocks in this part of Central Newfoundland, including approximately 50kms of strike length of the Golden Corridor in this emerging gold district. The Property exhibits large areas of alteration, sulfidation, pathfinder elements and anomalous gold concentrations overlying the interpreted trace of the Golden Corridor, and is considered to have the potential to host several styles of gold mineralization including epithermal style gold mineralization,” said Aurwest President and CEO Colin Christensen.
The company plans to begin prospecting and sampling, geological mapping and geotechnical testing at the site.
Aurwest Resources is unchanged on the day, with shares of the company trading at C$0.12 at 1:50 pm ET.
