- Aurwest Resources (AWR) is releasing a series of results from the maiden drilling program on its Paradise Lake Gold Project
- The Calgary-based junior resource company has completed four holes so far, with a fifth currently underway
- The project is located in the emerging Central Newfoundland gold district
- All four completed drill holes intersected multiple intervals exhibiting a quartz-pyrite-arsenopyrite mineral association
- Aurwest Resources is unchanged, trading at $0.11 at 10:34 a.m. EST
Aurwest Resources (AWR) is releasing a series of results from the maiden drilling program on its Paradise Lake Gold Project.
The Calgary-based junior resource company has completed four holes so far, with a fifth currently underway.
The Paradise Lake and Stony Caldera projects cover a 47,800-hectare package of gold exploration licenses within the emerging Central Newfoundland gold district.
All four completed drill holes intersected multiple intervals exhibiting a quartz-pyrite-arsenopyrite mineral association, associated with quartz veining quartz stockwork and quartz breccia.
“These four drill holes represent the first ever drilling of gold occurrence in the Paradise Lake area. The intervals of quartz-pyrite-arsenopyrite mineral association for which assays are pending, are encouraging. These four drill holes tested a zone exceeding 800 meters of strike length exhibiting the quartz-pyrite-arsenopyrite mineral association with up to 144.7 g/t Au, associated with the interpreted Cape Ray-Valentine Lake Structural Zone. Several priority drill targets coinciding with chargeability anomalies identified in a 2021 IP program remain to be tested,” said President and CEO Colin Christensen.
Nine holes remain to complete the Phase 1, 3,000-metre drilling program before the this spring.
Sample preparation and analytical work is being completed at a laboratory in Vancouver.
Aurwest Resources is unchanged, trading at $0.11 at 10:34 a.m. EST.