- Aurwest (AWR) commences drilling at Paradise Lake Gold Property, Central Newfoundland
- The drilling program will focus on the Twin Ponds-Paradise Lake area where 2021 exploration located a 5kms long northeast trending positive chargeability anomaly
- Within this northeast trending area, surface exploration located numerous areas of quartz vein/breccias in outcrop/subcrop
- These areas also host pyrite-arsenopyrite bearing Botwood sediments interpreted to be the surface expression of late-stage re-activated faults
- Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada
- Aurwest Resources Corporation (AWR) is down 4.17 per cent, trading at C$0.12 at 12:50 pm EST
Aurwest Resources Corporation (AWR) has commenced its Phase 1 – 3,000-meter drill program at the Paradise Lake gold project in Central Newfoundland.
The first drill hole, located near Twin Pond, approximately 21 km south of Grand Falls, is targeting a high-priority gold anomaly from the recently completed IP survey.
Colin Christensen, President & CEO of Aurwest commented on the program.
“The drilling will target an area exhibiting post-Botwood intrusive activity, positive chargeability signatures and silicified areas with gold-pyrite mineralization on the surface.
“The combination of these features represents priority drillings targets to test the down-dip extensions of interpreted leakage halos originating from the Lawrenceton volcanics below the Botwood sediments,” added Christensen.
The initial drilling program will focus on the Twin Ponds-Paradise Lake area where 2021 exploration located a 5kms long northeast trending positive chargeability anomaly; several late-stage intrusives; and a magnetic low along with an interpreted basement structure.
Within this northeast trending area, surface exploration located numerous areas of quartz vein/breccias in outcrop/subcrop that returned up to 14.2 g/t gold.
These areas also host pyrite-arsenopyrite bearing Botwood sediments interpreted to be the surface expression of late-stage re-activated faults along which hydrothermal fluids carrying gold and silica emanated upwards from the underlying Lawrenceton volcanics.
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada.
It currently has three option agreements to earn a 100 per cent interest in Paradise Lake and Stony Caldera projects covering a 47,800-hectare (478 sq km) package of gold exploration licenses within the emerging Central Newfoundland gold district.
Aurwest also currently holds a 100 per cent interest in the 28,294-hectare Stellar/Stars porphyry copper project, located approximately 25 kilometres southwest of Houston, British Columbia.
Aurwest Resources Corporation (AWR) is down 4.17 per cent, trading at C$0.12 at 12:50 pm EST.