- Aurwest (AWR) has received approval for a 33-hole, 10,000-meter drilling program on its Paradise Lake gold project in central Newfoundland
- The phase one stage will include 13 drillholes totalling approximately 3,000 meters of drilling
- The drilling program will test several priority targets for their gold potential
- Aurwest is a Canadian-based junior resource company focused on the exploration and development of gold properties
- Aurwest Resources Corporation (AWR) is unchanged, trading at C$.105 per share at 2:30 pm EST
Aurwest (AWR) has received approval for a 33-hole, 10,000-meter drilling program on its Paradise Lake gold project in central Newfoundland.
The phase one stage will include 13 drillholes based on approximately 3,000 meters of drilling which is scheduled to commence in late January subject to weather conditions.
Mr. Colin Christensen commented on the upcoming drilling program.
“Our 2021 field program was designed to explore for gold bearing structures associated with the interpreted major structural zone that underlies the project, evidenced by “leakage halos” in outcrops and sub-crops of the Botwood sediments. Our field program located several leakage halos in the Paradise Lake – Twin Ponds area of the property that exhibit a spatial correlation with the chargeability anomalies outlined by the recent IP survey and interpreted basement structures. The leakage halos are interpreted to represent late-stage structures that acted as channel ways for hydrothermal solutions emanating from depth depositing gold and pyrite in the Botwood sediments. The planned drilling program will be designed to test these leakage halos at depth exploring for gold in the volcanic rock underlying the Botwood sediments. We’re excited to finally get started in testing these targets for their gold potential.”
Priority targets for the drilling program will be selected based on a compilation of previous airborne geophysical surveys, mapping, and geochemical surveys as well as the recently completed IP survey. The objective is to identify the source of high-grade gold in quartz-rich boulders that coincide with buried geophysical anomalies surrounding Paradise Lake. The program will last for approximately two months and results are expected in spring 2022.
Aurwest is a Canadian-based junior resource company focused on the exploration and development of gold properties.
Aurwest Resources Corporation (AWR) is unchanged, trading at C$.105 per share at 2:30 pm EST.