Aurwest Resources Corporation announced final drilling results from its Phase 2 drilling program completed at its Paradise Lake gold project in Central Newfoundland. Phase 2 consisted of seven holes totaling 1,050-meters, to follow-up intervals of low-grade gold mineralization intersected by Phase 1 drilling. The drilling program at Paradise Lake consisted of 18 drill holes totaling 3,796m.

Phase 2 Drilling: The target tested by the drilling program is part of a nearly 10 km long trend identified from surface samples that returned gold concentration ranging from 0.05 to 144.7g/t gold. Numerous chargeability targets remain to be tested, identified from the 2021 IP geophysical survey. Hole PL-22-16 intersected a 10.9-meter core interval of 0.21 g/t Au.

This zone of shallow pyrite-arsenopyrite mineralization is apparent in the 2021 IP geophysical results as a chargeability high. The host rock consists of various phases of syenite, diorite and mafic dykes with local xenoliths of other intrusive and felsic volcanic rocks. Alteration consists of variable degrees of fine-grained interstitial chlorite-carbonate-K-feldspar-pyrite and quartz-sericite-ankerite.

Quartz veins vary from laminated, massive, breccia and stockwork-like. They are often vuggy and contain fine-grained pyrite and arsenopyrite. Only veins that contain significant arsenopyrite-pyrite content returned significant gold concentrations.

PL-22-12 (161m, 291 o, -45 o) is located 50m south of collar PL-22-01/02. It targeted a 400m wide chargeability high beneath the lake and corresponding gold grades and pyrite-arsenopyrite intersected in hole PL-22-01/02. The hole collared into cross bedded siltstone from 22-25.3m depth.

Syenite was then intersected until end of hole with at least 3 distinct chilled margins. Eleven zones from 1-10m wide contain trace amounts, up to 5% fine-grained pyrite-arsenopyrite, disseminated, fracture filling and in veins up to 6cm wide. Alteration in the syenite includes variable K-feldspar-chlorite-leucoxene-ankerite and veins of quartz-chlorite-ankerite/calcite.

PL-22-13 (164.2m, 070 o, -45 o) is located on the northwest side of Twin Pond targeting an area of angular quartz veins with up to 144 g/t Au. The hole collared into syenite at 22.2m and continued until the end of the hole. Interbedded bedded greywacke/siltstone was intersected over the core interval from 73 to150m.

An intermediate dyke occurs from 69-73m. Only trace amounts of pyrite occur in moderately altered syenite and siltstone. Fine-grained pyrite occurs as disseminations, fracture fill, and in breccias/fault zones up to 1.5m wide.

Alteration includes moderate, interstitial to pervasive pink K-feldspar, chlorite-leucoxene-calcite-ankerite. PL-22-14 (159m, 040 o, -45 o) is located 160m west of PL-22-13. It targeted a broad positive resistivity signature.

The hole collared into sediments consisting of cross bedded greywacke and maroon siltstone until end of hole. Bedding appears steeply dipping to the east. The syenite contact was not intersected as was anticipated.

Two mafic dykes were intersected at 20 and 70m depth and are 1 and 3.5m wide. Only trace amounts of fine-grained pyrite and chalcopyrite were intersected in the mafic dykes. PL-22-15 (155m, 105 o, -45 o) is located 290m west of collar PL-22-01/02.

It targeted the mineralization intersected in hole PL-22-01/02, and chargeability high beneath North Twin Pond. It collared into siltstone from 12-17m depth. Syenite was intersected from 17-34m, 35-41m, and 43-155m depth, each separated by thin bedded siltstone and greywacke.

The intrusions range from glassy pink to grey plag-phyric and medium grained holocrystalline. Numerous zones contain trace amounts of fine-grained, disseminated pyrite and in quartz veins 1-5cm thick. Alteration includes patchy, pink K-feldspar-chlorite-leucoxene-ankerite alteration.

PL-22-16: (137m, 115o/-45 o) is located on the west side of North Twin Pond drilling southeast towards hole PL-22-12 and 100m south of PL-22-15 along the same linear syenite intrusion. The hole collared into interbedded green-grey wacke and maroon argillite from 8.7-58m depth and syenite intrusion to end of hole. Pyrite-arsenopyrite ranges from trace amounts up to 7% interval within the syenites over broad intervals up to 15m.

Fault zones and brecciated syenite contain arsenopyrite mineralization related to quartz veining. Alteration includes pervasive k-feldspar with zones of strong ankerite, sericite and chlorite. PL-22-17: (122m, 295o/-45 o) is located roughly 50m south of hole PL-22-07 testing the same mineralized structure observed in PL-22-07.

The hole collared in syenite and intersected 3 distinct syenites before contacting interbedded green-grey wacke and maroon argillite. Five weakly mineralized zones are identified. Based on analytical results, no intervals contained greater that 100 pb gold.

Quartz veins are very thin and contain trace amounts of pyrite. Alteration is patchy and consists of k-spar, sericite, chlorite and ankerite, where ankerite and sericite is local, and chlorite and k-spar are more prominent. PL-22-18: (116m, 025o/-45 o) is located at the same pad as hole PL-22-07 drilling northeast.

The hole collared into syenite at 9.8m depth. Mineralization is hosted mainly within a darker diorite altered by quartz-calcite-ankerite-pyrite-arsenopyrite related to strong fracturing. It also contains pervasive K-feldspar and sericite with local ankerite.

It contains 1-3% pyrite-arsenopyrite mineralization over several zones up to 3m wide. The diorite has a faulted lower contact hosting local arsenopyrite mineralization. Exploration update: Property wide prospecting and mapping at the Miguel's Lake, Stony Caldera, and Paradise Lake Projects began in May.

In total 530 rock samples have been collected from outcrop, subcrop and angular float. Results have been received for 306 of these samples, 29 of which returned >50 ppb Au up to 4.03 g/t Au. Prospecting has identified several areas of outcropping quartz veining and pyrite-mineralization with rare visible gold.

This area is 4.5 km northwest of Phase 1 and Phase 2 drilling area at Twin Ponds. Detailed spot chip sampling of the outcrop returned from 1.60 to 4.03 g/t gold, and 3.06 g/t silver in four samples over an exposure of 15 meters length. Channel sampling is planned to further assess the potential widths and grade of this high priority target.