(via TheNewswire)
These new results, which represent an important step in covering all previously-unsampled ground on the Company’s consolidated ~40 square kilometer land package, will be added to in the coming months as the fulsome grid is completed. Vice President Exploration
Key Highlights:
Strong signs of large, zoned geochemical footprints often indicative of significant
Carlin -type gold deposits in the subsurfaceAn expansive, newly-mapped zone of elevated gold-in-soil anomalies includes the entire strike length of the Roberts Mountains Thrust (“RMT”) Fault at East Saddle (see Figure 1)
New positive results will guide upcoming exploration activities focused on drill-target selection, including detailed surface mapping, geophysical surveys, and additional rock-chip and soil sampling
Figure 1: Gold-in-Soils &
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Figure 1 above highlights an extensive new zone of anomalous gold-in-soil values, which also contains anomalous gold in rock-chip samples. The white dotted lines represent simplified structural fabric as evidenced by existing geophysical surveys, mapping, and lineament analysis. Additionally, the RMT Fault is a significant controlling structure.
The gold anomaly in upper-plate rocks displays a pronounced NW-SE trend, is approximately 400 to 700 m wide, and extends from historic mining areas for approximately 5.3 km (3.4 km at strong amplitudes with a further 1.9 km at lower amplitudes). The anomaly closely tracks the surface expression of the RMT Fault, is controlled by both NW-SE and N-S fabric, and remains open to the southeast beyond the limits of the sampling program conducted. This zone is structurally complex, contains numerous multielement geochemical anomalies (including those typically referred to as
Figure 2: Arsenic-in-Soil Samples at Westward’s
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Figure 2 above, highlighting robust arsenic plumes mapped in the soil grid east of historic mining areas and along structural trends, further enhances a broad target zone which has never been drilled. Arsenic is a key pathfinder element for
Figure 3: Antimony-in-Soil Samples at Westward’s
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Beyond the southern arsenic anomaly, an antimony anomaly displayed in Figure 3 above continues for an additional 600 m, further enhancing the prospective nature of this corridor. The Company plans to complete detailed Anaconda-style geological mapping in this area as a near-term priority, as it aims to further delineate and reinforce compelling new drill targets based on a multitude of datasets.
Overall, these new soil geochemical assay results demonstrate that the footprint of a large mineralizing system continues to grow as the Company pushes the boundaries of high-quality data collection outward over its entire consolidated land package. Certain anomalies remain open along strike and require further expansion of field data collection; Westward is excited to begin this important work and launch the 2024 exploration season.
Sampling Methodology, Chain of Custody, Quality Assurance / Quality Control (“QA/QC”)
The Company implemented a best-practices QA/QC program during the surface sampling program. All soil samples were collected by
Option Grant
Westward also announces that it has approved and granted an aggregate of 205,000 stock options (the “Options”) to various consultants of the Company. The Options, which vest immediately, are exercisable at a price of
Qualified Person
The technical information contained in this news release was reviewed and approved by
About
For further information contact:
Chief Financial Officer
+1 (604) 828-7027
andrew@westwardgold.com
www.westwardgold.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes, or developments that the Company expects to occur are, or may be deemed, to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "expect", "believe", "anticipate", "intend", "estimate”, “potential”, “on track”, “forecast", "budget", “target”, “outlook”, “continue”, “plan” or variations of such words and phrases and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved or the negative connotation of such terms.
Such statements include, but may not be limited to, information as to strategy, plans or future financial or operating performance, such as the Company’s expansion plans, project timelines, expected drilling targets, and other statements that express management’s expectations or estimates of future plans and performance.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Additional risk factors and details with respect to risk factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this news release are set out in the Company’s latest management discussion and analysis under “Risks and Uncertainties”, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations, and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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