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Gold/Mining/Energy : Gowest Amalgamated

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From: canucklehead80	11/28/2012 3:51:22 AM
	of 2

Third Party, Big Savings Gowest Plans to Contract Out Gold Processing in Timmins Kevin Michael Grace November 27, 2012 - Gowest Gold Ltd V.GWA announced November 20 an updated resource estimate for the Frankfield East Gold Deposit at its North Timmins Gold Project located 42 kilometres northeast of Timmins, Ontario. Indicated resources are 6 million tonnes grading 4.88 grams per tonne gold for 945,600 ounces, and inferred resources are 3.7 million tonnes grading 4.22 g/t for 536,800 ounces. The indicated resource, an increase of 170% over the previous estimate, is determined from surface to a maximum depth of 400 metres and along a strike of 950 metres, while the inferred resource is determined from between 400 metres and 1,000 metres. As announced November 12, Gowest has entered into a memorandum of understanding with an existing third-party processor in the Timmins area to process ore from Frankfield East for a fee. Gold concentrate produced thereby will be sold through a separate offtake agreement. President/CEO Greg Romain was interviewed by Kevin Michael Grace November 21 - read it here.

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