NewWest Gold Corporation Extends Mineralization at Silica Ridge
Lakewood, Colorado (ots/PRNewswire)
NewWest Gold Corporation
(TSX:NWG) ("NewWest") today announced that its 2006 Phase Two
drilling program at Silica Ridge extended near-surface
mineralization by 700 feet to the south. The announced results at
Silica Ridge are in conjunction with NewWest's Phase Two drilling
program at its Sandman Project (Sandman), located in Humboldt
County, Nevada. Silica Ridge is one of four deposits and numerous
district anomalies being explored at Sandman.Phase Two drilling at Silica Ridge consisted of 20 drill holes, including 17 reverse-circulation (RC) rotary holes and three core holes with total footage of 3,449 feet. In addition to Silica Ridge, NewWest's Phase Two program at Sandman is ongoing and is designed to include five core holes, four at North Hill, and one at Abel Knoll. The estimated budget for the complete Phase Two program at Sandman is approximately US$1.2 million.
Additional RC drilling at Silica Ridge will await a NI 43-101 compliant resource estimation, which is scheduled for this year.
"We look forward to the results of the upcoming resource estimation," said Steve Alfers, President and Chief Executive Officer. "The fact that some mineralized zones remain open after the Phase Two program indicates that the deposit may continue to expand after the resource is initially quantified."
Four RC holes confirmed the interpretation of the geometry of the mineralized zones. Specifically, SR06-148 indicated that the mineralized zone remains open to the west, providing additional opportunity for expansion of mineralization. Three core holes were drilled that verify the RC rotary drill results.
Phase Two results for Silica Ridge and a map of the drill-hole locations are available on the News page of NewWest's website at www.newwestgold.com. Phase Two results from Southeast Pediment, another deposit at Sandman, were disclosed on December 21, 2006 and are available on the News page of the Company's website.
Silica Ridge Phase Two Drill Program Objectives
The objectives of the Phase Two program at Silica Ridge were threefold: to extend mineralization to the south along the Silica Ridge fault target, to complete additional drilling to define the grade model, and to obtain core samples for grade verification and metallurgical testing.
Selected assays are presented below. Intervals are averages of fire- assay gold values using a cut-off grade of approximately 0.010 ounces of gold per ton (oz Au/ton).
Extend Mineralization to the South
Thirteen shallow RC holes (SR06-133 to SR06-136, SR06-138 to SR06-144, SR06-146, and SR06-147) were drilled along a north-south trend line to extend mineralization along the southern projection of the Silica Ridge Fault. The holes encountered mineralization and defined a shallow, generally continuous zone of lower-grade mineralization that extends the deposit approximately 700 feet to the south where the mineralization remains open. The mineralized zone has a vertical depth of up to 100 feet. Most of the holes are angle holes drilled roughly perpendicular to the dip direction so that reported intercept length approximates actual thickness. Although the extended zone is generally lower grade, angle-hole SR06-144 penetrated 20 feet of 0.199 oz Au/ton within a 55-foot thick zone of 0.085 oz Au/ton.
Further Define the Grade Model through Drilling
Four vertical and angle RC holes, SR06-137, SR06-145, SR06-148 and SR06- 149, were drilled as either infill or step-out holes designed to achieve a 100-foot east-west hole spacing at locations needed to help interpret the geometry of mineralization. Each of the holes encountered mineralization. Hole SR06-148 intersected deeper mineralization, open to the west, that is hosted within a steeply dipping andesite dike.
Core Verification and Metallurgical Sampling
SR06-130C, SR06-131C and SR06-132C are vertical HQ core holes that twin higher-grade RC holes. Each core hole lies within ten feet of its RC twin and generally supports the RC drill information. Hole SR06-131C encountered a 15-foot intercept of 1.208 oz Au/ton. Core halves will be used as samples for metallurgical tests.
Qualified Person
Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is NewWest's qualified person as defined by NI 43-101 and has reviewed and approved the technical data in this news release.
Forward-Looking Statements
This news release includes certain "forward-looking statements" within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking information. Forward-looking information in this news release includes but is not limited to, economic performance, statements regarding potential mineralization and reserve exploration, and future plans and objectives of NewWest Gold Corporation including future exploration and development. Any number of important factors could cause actual results to differ materially from these forward-looking statements, including those set out in the Company's prospectus dated August 18, 2006, as well as future results. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About NewWest
NewWest is one of the largest holders of precious metals mineral rights in Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds 19 exploration projects, including advanced staged projects with measured and indicated resources. NewWest's goal is to advance its projects along the pipeline into production.
Contact:
For further information: NewWest Gold Corporation, Stephen Alfers,
President and Chief Executive Officer, Tel: +1-(303)-425-7042, Fax:
+1-(303)-425-6634, info@newwestgold.com