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Aurwest Identifies New Gold Targets Returning up to 4.04 g/t Gold and 5.27 g/t Silver in Outcrop in Central Newfoundland

Calgary, Alberta--(Newsfile Corp. - August 17, 2022) - Aurwest Resources Corporation (CSE: AWR) ("Aurwest" or the "Company") is pleased to provide an update on its 2022 field program including the discovery of a new mineralized structural trend hosting gold mineralization in outcrop that returned up to 4.04 g/t gold and 5.27g/t silver. Approximately 300 rock samples have been collected to date in total across all projects. The analytical results for 99 samples have been received and are reported in the news release.

Exploration Highlights:

  • A new interpreted NE trending, mineralized basement structure has been located approximately 4.5kms northwest of the Paradise Lake-Twin Ponds mineralized structure.

  • Three new mineralized targets have been identified in outcrop associated with quartz veining and sulphide mineralization.(see Image#1) with gold values of 4.04g/t, 1.38g/t and 1.07g/t.

  • The 4.04g/t sample contains several grains of visible gold and is exposed in outcrop measuring approximately 7m by 38m associated with strong quartz veining in hydrothermally altered felsic volcanic rocks. The extensions of the outcrop are covered by glacial overburden.

  • Six select rock samples from various parts of the mineralized outcrop returned gold values ranging from 0.11g/t to 4.04 g/t gold including additional gold values of 3.88g/t and 1.43g/t gold.

  • The 1.38g/t gold sample is located approximately 8kms north of the 4.04g/t gold sample. Both samples are interpreted to be hosted by the same fault system.

  • Channel sampling of the outcrop that contains the 4.04g/t gold value is planned to determine the continuity, width and weighted average grade of the gold mineralization. Further sampling is planned on the other two gold showings.

Mr. Colin Christensen stated, "Aurwest's large land package necessitates completion of early-stage exploration programs consisting of mapping, prospecting and geochemical surveys to identify mineralized structures related to the Cape Ray-Valentine Lake structural corridor on which to focus future exploration program. This approach resulted in locating an interpreted second mineralized trend within the CRVL corridor and additional showings with significant gold mineralization; increasing the potential of the projects to host Orogenic and intrusive related style gold mineralization."

Exploration Model:
The Paradise Lake-Stony Caldera properties are considered to have potential to host "Orogenic" and "Intrusive Related" styles of gold mineralization comparable to the Valentine Lake, Cape Ray, Moosehead, and Queensway gold deposits located within the Cape-Ray-Valentine Lake ("CRVL") structural zone. The CRVL structural corridor underlying the Aurwest projects hosts linear intrusions of granodiorite/syenite, numerous hydrothermal breccia and quartz vein boulders/subcrop with visible gold up to 144.7 g/t gold with associated chargeability/resistivity signatures. These features are interpreted to represent mineralized "leakage" halos associated with basement structures.

Analytical Procedures:
Sample preparation and analytical work on rock samples is being completed by Bureau Veritas Commodities Canada Inc. ("BV") located in Vancouver B.C. BV has an ISO/IEC 17025 certification. Sample preparation followed BV's code PRP70-1kg. Gold and thirty-six trace elements concentrations will be determined using BV's code AQ202, ICP-ES/MS on a 30g sample. Aurwest's QA/QC protocol includes geotechnical measurements, photographs, detailed geological logging and insertion of Standard Reference Material and blanks in the sample streams.

Qualified Person:
Elmer B. Stewart, MSc. P. Geol., is the Company's independent, nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for Mineral Projects, and has reviewed and approves the scientific and technical information disclosed in this news release

On Behalf Of Aurwest resources Corporation

"Colin Christensen"
President and Chief Executive Officer

For additional information please contact:
Colin Christensen
Telephone: (403) 483-8363
Email: cchristensen@aurwestresources.com
Website: aurwestresources.com

About Aurwest Resources Corporation
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration, and development of gold properties in Canada. The Company currently has three Option Agreements to earn a 100% interest in Paradise Lake and Stony Caldera projects covering a 57,600-hectare (576 sq kms) package of gold exploration licenses within the emerging Central Newfoundland gold district. The Company also currently holds a 100% interest in the 28,294-hectare Stellar/Stars porphyry copper project, located approximately twenty-five kilometers southwest of Houston, British Columbia.

Forward-Looking Information
Statements included in this announcement, including statements concerning our plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements." Forward looking statements may be identified by words including "anticipates," "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward-looking statements. Any forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, except in accordance with the applicable laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.



Location Map for Outcrop

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Image #1 - Outcrop

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Select sample with visible gold from outcrop

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134070