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GoWest hits 5 meters averaging 8 grams per tonne at Texmont exploration target

Published: 09:21 08 Sep 2010 AEST

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Shares in Gowest (TSX-V:GWA) continued their recent form after the company confirmed that it had intersected gold mineralization at one of three high priority exploration targets on its Frankfield Project near Timmins, Ontario.


The junior gold explorer and developer cut 5 meters averaging 8.1 grams per tonne gold at the Texmont target, which is located only 1.5 kilometers to the west of the Frankfield East gold deposit.


“Importantly, the mineralisation identified at this new location appears to exhibit the same characteristics as is seen at the Frankfield East gold deposit. Hole GW10-73 was targeted to intersect a specific region on the west of the Frankfield Project area which showed favourable potential for gold hosting based on the company's newly developed geological model,” GoWest told shareholders today.
   
GoWest is currently undertaking a two pronged approach at Frankfield.  One on side, the company is targeting nearby exploration targets, while on the other site, a second drill rig is focused on upgrading and expanding the current resource at Frankfield East.   At Frankfield East, more recent drill results have extended the strike and depth of the deposit, which still remains open.  Frankfield East currently hosts more than 1 million ounces of gold.

Greg Romain, President & CEO of Gowest, said, "We are excited about the results from the first few drill holes completed as part of our Phase 2 regional drilling program particularly the results from hole GW10-73. The early work to determine the size and orientation of the new target area has encountered anomalous gold values in all of the completed shallow drill holes and confirms that the Texmont target hosts additional "Frankfield East style" gold mineralisation.

Shares in GoWest rose nearly 4% today, and are up from their August low of 18 cents to 28 cents today.

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