Gowest Gold received advanced exploration permits from the province to mine a bulk sample from its Bradshaw gold deposit, northeast of Timmins.
"After a lengthy and thorough review, we have received the critical permits that will enable us to take the next major step towards the development of the next new gold mine in the Timmins Gold Camp,” said Gowest president-CEO Greg Romain in a June 16 news release. “
The company said it’s making tracks on multiple fronts.
On the technical end, detailed engineering work is underway ahead of the site preparation, ramp construction and the underground development work required to extract the bulk sample.
They’re also out to raise capital to pay for the extraction and processing of the sample, while also talking with contractors to help in the development of a mine.
The company wants to reduce their start-up cash requirements by deferring a significant portion of its mining costs until revenue is available from the sale of gold produced from the bulk sample.
Bradshaw is part of the company’s Frankfield property, 32 kilometres northeast of the city.
It contains a 43-101 indicated resource estimated at 2.1 million tonnes grading 6.19 grams per tonne (g/t) of gold and an inferred resource of 3.6 million t grading 6.47 g/t.
“Our strategy is to optimize project efficiencies, accelerate timelines and lower both up-front and overall project costs,” added Romain. “The Bradshaw, which forms part of the company's large land package and includes numerous additional mineralized targets, is a high-grade gold deposit with significant potential for growth along strike and at depth."
