Gowest Amalgamated Resources, a Toronto-based gold exploration and development company, has raised $2,579,455 to fund work on its Frankfield Gold project located in the prolific Timmins camp.
In 2010, Gowest doubled the size of the project's mineralized envelope at its flagship Frankfield East gold deposit to 775 metres along strike and 830 metres at depth. The company is now focused on confirming and extending this mineralization by mobilizing more drill rigs in 2011 to infill the existing envelope and to expand it further, particularly at depth.
An updated 43-101 mineral resource estimate for the Frankfield East deposit is set to be released in the first quarter of 2011, followed by a preliminary economic assessment.
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