Gowest News
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR: GOWEST AMALGAMATED RESOURCES LTD.
TSX VENTURE SYMBOL: GWA
JANUARY 28, 2005 - 09:00 ET
Gowest Amalgamated Resources Ltd.: Drilling Results at
Detour Lake Ontario
TIMMINS, ONTARIO--(CCNMatthews - Jan. 28, 2005) - Gowest Amalgamated
Resources Ltd. (TSX VENTURE:GWA)
In the matter of recent deep drilling on the Gowest property at Detour
Lake, Trade Winds Ventures are making the following announcement:
HIGH-GRADE GOLD MINERALIZATION DISCOVERED ON TRADE WINDS VENTURES GOWEST
PROJECT NEAR DETOUR LAKE
Trade Winds Ventures Inc. (TSX VENTURE:TWD) announces that it has
discovered the existence of high grade gold mineralization on the Gowest
Claims located immediately west of and adjacent to Trade Winds' Block A
Project at Detour Lake, Ontario. In late November 2004, Trade Winds had
completed a 2,390.19 metre NQ drill program on the Gowest Claims, under
option from Gowest Amalgamated Resources Ltd. (TSX VENTURE:GWA), with
all assay results now received and reviewed. Additional total metallic
assaying is currently being undertaken due to the extent of visible gold
observed in numerous locations.
Trade Wind's drilling program successfully located the M Zone and
proximal structures at depth, intercepting extensive potassic
alteration, quartz veining and mineral concentrations with visible gold
typical to the M Zone area on Block A, under option from Pelangio Mines
Inc. (TSX VENTURE:PLG). This discovery of high-grade gold concentrations
on the Gowest claims adds an additional 900 metre strike length of
potentially economic gold mineralization proximal to the M Zone
structure for a total of over 3.6 kilometres. The M Zone structure still
remains open to the west and to depth.
TWDDH-033 was collared on Section 13150E at 21410N with the purpose of
testing for the M Zone structure at depth, stepping out 900 metres west
of any previous diamond drilling on the M Zone. Directional wedges were
using in the hole to control both azimuth and dip, and identified by a
letter appendix on the drill hole number for each wedge.
TWDDH-033A was initiated by wedging at 460 metres in hole TWDDH-033,
ending at 1,252.30 metres after crossing the M Zone komatiitic basalt
from 1,080 to 1,123 metres. Visible gold was observed in six separate
locations, two of which are contained within the M Zone komatiites, and
the remaining four in hanging wall quartz zones. The first quartz zone
with observed visible gold returned 11.24 g/tonne gold over 2.0 metres
from 778 to 780 metres, and is interpreted to represent the up-dip
extension of the lower M Gold Zone (not yet drill tested on this
section). The estimated true width of mineralization is between 50-55 %
of the composites listed in the table below.
/T/
TWDDH-033A
COMPOSITE FROM TO COMPOSITE COMMENTS
oz/ton feet (m) (m) g/tonne (m)
Felsic dyke in
pillowed mafic
671 672 3.47 1.0 basalt w/ po/py
3 Specks - Visible
Gold in quartz in
quartz vein
0.33 6.56 778 780 11.24 2.0 with chalcopyrite
15 Specks - Visible
Gold in mafic
pillowed basalt
0.27 3.28 923 924 9.34 1.0 w/ quartz veins
3 Specks - Visible
Gold in mafic
1002 1003 0.042 1.0 pillowed basalt
15 Specks - Visible
Gold in mafic
pillowed basalt
1008 1008.89 1.15 0.89 w/ quartz veins
1 Speck - Visible
Gold - M Zone
hangingwall
1084 1085 0.164 1.0 contact
1 Speck - Visible
Gold - M Zone
1112 1113 0.972 1.0 central area
Felsic dyke in
pillowed mafic
778 780 3.47 1.0 basalt w/ po/py
/T/
TWDDH-033B started by wedging up at the 590 metre interval of
TWDDH-033A, testing approximately 40 metres up-dip of TWDDH-033A in the
areas of observed gold mineralization. Visible gold was observed in four
separate locations, all occurrences above the M Zone. Of most
significance an interval of extensive quartz veining in mafic pillowed
basalts from 782 to 787 metres returned 4.88 g/tonne gold over 5.00
metres followed by 37.40 g/tonne gold over 1.0 metres from the 835 to
836 metre interval. Visible gold was noted in both zones.
/T/
TWDDH-033B
COMPOSITE FROM TO COMPOSITE COMMENTS
oz/ton feet (m) (m) g/tonne (m)
1 Speck - Visible
Gold in mafic
pillowed basalt
0.14 16.4 782 787 4.88 5.0 w/ quartz vein
(including within
0.367 3.28 785 756 12.95 1.0 the above interval)
30 Specks - Visible
Gold in mafic
pillowed basalt w/
1.09 3.28 835 836 37.40 1.0 quartz veins
2 Specks - Visible
Gold in mafic
846 847 0.04 1.0 pillowed basalt
15 Specks - Visible
Gold in mafic
pillowed basalt
848 849 0.093 1.0 w/ quartz veins
Pillowed mafic
0.42 3.28 893 894 17.75 1.0 basalt w/ po/py
Sericitic
987.28 987.89 4.2 0.61 felsic dyke
Pillowed mafic
1029 1030 4.34 1.0 basalt w/ po/py
/T/
Down hole survey data of TWDDH-033A and TWDDH-033B are as follows:
/T/
TWDDH-033A DEPTH AZIMUTH DIP
(m)
COLLAR 190 -70
500 161 -73
750 183 -71
1000 180 -67
1252.3 189 -60 End of Hole
TWDDH-033A DEPTH AZIMUTH DIP
(m)
600 160 -71
750 173 -69
1000 184 -65
1189.3 188 -61 End of Hole
/T/
TWDDH-035 was collared on Section 13150E at 21450N, dipping -67 degrees
with the purpose of testing the M Zone area at depth. Due to excessive
changes in azimuth the hole ended at 540 metres when a directional wedge
was utilized starting TWDDH-035A. A second wedge was installed at 594
metres which started TWDDH-035B. TWDDH-035B ended at 1,180.3 metres
after crossing the M Zone with one occurrence of visible gold noted in
the hole from 930 to 931 metres. Numerous 1 to 2 gram gold values occur
within the M Zone area. The highest grade values obtained occur from 824
to 825 metres which returned 9.24 g/tonne gold over 1.0 metres.
Trade Winds is currently undertaking an extensive winter drill program,
testing the extent of near surface gold mineralization on the Detour
Lake Block A project. Upon completion of the Block A winter program,
further drill testing of the Gowest ground will conducted. Planning is
underway, with current proposals including testing the M Zone area near
TWDDH-033A/B as well as testing the M Zone over 500 metres to the west
where mapping indicates a major southern roll in both lithologies and
older structures.
Mr. Lorne Warner, P. Geo. Is the qualified person for Trade Winds'
Detour Lake projects. Previous fire assay results have been provided by
ALS Chemex.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
Elsewhere at Wawa, Ontario, Gowest and Newstrike, our joint venture
partner, have commissioned an airborne geophysical survey as a first
stage in the exploration of our gold bearing property. Results should be
available by late winter.
At the Frankfield gold deposit in Timmins, Ontario, planning is underway
to continue with the deep exploration drilling on this holding. New
Texmont Explorations is the joint venture partner.
Ronald J. Bradshaw, P.Eng. President
Gowest Amalgamated Resources Ltd
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Gowest Amalgamated Resources Ltd.
Donald Rankin
(416) 628-6556
www.gowestamalgamated.com
or
Trade Winds Ventures Inc.
Ian D. Lambert
President & CEO
(604) 742-2522
or
Trade Winds Ventures Inc.
Matthew Johansen
Investor Relations
(604) 742-2527
info@tradewindsventures.com
www.tradewindsventures.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
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