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NewWest Gold Corporation Reports 2006 Operating and Financial Results
NewWest Gold Corporation Reports 2006 Operating and Financial Results.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nLAKEWOOD, CO, March 29 /CNW/ - NewWest Gold Corporation (TSX:NWG)\n("NewWest"), one of the largest holders of precious metals mineral rights\nprojects in Nevada's gold trends, today announced its fourth quarter and\nyear-end results for fiscal 2006.\n\n\nProject Highlights\n\n- Drilling at the Sandman project verified newly discovered zones of\n gold mineralization at Southeast Pediment, expanded mineralization at\n Silica Ridge and North Hill and confirmed newly discovered high-grade\n gold mineralization at Abel Knoll\n- Phase Two of the drilling at Sandman also reported a high-grade\n intercept at North Hill and advanced Abel Knoll to a deposit with\n further upside potential\n- Defined an open-ended zone of shallow, oxidized gold mineralization\n with high grade intercepts from a two-phase drilling program at the\n Long Canyon project\n- Drilling at the Northumberland project carried out by its joint\n venture partner, Newmont USA Limited ("Newmont"), a subsidiary of\n Newmont Mining Corporation (NYSE:NEM), encountered impressive grades\n and thicknesses in step-outs from mineralization in a feeder system\n previously discovered.\n- Completing a NI 43-101 compliant resource at Sandman during 2007\n\n\n"Fiscal 2006 was a breakout year for NewWest, marked by the significant\nprogress we made on our projects with active drilling programs," said Steve\nAlfers, President and Chief Executive Officer. "Results from our Sandman\nproject, which include a new high-grade gold mineralization discovery at Abel\nKnoll and a multi-ounce intercept at Southeast Pediment, are particularly\nencouraging. We are currently in the process of completing a NI 43-101\ncompliant resource at Sandman which is expected to be complete during 2007."\n\n\nNewWest is focused on exploring and developing its robust pipeline of 19\ngold properties on the Nevada gold trends, including the Carlin and Cortez\ntrends. NewWest's goal is to become a producing gold company by advancing its\nprojects along the pipeline and into production.\n\n\nSandman Project Update\n\n\nDuring the fourth quarter of 2006 and the first quarter of 2007, NewWest\nreported results from its 2006 drilling program at the Sandman Project\n(Sandman), an advanced exploration project with drill delineated gold\nmineralization. In total, the drillin...