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NewWest Gold Corporation Reports Positive Results of Roadcut Rock-chip Samples at Long Canyon
NewWest Gold Corporation Reports Positive Results of Roadcut Rock-chip Samples at Long Canyon.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\n\nLAKEWOOD, CO, Oct. 31 /CNW/ - NewWest Gold Corporation (TSX: NWG)\n(\"NewWest\") today announced results of roadcut rock-chip channel sampling at\nits Long Canyon project, one of NewWest's principal projects in the Eastern\nGreat Basin area of Elko County, Nevada. NewWest previously reported the\nresults of its Phase One drilling program at Long Canyon on September 21,\n2006. The Phase One drilling program consisted of 16 reverse-circulation drill\nholes totaling 6,610 feet and the construction of approximately 5,100 feet of\naccess roads. Results from the Phase One drilling program included the best\ndrill intercept to date at Long Canyon.\nNewWest's wholly owned subsidiary, NewWest Gold USA Inc. is the manager\nof a joint venture at Long Canyon with AuEx Ventures, Inc (TSX-V: XAU)\n(\"AuEx\"). Under the terms of the joint venture, the two companies combined\nNewWest's private land position with AuEx's mining claims at Long Canyon.\nNewWest's initial interest on the project is 51% and AuEx's interest is 49%.\nNewWest has the right to earn its 51% in the project by spending\nUS$5.0 million within five years. Once NewWest completes its earn-in, NewWest\nhas the option to increase its ownership to 65% by completing a feasibility\nstudy.\n\"These roadcut rock-chip sampling results confirm our interpretation of\nthe structure and stratigraphy at Long Canyon,\" said Steve Alfers, President\nand CEO. \"Based on these results, we are currently re-evaluating our previous\nPhase Two drill plans and expect to begin drilling in early November.\"\nSystematic rock-chip channel sampling and detailed geologic mapping of\nthe new roadcut exposures were recently completed, representing a critical\nelement in the interpretation of the geology and the controls on gold\nmineralization. The roadcut rock-chip sampling extended the known zone of\nmineralization 1,200 feet to the south including 40 feet with an average grade\nof 0.272 ounces of gold per ton (oz Au/ton). All sample intervals are reported\nas collected; investigations to determine true widths are ongoing. The results\nfrom the roadcut channel sampling (using a 0.010 oz Au/ton cutoff) are\nreported below. A map showing the location of the mineralized roadcut\nintervals is available on the Company's website at www.newwestgold.com.\n\n>\n\nThe Long Canyon mineralization is now doc...