LAKEWOOD, CO, Oct. 31 /CNW/ - NewWest Gold Corporation (TSX: NWG)
("NewWest") today announced results of roadcut rock-chip channel sampling at
its Long Canyon project, one of NewWest's principal projects in the Eastern
Great Basin area of Elko County, Nevada. NewWest previously reported the
results of its Phase One drilling program at Long Canyon on September 21,
2006. The Phase One drilling program consisted of 16 reverse-circulation drill
holes totaling 6,610 feet and the construction of approximately 5,100 feet of
access roads. Results from the Phase One drilling program included the best
drill intercept to date at Long Canyon.
NewWest's wholly owned subsidiary, NewWest Gold USA Inc. is the manager
of a joint venture at Long Canyon with AuEx Ventures, Inc (TSX-V: XAU)
("AuEx"). Under the terms of the joint venture, the two companies combined
NewWest's private land position with AuEx's mining claims at Long Canyon.
NewWest's initial interest on the project is 51% and AuEx's interest is 49%.
NewWest has the right to earn its 51% in the project by spending
US$5.0 million within five years. Once NewWest completes its earn-in, NewWest
has the option to increase its ownership to 65% by completing a feasibility
study.
"These roadcut rock-chip sampling results confirm our interpretation of
the structure and stratigraphy at Long Canyon," said Steve Alfers, President
and CEO. "Based on these results, we are currently re-evaluating our previous
Phase Two drill plans and expect to begin drilling in early November."
Systematic rock-chip channel sampling and detailed geologic mapping of
the new roadcut exposures were recently completed, representing a critical
element in the interpretation of the geology and the controls on gold
mineralization. The roadcut rock-chip sampling extended the known zone of
mineralization 1,200 feet to the south including 40 feet with an average grade
of 0.272 ounces of gold per ton (oz Au/ton). All sample intervals are reported
as collected; investigations to determine true widths are ongoing. The results
from the roadcut channel sampling (using a 0.010 oz Au/ton cutoff) are
reported below. A map showing the location of the mineralized roadcut
intervals is available on the Company's website at www.newwestgold.com.
<<
-------------------------------------------------------------------
Sample Location From To Length Grade
(feet) (feet) (feet) (oz Au/ton)
-------------------------------------------------------------------
Road H1 to LC-30 0 40 40 0.272
incl. 20 30 10 0.308
-------------------------------------------------------------------
Road H1 to LC-30 270 300 30 0.020
incl. 270 280 10 0.028
-------------------------------------------------------------------
Road H1 to LC-30 830 850 20 0.038
incl. 840 850 10 0.043
-------------------------------------------------------------------
Road LC-24 to LC-30 1,230 1,300 70 0.017
incl. 1,240 1,250 10 0.024
-------------------------------------------------------------------
Road LC-24 to LC-25 338 400 62 0.042
incl. 350 360 10 0.057
-------------------------------------------------------------------
Road LC-28 to LC-24 246 280 34 0.149
incl. 246 250 4 0.639
-------------------------------------------------------------------
Road LC-28 to LC-24 330 430 100 0.037
incl. 360 370 10 0.071
-------------------------------------------------------------------
Road LC-11 to LC-21 160 200 40 0.014
incl. 180 190 10 0.019
-------------------------------------------------------------------
Road LC-11 to LC-21 290 330 40 0.131
incl. 300 310 10 0.232
-------------------------------------------------------------------
Road LC-11 to LC-21 380 410 30 0.029
incl. 380 390 10 0.057
-------------------------------------------------------------------
Road LC-11 to LC-21 430 450 20 0.021
incl. 430 440 10 0.022
-------------------------------------------------------------------
Road LC-10 to LC-20 10 20 10 0.043
-------------------------------------------------------------------
>>
The Long Canyon mineralization is now documented by both drill holes and
surface intercepts along a strike length of 3,000 feet. The remaining
1,800 feet of the southwestern portion of the defined target remains
undrilled. These results have also established the presence of outcropping
mineralization to the west of the known gold target and in areas without
anomalous gold in soils, representing potential new targets not previously
recognized.
Each sample was taken following standard industry practice and was
collected from approximately 10 feet or less of rock exposure. Each sample
weighed approximately one to two kilograms. Calculated intervals are
continuous sets of samples exceeding 0.010 oz Au/ton. All samples were
prepared and assayed by American Assay Laboratories, Inc. of Sparks, Nevada.
Gold results were determined using standard fire assay techniques on a 30 gram
sample with an atomic absorption finish.
Qualified Person
Michael Gustin, Ph.D., of Mine Development Associates, Reno, Nevada, is
NewWest's qualified person as defined by NI43-101 and has reviewed and
approved the technical data in this news release.
Forward-Looking Statements
Information in this news release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws. Implicit in this information, particularly in
respect of future operating results, economic performance, potential
mineralization and resources, exploration results and further plans and
objectives are forward looking statements that involve various risks and
uncertainties which, although considered reasonable by NewWest at the time of
preparation, may prove to be incorrect. Readers are cautioned that there can
be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements.
About NewWest Gold Corporation
NewWest Gold Corporation is one of the largest holders of precious metals
mineral rights in Nevada's gold trends, spanning approximately 623,000 acres.
NewWest holds 19 exploration projects, including advanced staged projects with
measured and indicated resources. NewWest's goal is to advance its projects
along the pipeline into production.
