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Additional Information
Market: TSX-V
Sector: Gold Mining
EPIC: GWA
Latest Price: 0.10  (0,00%)
52-week High: 0.38
52-week Low: 0.10
Market Cap: 12.36M
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Gowest Gold
www.gowestgold.com

Gowest is a Canadian gold exploration and development company focused on the delineation, development and mining of its 100% owned Frankfield East gold deposit, in the prolific Timmins, Ontario gold camp, while continuing to evaluate additional exploration and acquisition targets in the vicinity.  The 2010 drilling confirms continuity of mineralization to at least 700m along strike and 700m vertical depth (deposit remains open) more than doubling the size of the original mineralized envelope which contained an inferred mineral resource of 510,000 oz (2.4 million tonnes @ 6.5g/t gold). This drilling demonstrates a mineral potential at Frankfield East in excess of 1 million ounces (4.5-5.5 million tonnes @ 6.5-7.0 g/t Au).

Full Gowest Gold profile here
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Gowest Gold to acquire 60% of Pipestone property

26th Apr 2011, 1:32 pm by Deborah Sterescu
Gowest Gold to acquire 60% of Pipestone property

Gowest Gold (CVE:GWA)(OTCBB:GWSAF) said Tuesday it has signed an option agreement to acquire an additional 3,400 hectares in Ontario's Porcupine mining district, known as the Pipestone property, from Transition Metals.

The deal will mean Gowest will have exploration property interests stretching a total of 6,000 hectares along the undeveloped Pipestone Fault in the Timmins camp.

The majority of the Pipestone property acquired is located on the Fault, and along strike from the company's Frankfield gold project. Gowest believes that the Pipestone Fault is a splay off the Porcupine-Destor Fault, which hosts in excess of 70 million ounces of historic gold production.

"The new acquisition now cements our position as a leading player in the area, the value of which will only be enhanced and accelerated by ongoing success at Frankfield East," said president and CEO Greg Romain.

"The Frankfield East gold deposit has the potential to be one of the most significant new deposits in a long time in a previously unmined area of Timmins."

Under the terms of the agreement with Transition Metals, Gowest can earn an initial 60% interest in the Pipestone property  by spending $1.0 million over three years. The company must also pay $100,000 in cash and issue 400,000 shares to Transition Metals. Gowest can then choose to earn an additional 15% by paying further consideration.

Gowest said it is planning to release an updated resource estimate of the Frankfield East deposit in the coming weeks.

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