(TheNewswire)
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Vancouver, British Columbia, October 17, 2024 – TheNewswire – Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to announce that is has recently completed a gravity survey at its 100%-owned Coyote / Rossi Property (“Coyote”, or the “Property”), comprised of 111 unpatented mining claims situated along the northern Carlin Trend in Elko County, Nevada.
The Carlin Trend is a ~90-kilometre-long gold belt that has been continuously and successfully explored and mined over the last 60 years, and Westward acquired Coyote in late 2022 as a complementary asset to its district-scale flagship Toiyabe Hills Project along the Cortez Trend. The Coyote acquisition was designed to capitalize on the broader theme in the district whereby significant discoveries continue to be made northward along strike from the original Carlin Mine (see Figure 1 below). Westward’s team of technical experts are intimately familiar with the area and have been involved in several noteworthy discoveries, including Leeville, Ren, Four Corners, Pete Bajo, Crow, Little Boulder Basin, and Hardie Footwall Extension. Today, the district is dominated by Nevada Gold Mines (Barrick / Newmont Joint Venture), however Kinross Gold also recently laid claim to a large land position immediately north of Coyote along the hypothesized extension of the trend.
Figure 1: Westward’s Coyote Property Along the Carlin Trend
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Note: Readers are cautioned that information regarding neighbouring properties is provided for context only, and that mineralization on any neighbouring properties is not necessarily indicative of mineralization or potential mineralization on Westward’s properties.
The Coyote gravity survey was completed by MWH Geo-Surveys of Reno, NV, following their successful geophysical campaign at the Company’s larger Toiyabe Hills Project (refer to Westward’s press release dated September 26, 2024, for additional information). It included 216 unique stations distributed across a 200-metre square grid, a typical sampling density used for targeting of Carlin-type gold deposits along major Nevada trends (see Figure 2 below). The survey was designed to accomplish the following primary goals: 1) determine the extent and relative depth of favourable lower-plate carbonate rocks beneath upper-plate siliciclastic cover rocks, 2) outline the structural framework of the Property – particularly looking for the extensions of gold-controlling faults that are well-documented to the south – and 3) map subsurface density variations which can indicate zones of alteration. The data has now been successfully collected and it will be processed and interpreted in the coming weeks, with expert input from Mr. J. L. Wright of Wright Geophysics in Spring Creek, NV. Mr. Wright is a well-respected geophysicist with over 40 years of expertise within the Carlin and Cortez Districts of northern Nevada.
Figure 2: 2024 Gravity Survey at Westward’s Coyote Property
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Mr. Robert Edie, Westward’s Vice President of Exploration, noted: “The Carlin Trend is famous for its geological uniqueness and its ever-expanding gold endowment; to this day the trend remains open in all directions with no signs of slowing down. Over the last 30 years, gravity has proven to be a fundamental exploration technique for resolving geology beneath upper-plate cover rocks, and its use has led to significant discovery success in the district. Westward is extremely fortunate to have secured a foothold in the backyard of two of the largest gold producers, with an opportunity to explore and potentially expand a world-class gold trend.”
Appointment of Strategic Advisor
Westward is also very pleased to welcome Mr. Matthew Lennox-King to the Company as its newest Strategic Advisor. Mr. Lennox-King brings a wealth of experience to Westward, both as a corporate executive and a geologist – with a particular focus on gold exploration in Nevada. Over the course of his 25-year career, Mr. Lennox-King has developed an expertise in mineral exploration, finance, corporate governance, and mergers and acquisitions; skillsets that will be highly valuable to the Company as it looks towards its next stage of growth.
Mr. Lennox-King, incoming Strategic Advisor, noted: “I’ve been following the progress of Westward with interest over the last couple of years, and it’s been refreshing to see a team take on Nevada with the right combination of energetic leadership, seasoned technical veterans, and a systematic and scientific approach to the discovery process. These storied gold districts continue to deliver exciting opportunities and I’m looking forward to lending my knowledge to the Company moving forward.”
Most recently, Mr. Lennox-King was a co-founder of Contact Gold Corp. (“Contact”) and served as President, CEO and Director from its inception in 2017 until its acquisition in April of 2024. Over the course of his tenure at Contact – a gold exploration company developing properties along the southern Carlin Trend in Nevada – Mr. Lennox-King was instrumental in negotiating and securing a favourable joint-venture partnership with Centerra Gold, and ultimately executing a corporate sale to Orla Mining.
Prior to Contact, Mr. Lennox-King served as President and CEO of Pilot Gold Inc. (“Pilot”), a TSX-listed exploration and development company with assets in the Western U.S. and Turkey. He also held the role of Senior Geologist at Pilot’s predecessor company Fronteer Gold Inc., where he led multi-million-dollar exploration programs resulting in a significant expansion of their properties’ gold endowments. Mr. Lennox-King holds a B.Sc. in Geological Sciences from the University of British Columbia and was honoured as one of Business in Vancouver’s “Top 40 under 40” in 2014.
Qualified Person
The technical information contained in this news release was reviewed and approved by Robert Edie, Vice President Exploration of the Company, who is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Edie is a Certified Professional Geologist (CPG) through the American Institute of Professional Geologists (AIPG).
About Westward Gold
Westward Gold is a mineral exploration company focused on developing the Toiyabe Hills Project located in the Cortez Hills area of Lander County, Nevada, and the Coyote and Rossi Projects located along the Carlin Trend in Elko County, Nevada. From time to time, the Company may also evaluate the acquisition of other mineral exploration assets and opportunities.
For further information contact:
Andrew Nelson
Chief Financial Officer
Westward Gold Inc.
+1 (604) 828-7027
andrew@westwardgold.com
www.westwardgold.com
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
This news release contains or incorporates by reference “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes, or developments that the Company expects to occur are, or may be deemed, to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "expect", "believe", "anticipate", "intend", "estimate”, “potential”, “on track”, “forecast", "budget", “target”, “outlook”, “continue”, “plan” or variations of such words and phrases and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved or the negative connotation of such terms.
Such statements include, but may not be limited to, information as to strategy, plans or future financial or operating performance, such as the Company’s expansion plans, project timelines, expected drilling targets, and other statements that express management’s expectations or estimates of future plans and performance.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Additional risk factors and details with respect to risk factors that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this news release are set out in the Company’s latest management discussion and analysis under “Risks and Uncertainties”, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations, and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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