Westward Gold Inc. (CSE: WG, OTCQB: WGLIF, FSE: IM50) (“Westward” or the “Company”) is pleased to provide an update on the 2024 district-scale gravity survey at its flagship Toiyabe Hills project (“Toiyabe Hills”, or the “Property”), situated along the Cortez Trend in Lander County, Nevada. The Toiyabe Hills gravity survey was designed to accomplish the following goals: 1) infill a 2008 gravity survey and expand coverage to provide enhanced resolution of subsurface geology over the entire 55-square-kilometer Toiyabe Hills land package (see Figure 1 below); 2) determine the extent and relative depth of favourable lower-plate carbonate rocks beneath upper-plate siliciclastic cover rocks; and, 3) determine the structural framework of the district. The survey succeeded in these goals and provided important clues for additional geophysical work and exploration targeting.
Click To Play: Video Summary By CFO & Co-Founder, Andrew Nelson, CPA
The 2024 gravity survey was completed by MWH Geo-Surveys of Reno, NV and included 1,012 unique stations. The new data were acquired on either 200m or 250m square grids, based on legacy coverage in the area. Data verification, merging, modeling, and interpretations were provided by 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. The Company’s Technical Team also conducted an internal peer review to arrive at the structural interpretations displayed in Figures 2 and 3 below – with the benefit of other known datasets (including field observations).
Figure 1: Westward’s Toiyabe Hills Project
Key highlights and interpretations of the gravity survey include:
- Gravity interpretation confirms favourable lower-plate carbonate rocks lie at drillable depths over approximately 70% of the Property (Figure 2)
- This new information is a game-changer in terms of unlocking value of potential lower-plate carbonate-hosted gold targets hidden beneath upper-plate cover rocks, similar to modern-day discoveries in the region. This style of targeting has never been attempted by previous operators and it opens up exciting opportunities for the Company
- Interpretations of the residual gravity (Figure 2) and horizontal gradient of the residual gravity (Figure 3) provide a structural framework for the Toiyabe District
- Interpretations define a complex network of north-, northeast -, and northwest-striking structural corridors at Toiyabe Hills. Most notable is the north-striking Hilltop Corridor (Figures 2 and 3)
- This type of structural framework is representative of stress regimes documented in northern Nevada and is very similar to published gravity data associated with gold deposits on the Cortez and Carlin Trends
- At outcrop scale, 1:5000 Anaconda-style geological mapping defines en-echelon, northeast-striking, dike-filled fault corridors across the Property. These dike-filled corridors correlate with distinct northeast-striking gravity gradients (Figure 3).
- This correlation is significant as dike-filled fault corridors are a key feature associated with many Carlin-type gold deposits
- A new circular / domal feature, approximately 2km in diameter, was identified by the gravity
- The circular area is characterized by strong gravity gradients on its flanks, and gravity gradient destruction within the feature
- Initial interpretations indicate this is as an area of hydrothermal alteration developed in favourable lower-plate carbonate rocks
- An induced polarization (IP) survey completed in 2021 extends a line across this alteration feature. Two areas of very low resistivity are revealed by the IP line, both correlating with the circular feature. These responses are interpreted as strong hydrothermal alteration such as decalcification and/or argillization
- Key learnings from the gravity survey have prompted the Company to consolidate and re-evaluate all legacy geophysical surveys completed on the consolidated Toiyabe Hills Property. The re-evaluation will be undertaken to place all geophysical work into proper perspective in advance of target definition
Figure 2: Toiyabe Hills – Residual Gravity with Structural Interpretations
Figure 3: Toiyabe Hills – Horizontal Gradient Residual Gravity with Structural Interpretations
Westward Strategic Advisor Kelly Cluer, former Senior Director of Global Geosciences at Kinross Gold, commented: "Gravity surveys are foundational data layers for modern exploration of all types. They are particularly effective for northern Nevada Carlin system settings, because a primary source of the local gravity anomaly is the higher-density carbonate strata that host economic gold deposits. I've been involved in many gravity surveys and they consistently impress me; however, the recent survey at Toiyabe Hills is eye-opening in that it reveals the basic underlying structural architecture with crystal-clear horizontal gradient features, important alteration patterns, and the confirmation of drillable depths to lower-plate host strata across the majority of the consolidated land. We'll be using this data for years to come, but the immediate outcome is a focus on a newly-recognized structural nexus in the footwall of the previously-identified Hilltop Corridor that may be the ultimate feeder zone for much of the low-level gold and pathfinder element leakage mapped at surface in soil geochemical surveys. The new data is currently being combined with all historical geophysical, geochemical and geologic data for rigorous information mining and analysis to delineate large-scale, robust targets."
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
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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.