Gowest Amalgamated Resources Ltd.

Gowest Amalgamated Resources Ltd.
Newstrike Resources Ltd.

Newstrike Resources Ltd.

April 23, 2007 12:55 ET

Gowest and Newstrike Acquire Uranium Prospect

TORONTO, ONTARIO--(CCNMatthews - April 23, 2007) - Jointly, Newstrike (TSX VENTURE:NR) and Gowest (TSX VENTURE:GWA) have acquired by staking two blocks of claims north of Sudbury, Ontario which cover anomalous radioactivity perhaps associated with uranium mineralization. The companies each hold a 50% interest in the properties.

The anomalies were selected from Geological Survey of Canada (GSC) plans which depict a fixed wing airborne survey flown in 1976 for the GSC. Maps and profiles of this reconnaissance survey, published in 1979(i), were reviewed and specific radioactive anomalies were selected for staking. One block of 32 claims in Athlone and Muldrew Townships and a second block of 60 claims in Howey and Marconi Townships cover the chosen anomalies.

No previous work has been recorded on the Athlone and Muldrew Townships block which according to regional Ontario geological plan, M2361, is underlain primarily by granitic terrane. The larger block in adjoining Howey and Marconi Townships seems also to be underlain mainly by granitic rocks with some greenstone inclusions. There has been no recorded work in the immediate area. However, the adjoining area to the southeast including several Townships was held under a license of occupation by a syndicate of major mining companies in the late seventies. Inco, the syndicate operator, conducted ground and airborne geophysical surveys and drilled some deep holes, greater than 1500 metres to test the basement sediments for uranium mineralization. Their limited program failed to detect significant values. Prior to this work Johns Mansville explored the eastern portion of Marconi Township where favourable sedimentary rocks exist. Apparently, drill targets were not detected.

Several kilometres southwest of the property map M2361 indicates the presence of uranium mineralization associated with the Mississagi Formation as at the former mines of Elliot Lake.

Gowest and Newstrike are presently considering an exploration program for the holdings, which is likely to involve a helicopter - borne radiometric survey as an initial stage.

(i) Gogama, Ontario Maps 36641G

GSC 1979

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Contact Information

  • Gowest Amalgamated Resources Ltd.
    Ronald J. Bradshaw, P.Eng.
    (519) 538-5858
    Newstrike Resources Ltd.
    Donald T. Rankin
    (416) 628-6556