Gowest Gold Ltd.

Gowest Gold Ltd.

February 01, 2012 08:00 ET

Gowest Gold Ltd. Demonstrates Process to Produce 90+ Grams Per Tonne Gold in Concentrate

Ore Separation Process Provides Potential Economic Upside

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2012) - Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA)(OTCBB:GWSAF) reports that a recent metallurgical and engineering study aimed at evaluating options for ore processing at the Frankfield East gold deposit has produced very promising results. According to the study, adjustments may be made to the processing of the Frankfield ore that could sharply reduce costs by reducing the amount of ore being processed without a significant loss of gold, allowing for the potential to improve the economics of developing the Company's North Timmins Gold Project. A summary of the results has recently been published in a paper entitled, "Development of Processing Alternatives for Frankfield East Deposit Using Selective Arsenopyrite-Pyrite Flotation," which was prepared by R. Jackson of SGS Canada, Lakefield, Ontario and G. Wilcox and Darren Koningen of Gowest.

The summary of the sample description, head grade (or calculated head), concentrate grade and percent recoveries are shown in Table 1.

Table 1.
Test Assays, g/t, % Recoveries, %
No. Product Wt % Au S As Py Aspy Au S As Py Aspy
LCT3 Final Arsenopyrite Concentrate 6.4 93.7 16.2 24.3 10.8 52.9 92.7 40.3 90.2 20.2 90.2
Pyrite Concentrate 4.8 4.64 28.6 1.54 52.3 3.4 3.5 54.1 4.3 74.3 4.3
Flotation Tailings 88.8 0.27 0.16 0.11 0.2 0.2 3.8 5.5 5.5 5.5 5.5
Head (calc) 100.0 6.44 2.56 1.72 3.4 3.7 100.0 100.0 100.0 100.0 100.0

Details of the study and its results are available on the Company's website (http://www.gowestgold.com/inv_downloads.html) and at (http://media3.marketwire.com/docs/GGlink.pdf).

Greg Romain President & CEO of Gowest noted, "These results provide further confirmation of the positive impact that our engineering efforts continue to have on improving the already robust economics of producing gold at Frankield (news release, from November 14, 2011). We have the opportunity to reduce the amount of material that we need to process by more than 90% while recovering almost the same amount of gold."

Abstract of Published Paper: Gowest Gold Ltd. is in the process of developing the Frankfield East gold deposit located along the largely undeveloped Pipestone fault northeast of Timmins, Ontario. In addition to resource development and environmental permitting work the company has had an ongoing program of metallurgical and engineering studies aimed at evaluating options for processing the Frankfield East ore.

Mineralization at the Frankfield project contains arsenopyrite and pyrite as the major sulphide minerals. Bulk flotation of all sulphides results in extremely high gold recovery. However, the gold is almost entirely associated with the arsenopyrite fraction of the ore and is refractory in nature requiring preoxidation treatment. Selective flotation was investigated to recover a gold-arsenopyrite concentrate thereby reducing the mass which would be subjected to further gold processing. As part of this work, a pyrite concentrate low in arsenic content was also recovered that would be suitable as a source of sulphur for a smelter (or other pyrometallurgical facility). Production of separate arsenopyrite and pyrite concentrates is frequently examined but rarely adopted due to the distribution of gold between the two products or the inability to achieve adequate separation. Several flowsheet options were investigated in the study. The best results were achieved following a sequential flotation flowsheet. The flowsheet configuration was key to meeting the targets for the two products. In this paper, the various options investigated are reviewed and the results of the final flowsheet are presented.

The overall plan by Gowest was to evaluate all process options to bring the Frankfield East deposit into production. The ability to effectively separate the arsenopyrite and pyrite components in the ore provides Gowest with added opportunities to pursue both short and long term production scenarios.

Qualified Person

This press release has been reviewed by Mr. Darren Koningen, P. Eng., Gowest's Vice President of Technical Services. Mr. Koningen is a Qualified Person under National Instrument 43-101. The preparation of the Preliminary Economic Assessment (PEA) referenced in the November 14, 2011 news release was approved by Peimeng Ling, M.Sc., P. Eng. (President of PL&A), an independent Qualified Person as defined by NI 43-101.

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Frankfield East gold deposit. Gowest is exploring additional gold targets on the Frankfield land package and continuing to evaluate acquisition targets in the vicinity of the Frankfield project area, part of the prolific Timmins, Ontario gold camp.

Forward-looking statements

This news release contains certain "forward looking statements". Such forward-looking statements involve risks and uncertainties. The results or events depicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.


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