Aurwest Resources Corporation (CSE:AWR) (OTCMKTS:AURWF) Stock In Focus After Recent Developments
Shares of Aurwest Resources Corporation (CSE:AWR) (OTCMKTS:AURWF) have been moving within a narrow range.
Market Stats
On Wednesday, AURWF stock ended flat at $0.0832 with more than 15K shares, compared to its average volume of 253 shares. The stock has moved within a range of $0.0832 – 0.0832 after opening trading at $0.832.
Maiden Drilling Program of Aurwest Begins at Paradise Lake Gold Project (Newfoundland)
Aurwest Resources Corporation (CSE:AWR) (OTCMKTS:AURWF) has announced on January 26, 2022 that diamond drilling has begun on a planned Phase 1 – 3,000-meter drill program at its flagship Paradise Lake gold project in Central Newfoundland.
The first drill hole is situated near Twin Pond, approximately 21 km south of Grand Falls. It is targeting a high priority gold anomaly from the recently completed IP survey. The initial drilling program will explore the Twin Ponds-Paradise Lake area where a 5kms long northeast trending positive chargeability anomaly was found in 2021, along with numerous late stage intrusives and a magnetic low along an interpreted basement structure.
The surface exploration also located several areas of quartz vein/breccias in outcrop/subcrop that returned up to 14.2 g/t gold in this northeast trending area. There are many pyrite-arsenopyrite bearing Botwood sediments, which are interpreted to be the surface expression of late-stage re-activated faults along which hydrothermal fluids carrying gold and silica emanated upwards from the underlying Lawrenceton volcanics.
President & CEO of Aurwest, Mr. Colin Christensen, is thrilled that their maiden drill program has finally commenced. The combination of post-Botwood intrusive activity, positive chargeability signatures and silicified areas with gold-pyrite mineralization, represent priority drillings targets to test the down dip extensions of interpreted leakage halos originating from the Lawrenceton volcanics below the Botwood sediments.
