WINNIPEG, MANITOBA / ACCESSWIRE / September 18, 2019 / Winston Gold Corp. ('Winston Gold" or the 'Corporation") (CSE:WGC)(OTCQB:WGMCF)
I am honored to have been elected as the Executive Chairman of Winston Gold on July 24, 2019.
I look forward to working with a very experienced Board of Directors and management team to start test-mining and bulk-sampling the gold veins within the Winston Gold leases.
First, thanks to all of our shareholders who have been very patient as we raised the funds that will go towards the underground development of the Parallel and Block 93 gold veins that are associated with the historical Custer mine.
A number of factors have conspired to increase the price of gold from US$1,200 in November 2017, when I joined Winston Gold as a strategic advisor, to today's price of approximately US$1,500. Given the current political upheaval around the world and a low-interest rate environment we do not foresee gold prices reversing course in the short term.
Winston Gold is one of the very few junior gold companies that is fully permitted and in the underground development phase of operations. We expect test-mining to begin in the first quarter of 2020.
We have just received all the financing required to purchase an underground drill, scoop tram and truck. In addition, we have hired a very experienced local underground mining team to complete the access tunnel and begin underground development of the mine.
Winston has the choice of several very attractive custom mills near our site that can process mineralized material once test-mining has started. As a result, we can save time and money by not having to build our own mill. We are now in the final stages of negotiations to lease a mill.
While we do not have a NI-43-101 compliant resource estimate on the property, we are confident with the assay results we have obtained from the numerous historic and current drill holes. Winston's drill results firmly support our geologic model and additional drill hole data are being catalogued into the database.
Looking ahead, the parallel and Block 93 veins are still open for expansion, both along strike and to depth. We have just initiated another five-hole drill program to extend these veins and begin our investigation into the Custer vein.
We are very optimistic about our future as we have now commenced development work to start test-mining and bulk sampling the parallel and block 93 gold veins.
I look forward to sharing our progress with all the shareholders on a quarterly basis.
Thanks again for your support.
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Winston Gold Corp. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Winston Gold
Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired the under-explored and under-exploited Winston Gold project near Helena, Montana.
The CSE has neither approved nor disapproved the information contained herein.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This release includes certain statements that may be deemed 'forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the 'Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects", 'plans", 'anticipates", 'believes", 'intends", 'estimates", 'projects", 'potential" and similar expressions, or that events or conditions 'will", 'would", 'may", 'could" or 'should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
For more information, please visit www.winstongoldmining.com; or contact:
Chief Executive Officer and a director of Winston Gold
Suite 201-919 Notre Dame Avenue
Winnipeg, Manitoba, R3E 0M8
Telephone: (204) 989-2434
SOURCE: Winston Gold Corp.
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