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Kingwest Resources defines targets around historical lodes at Menzies Gold Project, shares higher

The exploration targets for the company’s 2020 drilling programs at Menzies support the objective of defining extensions to the historic high-grade underground mineralisation and proving up new mineral resources.

Kingwest Resources Ltd - Kingwest Resources defines exploration targets around historic lodes at the Menzies Gold Project
Menzies historically produced 787,000 ounces at 18.9 g/t from underground (1895-1943) and open cut (1995-1999) mining

Kingwest Resources Ltd (ASX:KWR) is up more than 16% to 14 cents on news that it has developed exploration targets that are being drilled for the main mineralised systems within its Menzies Gold Project in Western Australia.

The initial reverse circulation (RC) and diamond core (DD) drilling program will cover around 8,300 metres and is testing the targets within the Yunndaga, Lady Shenton and First Hit systems.

The initial program includes:

  • 3,300 metres at Yunndaga (Princess May Lode),
  • 3,700 metres at Lady Shenton Lode, and
  • 1,300 metres at First Hit Lodes.

Drilling being completed in this campaign includes testing of some near-surface mineralisation but mainly focuses upon testing deeper exploration targets which comprise the predicted continuation of high-grade gold mineralisation below historical underground workings.

The targets are expected to support the company’s 2020 drilling programs which have the objective of defining extensions to the historic workings and proving up new mineral resources.

Yunndaga (Princess May Lode)

The Princess May extension exploration target is 194,000-388,800 tonnes at a grade of 10 g/t-16 g/t.

Yunndaga open-cut mine was mined from 1995 to 1998, and previous, historical mining operations at Yunndaga, from 1896-1926 and 1934-1936, exploited the Princess May Lode where mining reached a vertical depth of 625 metres and resulted in the production of 526,000 tonnes at 16 g/t for 270,580 ounces.

The company plans to test the target with three holes initially.

Lady Shenton Lode

The Lady Shenton extension exploration target is 121,500-182,250 tonnes at a grade of 16 g/t-32 g/t.

Between 1996 to 1999 the Lady Shenton open-cut mine was mined and historical production from the deposit (1895-1939) was 196,392 tonnes at 32.3 g/t for 204,756 ounces and mining reached a vertical depth of 218 metres.

As was the case at Princess May, mining ceased because of operational difficulties and the presence of ore at the lowest level of the workings suggests that the gold mineralisation is present below the workings and extends deeper.

This potential is confirmed by Kingwest’s drilling results, with hole KWD027 intersecting 1.5 metres at 14.3 g/t from 292.1 metres, including 0.3 metres at 71.3 g/t, which is more than 50 metres deeper than the deepest level of the Lady Shenton Gold Mine – making the downward continuation of the lode an important exploration target.

Planned drilling locations for the current program

First Hit extension

The First Hit extension exploration target is 64,800-97,200 tonnes at a grade of 16 g/t-32g/t.

This deposit was mined from 1996 to 1997 as an open-cut mine but historically the First Hit lodes were mined from underground workings, with production from 1929 to 1948 of 71,269 tonnes at 23.4 g/t for 53,748 ounces.

These lodes sit within the First Hit System which has historical underground production from all of its lodes (including Crusoe, First Hit and Wedderburn) of 165,000 tonnes at 32 g/t for 171,000 ounces.

Prior to excavation of the open-cut mine, the presence of a large tailings dump and other features restricted access and resulted in there being no drilling to test the downward continuation of the First Hit lodes.

The tailings have since been moved and access is possible for underground targeting.

Exploration strategy

The initial drilling program is projected to finish in late May 2020 but, depending upon results, may be extended.

Since mining closure of the site 20 years ago there has been very little modern exploration over the area and while the potential quantity and grade of the exploration targets is conceptual in nature, Kingwest believes there is extensive exploration capacity for high-grade extensions of the historical workings.

Quick facts: Kingwest Resources Ltd

Price: 0.14 AUD

Market: ASX
Market Cap: $17.07 m

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