logo-loader
viewKingwest Resources Ltd

Kingwest Resources increases Menzies – Goongarrie resource to more than 250,000 ounces of gold

The Menzies resource continues to increase from 171,000 ounces gold in Dec 2019 to 208,000 ounces in February 2020 to 233,000 ounces in March 2020 and KWR believes continued work will further increase it.

Kingwest Resources Ltd - Kingwest Resources increases Menzies – Goongarrie mineral resource estimates to more than 250,000 ounces
Pit optimisation and economic studies ongoing for several deposits

Kingwest Resources Ltd (ASX:KWR) has increased the Menzies and Goongarrie resource within the Menzies Gold Project in WA to more than 250,000 ounces of gold.

The Menzies Gold Project near-surface resource has been updated for the Lady Harriet – Bellenger - Warrior System and Selkirk prospects which now totals 233,000 ounces with the Menzies – Goongarrie combined total now sitting at 258,366 ounces.

The new estimates are presented below:

Continuing to increase near-surface resources

Chief executive officer Ed Turner said: “We are very pleased to continue to continue to increase our near surface gold resources whilst at the same time we target deeper higher-grade resources.

“We are investigating profit share arrangements with third parties to potentially mine these shallow resources while we focus on the higher-grade deeper targets.”

Resources at Lady, Harriet and Warrior have increased by 35% since the previous estimate in March 2016.

The Warrior and Bellenger resources are shallow extending from near surface to 120 metres below surface and have the potential to be exploited as open pits.

Resources estimated at Selkirk and Lady Harriet extend below previously mined shallow open pits and may be able to be mined via pit cut-backs.

KWR plans to undertake pit optimisation and economic studies in the coming months to evaluate the potential for open pit mining of these resources.

New estimates based on 2019 drilling

Lady Harriet - Bellenger, Warrior and Selkirk February 2020 Mineral Resource Estimate’s (MRE’s) have been prepared and reported in accordance with the JORC Code (2012).

The new estimates, which were completed by consultant Don Maclean, are based on new drilling by Kingwest Resources in 2019 and re-evaluation and remodelling of the various deposits.

Mineralisation at Lady Harriet-Bellenger is hosted in three main moderately to steeply southwest dipping gold mineralised shear - fracture zones.

At Warrior three gold mineralised lodes have been identified and range from sub vertical in dip to moderately southwest dipping.

The area is variably weathered extending down to between 30 to 45 metres below surface.

 

Quick facts: Kingwest Resources Ltd

Price: 0.14 AUD

ASX:KWR
Market: ASX
Market Cap: $17.07 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Kingwest Resources Ltd named herein, including the promotion by the Company of Kingwest Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Kingwest Resources on the latest at the Menzies Gold Project

Kingwest Resources Ltd (ASX:KWR) chief executive officer Ed Turner speaks to Proactive about the Menzies Gold Project north of the Super Pit in Western Australia. Turner said the company spent the summer holidays collating data at the site ahead of a 12,000-metre drilling program planned for...

on 21/2/20

2 min read