leadf
logo-loader
viewKingwest Resources Ltd

Kingwest Resources receives high-grade results from drilling at Menzies in Western Australia

The company believes results from the 2020 drilling are in line with previous high-grade results and will be valuable additions to the updated resource estimate which is currently underway and due to be completed in February.

Kingwest Resources Ltd -
Mineralised systems as well as the resource locations at Menzies Gold Project in Western Australia

Kingwest Resources Ltd (ASX:KWR) has intersected high-grade gold mineralisation from the recently completed drill holes at Menzies Gold Project in Western Australia.

The company has also initiated scoping studies at Menzies Gold Project, which is due for completion in March 2021.

Assays returned from the final 2020 drill holes at Menzies confirmed further high-grade mineralisation including:

  • 4 metres at 8.85 g/t gold from 115 metres including 1 metre at 31.79 g/t from 117 metres;
  • 8 metres at 4.84 g/t from 56 metres including 1 metre at 29.03 g/t from 63 metres;
  • 1 metre at 24.62 g/t from 133 metres;
  • 2 metres at 10.18 g/t from 68 metres; and
  • 1 metre at 14.31 g/t from 145 metres.

Valuable additions to the updated mineral resource estimate

Kingwest CEO Ed Turner said: “These final results from the 2020 drilling are in line with previous high-grade results and will be valuable additions to the updated mineral resource estimate (MRE’s) which are currently underway and due to be completed in February.

“These MRE’s will be utilised in the scoping study which is also underway and due for completion in March.

“Importantly the drilling to date that will be included in the MRE’s is still mainly only to a maximum depth of 100 metres below the surface.

“Deeper extensions to the mineralisation will be the main focus of 2021 drilling which is already underway.

“I also eagerly await initial assays from the Goongarrie aircore drilling.

“The planned drilling metres was doubled during the program partly in order to better test the targets beneath transported sediments but also based on visually encouraging material intersected in the target areas.”

Menzies Gold Project

In the second half of 2020, 157 RC holes were drilled at Menzies for a total of 15,732 metres and all of them postdate the last JORC Mineral Resource Estimate (MRE).

The assays from these 157 holes are expected to upgrade significant amounts of the MRE category from Inferred to Indicated level and increase the size of the MRE, which currently total 319,900 ounces at 2.1g/t gold.

Drill holes at the project were designed to follow up numerous high-grade results previously reported with several successfully testing for depth extensions to the two main lodes at the Pericles Deposit within the Lady Shenton System.

The high gold mineralisation intersected at these drill holes proves the potential to increase all resources further at depth.

Menzies scoping study

At Menzies, a scoping study has also been started and is due for completion in March 2021.

The scoping study will focus on shallow ore that can be toll treated rather than be milled onsite at Menzies.

There are a number of mills within trucking distance from Menzies enabling Kingwest to avoid unnecessary capital expenditure before the commencement of open-cut mining.

Further drilling in 2021 will focus on proving up deeper extensions to the updated MRE’s and mineralisation that may be mined from underground operations following open-cut mining.

Goongarrie Gold Project drilling

A maiden air-core drilling program has just been completed at the highly prospective Goongarrie Gold Project (GGP) with 381 holes for 10,682 metres drilled at numerous targets across the project area.

Drilling was focused on multiple targets on and around the shallow salt lakes or on clay pans adjacent to the salt lakes.

Turner said: “I also eagerly await initial assays from the Goongarrie aircore drilling.

“The planned drilling metres was doubled during the program partly in order to better test the targets beneath transported sediments but also based on visually encouraging material intersected in the target areas.”

The ancient lake sediments are widespread and have inhibited previous exploration efforts as they act as a mask above possible mineralisation.

The initial program was extended by more than 5,000 metres due to a number of factors and additional drill holes and deeper holes were also planned during the program based on the prospective rocks intersected.

Quick facts: Kingwest Resources Ltd

Price: 0.165 AUD

ASX:KWR
Market: ASX
Market Cap: $25.36 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

Kingwest Resources says early results from Goongarrie drilling has exceeded...

Kingwest Resources Ltd's (ASX:KWR) Ed Turner caught up with Proactive's Andrew Scott soon after receiving the first assays from its inaugural aircore drilling program at the highly prospective Goongarrie gold project in Western Australia. The program consisted of 381 holes for 10,683 metres...

3 weeks, 3 days ago

4 min read