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Kingwest Resources (ASX:KWR) - CEO, Ed Turner - The Market Herald
CEO, Ed Turner
Source: Kingwest Resources
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  • Kingwest Resources (KWR) flags "significant" gold intersections returned from air core drilling at the Goongarrie Gold Project in Western Australia
  • Drilling at Lake Goongarrie comprised 233 drill holes over 5638 metres
  • KWR says initial assays for 12 holes drilled on the first of 18 lines at one target hit gold, with further mineralisation intersected 100 metres to the north
  • Around 75 per cent of assays are still outstanding, with the mineralisation remaining open in all directions
  • Shares have soared 20.6 per cent to 8.8 cents at 1:25 pm AEST

Kingwest Resources (KWR) has flagged "significant" gold intersections returned from air core drilling at the Goongarrie Gold Project in Western Australia.

The program at Lake Goongarrie comprised 233 drill holes for a total of 5638 metres and included a mix of deep angled, shallow vertical and deep vertical holes.

KWR said initial assay results for 12 holes drilled on the first line in the Target A10 area hit gold, with further notable mineralisation intersected 100 metres to the north.

Best results included three metres at 6.5 grams of gold per tonne (g/t) and three metres at 4.1g/t gold, with mineralisation remaining open in all directions.

Kingwest CEO Ed Turner said he was excited by the results, which reportedly validate the Kanowna Belle litho-structural model used to target the area.

"To intersect significant mineralisation at this early stage is very encouraging and a credit to our geological team," he said.

"These results support our targeting for a potential major discovery which we have named the Sir Laurence Prospect."

With just 25 per cent of assays received to date, Mr Turner said Kingwest had merely "scratched the surface of bedrock mineralisation".

"I look forward to receiving the outstanding assays, as well as planning follow-up drilling along strike within Target A10, which includes many other similar litho-structural targets."

Following the announcement, shares soared 20.6 per cent to 8.8 cents at 1:25 pm AEST.

KWR by the numbers
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