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Kingwest Resources (ASX:KWR) - CEO, Ed Turner - The Market Herald
CEO, Ed Turner
Source: Bulls N’Bears
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  • Kingwest Resources (KWR) has received the final assay results from extensional drilling at the WA-based Menzies Gold Project
  • Best new results include 12 metres at 3.7 g/t gold from 102 metres at the Lady Shenton system, two metres at 17.3 g/t gold from 125 metres at Pericles and one metre at 19.1 g/t gold from 103 metres at Stirling
  • Deeper holes at the Stirling prospect showed continuations of mineralisation more than 70 metres below current resource blocks
  • KWR is now planning a further 4000 metres of deeper, extensional drilling, which is expected to start later this month
  • Shares are trading 5 per cent higher at 10.5 cents each

Kingwest Resources (KWR) has received the final assay results from extensional drilling at the WA-based Menzies Gold Project.

Menzies is located north of Kalgoorlie and contains a series of gold deposits which have been historically mined, recording up to 22.5 grams per tonne (g/t) gold between 1895 and 1943.

Best new results include 12 metres at 3.7 g/t gold from 102 metres at the Lady Shenton system, two metres at 17.3 g/t gold from 125 metres at Pericles and one metre at 19.1 g/t gold from 103 metres at Stirling.

KWR said mineralisation at Stirling has now been extended by more than 70 metres below current resource blocks.

With all the results at hand, the company said it will move forward with planning a further 4000 metres of deeper, extensional drilling which is expected to start later this month.

The further drilling is designed to continue growth of the mineral resources which as of March, totalled 446,200 ounces at 1.26 grams per tonne gold.

In addition, CEO Ed Turner said follow-up reverse circulation drilling at Goongarrie will start up soon to further test the mineralisation intersected during first pass aircore drilling.

"We also wait on the availability of a track mounted aircore rig to test the high priority targets that lie under the northern part of Lake Goongarrie which have never been drilled," he explained.

Shares are trading 5 per cent higher at 10.5 cents each at 1:40 pm AEST.

KWR by the numbers
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