- Kingwest Resources (KWR) has reported significant increases to near surface gold resources at the Menzies Gold Project in WA
- Specifically, the mineral resources at Menzies’ Lady Shenton and Stirling deposits have increased by 37 per cent since March this year and by 87 per cent since September last year
- The near surface mineral resource estimate at Menzies now totals 320,000 ounces
- Kingwest is planning more drilling to further increase the size and confidence in the mineral resource estimate
- Company shares closed 13.3 per cent in the green to trade for 17 cents
Kingwest Resources (KWR) has reported significant increases at the Menzies Gold Project in Western Australia.
Specifically, the mineral resources at Menzies’ Lady Shenton and Stirling deposits have increased by 37 per cent since March this year and by 87 per cent since September 2019 when the company acquired the project.
The near surface mineral resource estimate at Menzies now totals 320,000 ounces and if you include the nearby Goongarrie Project, the total mineral resource is 343,900 ounces.
Both projects are located in the Goldfields region of Western Australia. However, Goongarrie is located 100 kilometres north of Kalgoorlie and Menzies is located a slightly further 130 kilometres north of Kalgoorlie.
“We are very pleased to continue to increase our near surface gold resources at Menzies whilst at the same time we explore for higher-grade resources at depth, along strike from and between these near surface deposits,” CEO Ed Turner said.
The resource upgrades can be attributed to successful drilling of high-grade underground exploration targets at First Hit which returned three metres at 158.4g/t gold. Additionally, drilling at Yunndaga intersected the deepest mineralisation to date at Menzies with one metre at 25.4g/t gold from 731.5 metres.
Mineralisation at Lady Shenton is hosted in three main gold mineralised shear zones and subsidiary splays.
The mineral resource estimate is based on geological and assay data from 80 reverse circulation (RC) holes and six diamond core holes completed last year.
RC holes were typically logged, sampled and assayed for gold by either aqua regia or fire assay.
Additionally, 296 historic grade control holes were used to assist with modelling the upper portions of various lodes.
Mineralisation at Stirling is hosted in multiple sub-parallel gold mineralised shear zones that moderately dip towards the southwest.
The mineral resource estimate is based on geological assay data from 31 RC holes and three diamond core tail drill holes that were completed up until June this year.
The RC holes were logged, sampled and assayed for gold by fire assay. The company drilled three diamond holes which were RC pre-collared and then diamond tailed using NQ core to target the Lady Shenton lode at depth and which crossed the Stirling Mineral Resource Estimate.
Kingwest is planning more drilling to further increase the size and confidence in the mineral resource estimate.
Company shares are up 13.3 per cent and trading for 17 cents each at market close.