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Kingwest Resources (ASX:KWR) - CEO, Ed Turner - The Market Herald
CEO, Ed Turner
Source: 121 Mining Investment Events
  • Kingwest Resources (KWR) has intersected high-grade gold from drilling across its Menzies Gold Project in WA
  • A total of eight reverse circulation (RC) holes were drilled at the Stirling prospect which lies west of the Lady Shenton system
  • Up to 17.44g/t gold was intersected and a resource definition drilling program is being planned
  • 19 RC holes were drilled at the Central Zone to test structural targets, where gold grading up to 10.88g/t was intersected
  • Further, significant mineralisation has extended more than 100 metres below the Princess May Shoot at Yunndaga Deeps
  • Company shares have dropped 6.45 per cent and are trading for 14.5 cents each

Kingwest Resources (KWR) has announced additional results from recently completed drilling at the Menzies Gold Project in Western Australia.

Diamond core and reverse circulation (RC) drilling intersected new high-grade lodes within the Central Zone as well as high-grade intercepts that extend known mineralisation at the Stirling prospect and at Yunndaga Deeps.

Follow up drilling at the Stirling prospect, which is part of the Lady Shenton system, also provided high-grade intersections and inaugural drilling within the Central Zone returned a number of significant intersections.

"The fact that we have intercepted significant mineralisation in the majority of the holes we have drilled makes us increasingly confident the MGP can again be a long term high-grade gold producing province," CEO Ed Turner said.

Lady Shenton

Kingston completed eight RC holes, for 636 metres, at the Stirling prospect, which lies west of Lady Shenton.

These holes were aimed at following up previous high-grades including five metres at 13.1g/t gold from 32 metres and 2.9 metres at 5.8g/t gold from 52 metres.

Best results include three metres at 6.05g/t gold from 61 metres including one metre at 10.72g/t gold from 61 metres and two metres at 11.27g/t gold from 50 metres including one metre at 17.44g/t gold from 51 metres.

Kingwest will now plan resource definition drilling at the Stirling prospect.

Central Zone

A total of 19 RC holes, for 3210 metres, were drilled at the Central Zone. This drilling was designed to test structural targets that align with a number of historical workings.

Highlights include one metre at 7.13g/t gold from 16 metres, three metres at 4.19g/t gold from 42 metres including one metre at 7.37g/t gold from 43 metres, six metres at 3.41g/t gold from 142 metres including one metre at 10.88g/t gold from 142 metres.

These results prove the Central Zone is prospective for a number of mineralised structures that need to be further explored.

Yunndaga

Two diamond core directional holes were drilled as wedges from a parent hole for a combined 828.8 metres.

These holes targeted deeper extensions to the Princess May shoot as hole KWD014 did which returned 1.03 metres at 25.40g/t gold from 733.47 metres.

Hole KWD014W2 intersected 0.68 metres at 5.1g/t gold from 735.71 metres and 0.80 metres at 3.61g/t gold from 752.70 metres.

KWD014W3 intersected 1.10 metres at 5.74g/t gold from 759.22 metres and 1.02 metres at 3.66g/t gold from 785.78 metres.

Significant mineralisation has now been extended more than 100 metres below the Princess May Shoot underground working and remains open at depth and along strike in both directions.

Optimisation studies are now underway to advance the known Mineral Resources towards production.

Company shares have dropped 6.45 per cent and are trading for 14.5 cents each just before market close.


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