- Kingwest Resources (KWR) say final drilling results from their First Hit prospect have shown very high gold grades.
- These results confirm all 5 prospects at the Menzies project have very high gold grades
- The company is yet to review all drilling results, and each prospect is yet to be ranked or prioritised
- Kingwest (KWR) is down 2.5 per cent, trading at 19.5c apiece
Mining and exploration company Kingwest Resources (KWR) has once again confirmed very high gold grades in tests done at their Menzies project.
These were the final test results for First Hit – one of five prospects in part of a diamond drilling campaign.
The Menzies project, which was only recently acquired by the company, has now completed all initial drilling, which began in September.
These final results confirm that all 5 prospects at the Menzies project have high-grade gold.
And marks the success of their diamond drilling campaign across all five prospects, which aimed to better understand and target high-grade gold lodes historically mined in the area.
Significant results across all five prospects include 40.7 grams of gold from 99.65 metres in KWD032 at Yunndaga; and 57.6 grams of gold from 121.52 metres in KWD030 at First Hit.
Kingwest CEO Ed Turner said the first testing has been “very successful,” adding,
“This places our Company on an exciting platform going forward. Our team is very excited by the prospect of targeting possible extensions to the known high-grade shoots early in the new year once we have had time to properly digest these results,” he said.
“In addition, we have many as-yet untested prospects that also deserve attention,” he told the market.
The three holes drilled at the First Hit prospect included returns of 23.22 grams of gold per tonne between 121.5 and 124 metres; including 52.78 grams of gold per tonne at 121.52m in KWD030.
Kingwest is yet to review all drill results from 2019, but say they will integrate their findings with the recently flown detailed aeromagnetic survey, as well as historic drill results, in order to plan the most cost-effective follow up drilling in 2020.
Kingwest says with so many high-grade targets, each prospect will need to be ranked and prioritised for further work.
Kingwest is down 2.5 per cent, trading at 19.5c a piece at 5:10 pm AEDT.