- Kingwest Resources (KWR) has struck gold once again at its Menzies Gold project
- The exploration has confirmed the presence of high-grade gold at Menzie’s Yunndaga mine – one of five currently under exploration at the project
- Drilling began at the Menzies project in September, and further results from the 10-week exploration program are expected in the coming weeks
- Shares in Kingwest remain flat at 19 cents each on the ASX today
Kingwest Resources (KWR) has struck gold once again at its Menzies Gold project.
The gold was discovered during exploration tests at the Yunndaga prospect, designed to get a better sense of the resource and refine future drilling programs.
The exploration has further confirmed the presence of high-grade gold at the deposit – one of five currently under exploration at the Menzies project.
So far, 10 holes have prospected at the Yunngada mine for a total of 3124 metres. The company released results from these assays in late November this year.
In its announcement to the market this morning, Kingwest said recent exploration paid particular attention to the historic Princess May lode. Mining has now been completed to a depth of 600 vertical metres, where previous results returned a 64.4 g/t gold grade at 92.3 metres.
Drilling began at the Menzies project in September, and further results from the 10-week exploration program are expected in the coming weeks.
The WA-based Menzies Gold Camp is fast proving to be one of the Eastern Goldfield’s most prospective gold projects.
Recently, Kingwest acquired both the Menzies and Googarrie projects for A$8 million in cash from the newly formed Horizon Minerals (formerly Interim Resources).
With a new team recently onboarded at Kingwest, the company says it will focus on prospecting the Menzies exploration play for the time being.
The five operating mines at the project have the capacity to produce between 16g/t and 32g/t of resource apiece across their total mine life. This could result in the production of as much as 650,000 ounces of gold at Menzies.
Kingwest says it will use a combination of RC and diamond drilling programs to explore the five current prospects at Menzies below the surface.
Shares in Kingwest remain flat at 19 cents each on the Australian Securities Exchange at 1:12 pm AEDT.