Kingwest Resources - KWR(ASX) News & Expert Insights from Stockhead

Kingwest Resources Limited is an exploration company focused primarily on gold exploration at the historic Menzies gold fields, 120km north of Kalgoorlie. The Menzies Project contains some of the highest-grade historic production in the Eastern Goldfields with the five underground mines producing between 16g/t and 32g/t Au over their respective life of mine for a total of 650,000 oz @ 22.5g/t. The last underground mining ceased in 1943 and there has been limited drilling beneath the historic workings since then. Open Pit mining during the 1990’s before the collapse of the gold price in 1999 also produced 145,000 oz at a high-grade average of 2.6g/t Au.

A relatively shallow resource comprising 3.29Mt at 2.0g/t Au for 208,300 oz (using 1g/t cut off) has been estimated, however the best future economic potential is in targeting the high-grade mineralisation that remains open at depth beneath every deposit. This was recently proven through underground sampling data acquired from the DMIRS archives which include results such as 31m @ 22.3 g/t Au with an average width of 2.1m at the bottom level of the Yunndaga underground workings, and 22m @ 49.5 g/t Au from 18 channel samples from the lower levels of the Lady Shenton workings.

KEY PEOPLE

Ed Turner – CEO

Ed is a geologist with 30 years of experience throughout Europe, South America, Africa and Australia in a range of roles encompassing base, precious and specialty metals for leading mining companies. Technical strengths include exploration, underground mining, resource estimation, feasibility studies and development level work. Ed was previously engaged as the CEO and General Manager of Exploration of Geology for Galena Mining Limited where he delineated the high grade Abra lead-silver deposit that is shaping up to be a highly profitable mine development.

Jonathan Downes – Non-Executive Director

Jonathan has more than 25 years’ experience in the mining industry and has worked in various geological and corporate capacities. Jonathan has experience with nickel, gold and base metals and has also been intimately involved with numerous private and public capital raisings. He was a founding director of Hibernia Gold (later Moly Mines Ltd) (ASX: MOL), Ironbark Zinc Limited (ASX:IBG) and Siberia Mining Corporation Ltd (ASX: SIB) and is currently a non-executive director of Galena Mining Limited (ASX: G1A) and Corazon Mining Limited (ASX: CZN).

Adrian Byass – Non-Executive Chairman

Adrian is a resource and economic geologist with over 20 years’ experience in the mining industry both in listed and unlisted entities globally. Adrian is a Non-Executive and Executive Director of various listed and unlisted mining entities, which have transitioned to production in bulk, precious and specialty metals around the world. Adrian is currently on the Boards of ASX lead-silver, phosphate, nickel and lithium companies. Adrian has ASX and AIM Board experience and specialises in identifying assets that offer strong investor upside.