High-grade gold keeps flowing at Kingwest’s Menzies project
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Special Report: Meaningful high grade gold intersections at Menzies could grow the resource “significantly” and lead to an increase in the overall grade, Kingwest (ASX:KWR) says.
Kingwest is currently drilling to upgrade the 319,900oz gold resource at the flagship Menzies Gold Project (MGP). It is also poking holes in a number of high-quality exploration targets.
110 RC holes for 10,084m of Kingwest’s drilling blitz at the MGP have been completed so far.
Latest results are now in: the ‘Stirling’ resource drilling at Lady Shenton has returned numerous very high-grade results, including 2m at 37.71 g/t gold from 63m in hole KWR124, and 1m at 56.54 g/t gold from 56m in hole KWR123.
These two holes are very significant, Kingwest says.
They lie on the southern edge of the mineral resource and therefore “the resource is expected to grow significantly”, the company says.
“These intersections were also of a much higher grade than the estimated resource blocks in this position, so this could possibly lead to an increase in the overall grade in an updated MRE [mineral resource estimate].”
And the gold keeps running. Drilling to date has only focussed on shallow mineralisation less than 100 vertical metres deep.
Kingwest has planned more drilling to test for further strike and depth extensions.
Six exploration holes were also punched into the ‘Central Zone’, which lies between the Lady Shenton and Lady Harriet systems. Assays are pending.
Drilling is ongoing, with additional drilling planned to test for mineral extensions at Stirling before the rig moves to Lady Irene – about 5km north west of ‘First Hit’ — for exploration drilling.
Old drilling at Lady Irene pulled up intercepts like 39.3m at 4.27 g/t gold from 159m, but modern exploration has been scant.
“There was no historic underground production at Lady Irene, and it sits under transported overburden which acts as a ‘blanket’ to hide mineralisation at depth,” Kingwest says.
“This means the prospectors more than 100 years ago could not detect the mineralised veins just one to two metres below the surface.”
Newly granted prospecting licenses between the First Hit System and Lady Irene deposits also lie beneath transported overburden and have not been effectively drill-tested.
Before the end of 2020, Kingwest intends to complete first-pass ‘aircore’ drilling within these licences
This article was developed in collaboration with Kingwest Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.