Kingwest hits more high-grade gold at Menzies
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Special Report: Kingwest’s newly expanded resource drilling campaign has intersected further high-grade gold within and outside the current resource at its Menzies project.
Notable results from the latest batch of assay results are 1m at 107 grams per tonne (g/t) gold from 88m, 5m at 13.8g/t gold from 122m including 2m at 31.8g/t gold from 123m and 2m at 18.1g/t gold from 44m including 1m at 34.8g/t gold at the Menzies’ First Hit and Lady Shenton Systems.
While assays are pending for a further 17 holes, the success of the drill program to date has prompted Kingwest Resources (ASX:KWR) to expand the program by a further 80 holes totalling about 8,000m.
A further 2,000m of greenfield exploration drilling will also be carried out at various targets within the project. The additional holes are expected to be drilled before the end of this year.
The latest results follow on the back of recent results such as 4m at 11.04g/t gold from 47m and 3m at 12.28g/t from 79m.
The resource drilling at Menzies is aimed at upgrading both the size and confidence of the current resource, which stands at 319,900oz grading 2.1g/t.
Most of this is contained within the inferred category, though drilling could upgrade this to the higher confidence indicated category, which contains sufficient information on geology and grade continuity to support mine planning.
Kingwest noted that most of the holes drilled at the Lady Shenton System are located outside of the current Pericles resource and that results of up to 5m at 13.8g/t gold make it likely that resources can be extended significantly to the southeast and downdip.
Further drilling will test the potential for the Pericles lode to join with the Lady Shenton lode along with further holes to test for depth extensions.
Assays from the remaining holes that were drilled into the Stirling lodes are pending.
At the First Hit System, the top intersection of 1m at 107g/t gold was made within the existing resource within the Selkirk deposit.
Drilling is ongoing with exploration drill holes at Central Zone and more resource drilling at Pericles before the rig moves to Lady Irene for exploration drilling.
Prior to Kingwest acquiring the Menzies project, limited drilling at Lady Irene returned significant intersections including 39.3m at 4.27 g/t gold from 159m and 3.95m at 7.51 g/t gold from 124m.
There is no previous underground production at Lady Irene, which sits under transported overburden that hides mineralisation at depth.
Open cut production during the 1990s produced 6,502oz of gold at an average grade of 4.77gt.
Mineralisation remains open at depth and along strike.
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.