JORC Gold Resources Surpass 440,000 Ounces
Kingwest Resources Limited (ASX:KWR) has unveiled an updated Mineral Resource Estimate’s (MRE’s) for all deposits at the Menzies Gold Project in Western Australia.
The MGP is located approximately 130km north of Kalgoorlie and is well serviced by infrastructure and within trucking distances of numerous treatment plants.
CEO, Ed Turner, said resources at the MGP have now surpassed 440,000 ounces and the Indicated category has increased by 170% since the last MRE update in July 2020.
“We are very pleased to continue to increase our near surface gold resources at Menzies. The successful completion of the infill drilling allows the finalisation of optimisation work in the Scoping Study which will be released soon,” Mr Turner said.
“It is important to note that these MRE’s are constrained by depths that are likely to be captured within open cut mining and Kingwest drilling has intersected significant amounts of deeper high-grade mineralisation that is not included here but may be included in future underground MRE’s.
“A large increase in the conversion of Inferred Resources to Indicated Resources aids us as we investigate the opportunities for economic production of these deposits.”
Other highlights of the new results include:
- Indicated Resources have increased from 17% to 46% of total resources
- High grade near surface Resources now total 315,500 ounces at 1.8 g/t g/t cut off)
- The increased MRE Indicated Resources supports pit optimisation and economic studies as part of a Scoping Study (to be released shortly)
