Resources At MGP Have Now Surpassed 475,000 ounces
Kingwest Resources Limited (ASX:KWR) has unveiled its first high-grade underground MRE at Yunndaga as well as total updated Mineral Resource Estimate’s (MRE’s) at the Menzies Gold Project (MGP).
The MGP is located approximately 130km north of Kalgoorlie in Western Australia and is well serviced by infrastructure and within trucking distances of numerous treatment plants.
Highlights:
- New Yunndaga underground JORC Mineral Resource Estimate (MRE) of 57,000 oz @ 4.6 g/t Au (3.0 g/t Au cut off, fresh rock only) or 79,200 oz @ 3.7g/t Au (2.0 g/t Au cut off, fresh rock only)
- An 384% increase on March Yunndaga 2021 MRE (using 3.0 g/t Au cut off)
- Resource open at depth and to the north
- Total MRE’s at Menzies increased to 475,100 oz @ 1.4 g/t from 446,200 oz @ 1.3 g/t1 (0.5 g/t cut off)
- New Yunndaga MRE allows KWR to consider various commercial underground mining options, including profit share or toll-treatment
“We are very pleased to complete a maiden high-grade underground MRE at Menzies. The Yunndaga deposit is more amenable to underground mining than open cut mining given the current pit extends to 120 metres depth already and the ramp to the bottom of the pit gives excellent access for a portal and decline,” CEO Ed Turner said.
“The MRE is constrained by the depth of current drilling from surface, which only extends approximately 100 metres below the current pit, so the potential to add additional resource ounces with deeper drilling from underground is high.
“The Princess May Shoot, which is part of the Yunndaga System, has historic workings down to 600 vertical metres so there is a good chance other shoots within the system also extend to significant depths below the MRE defined here.”
The MGP is one of Western Australia’s major historic gold fields. Located 130km north of the globally significant gold deposits of Kalgoorlie. The MGP covers a contiguous land package over a strike length in excess of 15km.
Within the MGP a series of structurally controlled high-grade gold deposits have been historically mined and display extensive exploration potential for high-grade extensions. Modern exploration since closure over 20 years ago has been limited.
The MGP has recorded historical production of 643,200 oz @ 22.5g/t Au2 from underground (U/G) between 1895 and 1943 plus 145,000 oz @ 2.6g/t Au2 open cut between 1995 and 1999, for a total of 787,200 oz @ 18.9g/t2 Au. The MGP is hosted along the Menzies Shear Zone. All deposits lie within granted Mining Leases and are 100% owned by KWR.
Current mineral resources total 475,100 oz @ 1.35 g/t Au using a 0.5 g/t Au cut-off or 346,100 oz @ 2.06 g/t Au using a 1.0 g/t Au cut-off.
Importantly the MGP lies on the Goldfields Highway, has power and water and is within trucking distance of numerous Gold Processing Plants.
The GGP is located approximately 40km south of the MGP and 90km north of Kalgoorlie. It is a contiguous land package covering approximately 125 square km over a strike length in excess of 25km. Within the GGP a series of structurally controlled high-grade gold deposits have been historically mined and these display potential for high-grade extensions. Modern exploration since closure of the mines over 20 years ago has been limited. The GGP sits within the Bardoc Tectonic Zone (BTZ) which extends south to Kalgoorlie and north to Menzies.
All resources lie within granted Mining Leases and are 100% owned by KWR. Importantly the GGP lies only 90km north of Kalgoorlie on the Goldfields Highway and is within trucking distance of numerous Gold Processing Plants.
Kingwest has so far delineated 10 main target areas that require drill testing and five of these have undergone first pass testing to date.
First pass aircore drilling in February returned stellar gold intersections within Target A9 including 6m @ 17.2 g/t Au from 94m within 38m @ 3.1 g/t Au from 62m in KGA038 to end of hole (blade refusal) and 4m @ 2.5 g/t Au from 74m within 8m @ 1.3 g/t Au from 74m in KGA 039 (adjacent hole, 60m east of KGA038)3 .
Follow up RC drilling intersected 5m @ 8.31 g/t Au from 73m and 3m @ 4.08 g/t Au from 89m in KGR001 as well as 5m @ 3.60 g/t Au from 45m in KGR0074 .
These lie along strike from Ardea Resources discovery immediately south of KWR’s tenement boundary as well as 7km north of Bardoc Gold’s 1.7M oz Aphrodite deposit. An inaugural 5,638 metre track mounted aircore drilling program of targets A1, A2, A3 and A10 under Lake Goongarrie has just been completed
For further information please visit: https://www.kingwestresources.com.au/
