Kingwest Resources Ltd (ASX:KWR) has fielded further high-grade gold results from infill drilling conducted by profit-sharing partner BML Ventures Pty Ltd at Selkirk deposit, part of the Menzies Gold Project in WA’s Goldfields.
The drilling is the key to confirming an updated mineral resource estimate (MRE) and has allowed the companies to optimise the pit shell and plan the mine.
It confirms the high-grade nature of the gold mineralisation at the discrete gold project within M29/154 in the Menzies Project, which boasts an MRE of 11,500 ounces at 2.15g/t gold (0.5 g/t gold cut off). This MRE remains open at depth.
Highlights
BML drilled 13 RC holes for 960 metres at Selkirk and was rewarded with results confirming high-grade gold, including:
- 6 metres at 24.62 g/t gold from 92 metres, including 1-metre at 111 g/t gold from 92 metres;
- 2 metres at 12.55 g/t from 32 metres;
- 3 metres at 14.62 g/t from 47 metres;
- 2 metres at 13.44 g/t from 55 metres; and
- 3 metres at 7.91 g/t from 82 metres.
Kingwest CEO Ed Turner said: “BML is making good progress as we move towards recommencing production at Selkirk and these drill results give us more confidence in the resource as well as underpinning the proposed cut back of the pit.
“The recommencement of commercial mining at Menzies after more than 20 years since open cut mining finished is significant and we expect this to be the first of a number of mining operations at Menzies that should deliver attractive short and medium-term cash inflow to KWR.”
Kingwest’s 50:50 partner is making good progress on other pre-permitting test work at Selkirk.
Next up will be some metallurgical test-work, the drilling of additional infill holes from the pit ramp once dewatering is complete, and then an updated MRE and a mining proposal.
About the Menzies Gold Project
The MGP is one of Western Australia’s major historic gold fields, 130 kilometres north of the globally significant gold deposits of Kalgoorlie. The project covers a contiguous land package over a strike length in excess of 15 kilometres.
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 the project’s closure more than 20 years ago had been limited prior to Kingwest snapping it up in 2019.