Coffee with Samso Episode 67 with Ed Turner, CEO of Kingwest Resources Ltd (ASX:KWR)
The realisation of establishing a gold mining province within the company's portfolio is gaining momentum with the latest results from the Goongarrie project.
Mineral Exploration has always been about taking the risk to drill projects. There is a humorous saying in our industry that one should never drill a perfectly good project. However, jokes aside, finding a province or a good concept is an acquired skill coupled with a (big) stroke of luck.
Kingwest has a province to work from and the Goongarrie project has always been the blue sky. Ed Turner and I talked about this in our very first Coffee with Samso back in October 2019, Coffee with Samso - Episode 025 - The Menzies Goldfields, however, at that time, this was all nothing more than a theoretical concept.
In February 2021, the reality is now apparent as more work has been done on both projects. In this episode, Ed Turner shares with us the significance of the recent drilling announcement about the Goongarrie project.
We discussed the meaning of the results and the underlying prospectivity of the salt lakes. These salt lakes may play a big role in coming up with potential future ounces of gold that is synonymous with companies working in the Kalgoorlie-Menzies gold belt.
About Ed Turner
Ed is a geologist with 30 years of experience throughout Europe, South America, Africa and Australia in a range of roles encompassing base, precious and speciality metals for leading mining companies. Technical strengths include exploration, underground mining, resource estimation, feasibility studies and development level work. Ed was previously engaged as the CEO and General Manager of Exploration of Geology for Galena Mining Limited where he delineated the high-grade Abra lead-silver deposit that is shaping up to be a highly profitable mine development.
About Kingwest Resources Limited (ASX: KWR)
Kingwest Resources Limited (“Kingwest”) is a mining and exploration company focused primarily on gold exploration in the Eastern Gold Fields Region of Western Australia. It will aggressively explore for and extract gold in a mix of advanced, intermediate, and greenfield projects within this highly prospective district.
Focus on the Menzies Gold Project - MGP
With a new team on board and new projects, Kingwest is redirecting its focus on developing the highly prospective Menzies Gold Project.
The Menzies Gold Project contains some of the highest-grade historic production in the Eastern Goldfields with the five underground mines producing between 16g/t and 32g/t Au over their respective life of mine for a total of 650,000 oz @ 22.5g/t. The last underground mining ceased in 1943 and there has been limited drilling beneath the historic workings since then. Open Pit mining during the 1990s before the collapse of the gold price in 1999 also produced 145,000 oz at a high-grade average of 2.6g/t Au.
A relatively shallow resource comprising 2.42Mt at 2.2g/t Au for 171,300 oz (using 1g/t cut off) has been estimated in recent years. However, the best future economic potential is in targeting the high-grade mineralisation that remains open at depth beneath every deposit.
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