Coffee with Samso Episode 50 with Ed Turner, CEO of Kingwest Resources Ltd (ASX: KWR)
Prophecy come true :)
The Menzies Goldfields is finally finding its time in the limelight as Kingwest Resources Limited (ASX: KWR) delivers good results on every drilling program. When Kingwest first appeared in their first Coffee with Samso - Episode 025 - The Menzies Goldfields in October 2019, I have said that given that the management is genuine and funding is readily available, this is going to be Goldfield.
I am happy to see that this is slowly unravelling my prophecy. Ed Turner has shared with us this journey since it is fantastic to see the relationship continuing over time.
Ed shares with us his confidence in the strategy of the company. The buoyant market has allowed the company to explore and developed the near-surface resource. The current resource has increased from 170,000 ounces to 320,000 ounces with a 1g cut-off.
The current drilling program is being extended because the results are demanding the continued presence of the drillers. Positive results are driving exploration activities.
We have drilled down to 730m and we are still getting 25 g/t. - We are pushing to be in production in two years time.
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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