Kingwest Resources Ltd has made a gold discovery at a project (Menzies Gold Project in WA) that has been in plain sight for all to see for decades. The geology may have been there for millions of years, but explorers have only gone up and down that area for decades.
Mineral exploration is one of those business activities where patience is the biggest asset to have, along with an eager investment partner. Over the years, many have coined the phrase, Cash Is King. The mineral exploration industry has lived and died on the fortunes of investors since the first geological expedition set out many moons ago.
Lady Luck is the next obvious attribute that all explorers require and in the case of Kingwest Resources, it seems that they have their ducks all lined up in a row for them.
When you look at what I have called the Discovery Line, the fact that all but two of the drill holes intersected mineralisation of some sort is incredible.
As an exploration geologist, I will attest that this phenomenon is not common. We tend to see more negative results than positive ones, especially at the beginning of the program.
There is a lot of work yet to come and potentially lots of disappointments, but from an investor's point of view, I do feel that this is going to end well.
Coffee with Samso Episode 106 with Ed Turner, CEO of Kingwest Resources Ltd
Chapters
00:00 Start
00:15 Introduction
00:54 Ed introduces the Discovery.
01:53 What attracted Kingwest to the recent discovery?
04:23 Why has the target not been followed up before?
05:59 Are the lakes the Last Frontier?
07:07 Could this discovery open up more opportunities for Kingwest?
08:32 Has Kingwest discovered a Monster?
10:45 How deep could this mineralisation be?
11:51 The "discovery line" is significant....
13:15 Has Kingwest hit the target or is there something else?
14:41 Is the deep cover a saviour for Kingwest?
15:34 What is happening at Menzies?
16:51 Underground mining seems to go on forever.
17:23 Underground resources tend to not end abruptly.
17:51 The Importance of the Polymictic Conglomerate.
19:11 The Importance of Table 1.
20:53 The Importance of Gold detection by the Sample Assays.
22:27 Ed shares his wisdom to the Investors.
23:11 What is the orientation of the Conglomerate?
23:32 What attracted Kingwest to the Target?
24:10 A ´Samso Told You So´ Moment.
24:52 Ed's Words of Wisdom
25:28 Ed's reaction to the numbers coming into the office.
26:59 Conclusion
PODCAST
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 Ltd where he delineated the high-grade Abra lead-silver deposit that is shaping up to be a highly profitable mine development.
About Kingwest Resources
Kingwest Resources Ltd 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.
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 16 g/t and 32 g/t gold over their respective life of mine for a total of 650,000 ounces at 22.5 g/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 ounces at a high-grade average of 2.6 g/t.
A relatively shallow resource comprising 2.42 million tonnes at 2.2 g/t for 171,300 ounces (using 1 g/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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The information contained in this article is the writer’s personal opinion and is provided for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. Read full disclaimer.