Kingwest Resources Ltd (ASX:KWR) has doubled the known strike length of the Sir Laurence gold discovery at Goongarrie Project to more than 2 kilometres of strike length and 500 metres of width through aircore drilling.
The mineralisation remains open in all directions, leading Kingwest to double the planned initial diamond core drilling program while a minimum of 4,000 metres of additional aircore drilling is also planned for the first quarter of 2022 to test for further extensions.
A promising intercept of 8 metres at 5.0 g/t gold from 12 metres depth about 1.5 kilometres west of the Sir Laurence discovery highlights the high prospectivity of this potential new gold discovery.
“Demonstrates larger project potential”
“Sir Laurence continues to exceed expectations with significant intersections on every line of drilling now over more than 2-kilometres strike length and up to 500 metres across strike,” Kingwest Resources CEO Ed Turner said.
“Importantly the last four lines at the northern end of Sir Laurence all had their best results in the last hole of the line at the eastern end, so mineralisation is wide open there as well as to the north and west.
“The planned diamond core drilling program now commencing in early 2022, with a new customised drill rig, has now been doubled and an additional minimum 4,000 metres of aircore drilling is also being planned to test for further extensions to the Sir Laurence mineralised system.
“To intersect 8 metres at 5.0 g/t gold in a regional hole 1.5 kilometres to the west of Sir Laurence also demonstrates the larger project potential. This is a great way to finish off the year and we eagerly anticipate recommencing drilling next year.”
Shares have been as much as 13.9% higher this morning to 20.5 cents after reaching a new two-year high of 24 cents late last month.
Next steps for Goongarrie
An initial diamond core program consisting of a minimum of 2,500-3,000 metres of diamond core drilling will begin in January 2022 at Sir Laurence.
The drilling is aimed at defining the three-dimensional controls of the primary mineralisation and will target bedrock mineralisation already encountered in aircore drilling programs, to be extended as required depending on results.
This is a much larger program than originally planned, as multiple new zones of bedrock mineralisation have recently been intersected.
It will be completed with a newly acquired Raglan Drilling rig more suitable to the lake conditions after the first diamond core rig became continually bogged and could not complete any of the planned drilling.
A further minimum of 4,000 metres of aircore drilling is also planned at Sir Laurence to continue to test for extensions to the mineralisation that currently has not been closed off in any direction.
About Kingwest
Kingwest Resources is a mining and exploration company engaged in advancing its gold projects into production as well as discovering new gold resources in its highly prospective projects in the Eastern Goldfields region of Western Australia.
The flagship Menzies Gold Project (MGP) is one of Western Australia’s major historical goldfields and covers a contiguous land package over a strike length of more than 15 kilometres.
The MGP has recorded historical production of 643,200 ounces at 22.5 g/t gold from underground between 1895 and 1943 plus 145,000 ounces at 2.6 g/t open cut between 1995 and 1999, for a total of 787,200 ounces at 18.9 g/t.
Kingwest’s Goongarrie Project is highly prospective because it hosts an 18-kilometre section of the alluvium-covered and virtually unexplored, gold-mineralised Victorious Basalt/Black Flag beds contact, which 75 kilometres south at Kalgoorlie becomes the Golden Mile Dolerite/Black Flag beds contact and hosts 80 million ounces of gold.