- Kingwest Resources (KWR) confirms a large bedrock mineralised gold system at the Sir Laurence discovery within the Goongarrie gold project in WA
- The gold system is 500 metres wide, extends for 200 metres of strike and contains strongly altered, quartz-veined bedrock
- Kingwest plans to follow this up with 1000 metres of diamond drilling which will begin four weeks
- Company shares are down 17.7 per cent to trade at 14 cents at 3:24 pm AEST
Kingwest Resources (KWR) has confirmed a large bedrock mineralised gold system at the Sir Laurence discovery within the Goongarrie gold project in WA.
The gold system contains strongly-altered, quartz-veined bedrock over an area with a 500-metre width and 200-metre strike length.
Kingwest drilled 233 drill holes, for 5638 metres, at the Goongarrie project with reconnaissance samples returning peak values of 430 parts per billion (ppb) gold 1.5 kilometres north of and 387ppb gold four kilometres north of the Sir Laurence discovery.
The mineralisation is open in all directions and at depth and the underlying magnetically defined Sir Laurence litho-structural target extends along strike for at least two kilometres in a north-south direction. Kingwest plans to follow this up immediately with aircore drilling.
CEO Ed Turner commented on the upcoming drilling program.
“As it is a blind discovery under lake sediments we need to test the structural controls of the primary (fresh rock) mineralisation and for this we need oriented diamond core drilling which will commence in four weeks. We are excited about the potential outcomes from this drilling,” he said.
Kingwest Resources will complete 1000 metres of diamond drilling to test the Sir Laurence discovery at depth, 6000 metres of aircore drilling to test targets to the north and south, as well as 2000 metres of further aircore drilling to test five anomalous zones.
Company shares were down 17.7 per cent to trade at 14 cents at 3:24 pm AEST.