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Kingwest Resources ltd.

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Summary

Project:

Menzies

Deposit:Pericles
Location:Australia
Commodities:Gold
Date:2/14/2020
Report Code:JORC
Report Type:Resource Estimation
Project Stage:Pursuing Resources Definition
Report details:14-2-2020: Kingwest Resources ltd. announces a Resource Estimation report for its Pericles deposit at the Menzies project. Updated mineral resource estimate at the Pericles deposit. Kingwest Resources Limited (“Kingwest” or “KWR”) is pleased to announce a
Resources:(Resources, I+I): 1.4Mt @ 1.8g/t Au (79.5koz Au) at Pericles
CP/QP:[Resources]: Don Maclean (Not stated)
ABSTRACT:Kingwest Resources Limited (“Kingwest” or “KWR”) is pleased to announce an updated Mineral Resource Estimate (MRE) for the Pericles Prospect at its Menzies Gold Project (MGP). The new estimate is 0.63 Mt at 1.8 g/t Au (Indicated Resource) and 0.78 Mt at 1.7 g/t Au (Inferred Resource) for a combined total of 1.4Mt at 1.8 g/t Au (79.5K oz Au). This represents an 87% increase in contained Au metal over the previous estimate in March 2016. The Pericles resource is shallow, extending from surface to 120 metres below surface and has potential to be exploited as an open pit. KWR plans to undertake pit optimisation and economic studies in the coming months to evaluate the potential for open pit mining of the resource. Kingwest CEO Ed Turner commented that “this is another great result with limited amount of drilling late in 2019 contributing to an impressive increase in the Pericles resource estimate. Mineralisation remains open along strike and at depth and therefore further increases in the future are possible.”

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