✦ Ed Turner, CEO of Kingwest Resources Ltd (ASX: KWR) explains why patience is a necessary virtue for exploration.
Sometimes the treasure is right in front of us in plain sight. All we need to do is start exploring.
Kingwest has made a gold discovery in a project that has been there all this time. The geology may span millions of years, but explorers have only been scratching the surface of that area for only a few decades.
Over the years, we have heard the phrase "Cash is King" over and over again. The mineral exploration industry has lived and died on the fortunes of investors since the first geological expedition set out once upon a time.
For mineral exploration to work, we need three ingredients.
1. Patience is the biggest asset. Never leave home without it.
2. Next, it is a big boost to have an eager investment partner. We all need a bit of support to do big things.
3. Finally, explorers need to have Lady Luck close by their side. When she smiles on a project, one can literally strike gold.
As Noel Ong, CEO of Samso has discovered in his conversation with Mr. Turner, Kingwest Resources has been very fortunate to have the stars fall in perfect alignment with one another. Noel terms their recent exploration the Discovery Line, and it is nothing short of a miracle. All except two of the drillholes have intercepted mineralisation of some sort. For Noel as an exploration geologist, this is an unusually rare phenomenon.
It is typical to see negative results, especially at the beginning of the program. So Kingwest is certainly bringing some happy tidings.
There remains much work to be done, and perhaps some disappointments along the way, but speaking from an investor's point of view, Noel thinks this is going to be a happy ever after.
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 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.
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.
Contact Kingwest Resources Limited
a/ Unit 3, Churchill Court
335 Hay Street
Subiaco, WA 6008 Australia
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Disclaimer
This article is sponsored content.
ASX companies engage Samso and Brilliant-Online to share their commentary on the progress of their companies and projects. The author, owners of Samso and Brilliant-Online and associated entities may or may not hold shares of these companies.
The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. - Samso
About the Author
Noel Ong, CEO of Samso tells compelling stories by engaging business leaders to reveal insights beneficial to the investment community.
Contact Samso
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t/ +61 490 092 814
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