Special Report: A maiden 5,000m early stage drilling program at Kingwest Resources’ exciting Goongarrie Gold Project (GGP) is about to get underway.
The GGP is about 40km south of Kingwest’s (ASX:KWR) flagship Menzies Gold Project and 90km north of Kalgoorlie.
Goongarrie covers an 18km section of the gold-mineralised Victorious Basalt/Black Flag beds contact, which also hosts Bardoc Gold’s (ASX:BDC) 1.7-million-ounce Aphrodite gold deposit and Ardea Resources’ (ASX:ARL) Aphrodite North gold discovery at Kingwest’s southern boundary.
There’s a 3.5km section of this contact outcropping at surface within Kingwest’s leases, which hosts the former Goongarrie Lady and Jenny’s Reward gold deposits.
Kingwest believes that the remaining 18km section — unexplored because the gold-rich contact is blanketed under a shallow salt lake — could be hiding new gold discoveries.
That salt lake means no outcropping rocks to ‘guide’ old time prospectors and miners, while modern exploration since closure of the mines over 20 years ago has also been limited.
These salt lakes could be hiding a company maker.
The 18-million-ounce Kambalda-St Ives mining camp, for example, was only discovered under Lake Lefroy near Kalgoorlie in 2012.
“Despite its obvious gold endowment, the GGP is remarkably underexplored compared to most of the Eastern Goldfields because most of the area lies under shallow lake sediments which has inhibited previous exploration,” Kingwest chief executive Ed Turner says.
“Modern, cost-effective lake drilling rigs are now readily available to perform this work.
“Kingwest has tens of kilometres of gold mineralised structures to test along strike from major gold deposits and we look forward to announcing results as we receive them over the coming months.”
This story was developed in collaboration with Kingwest Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.