KWR 0.00% 2.9¢ kingwest resources limited

Ann: Menzies JORC gold resources surpass 500,000 ounces, page-22

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    Below from announcement 6 October 2021 regarding the JV and Yunndaga at Menzies

    Kingwest Resources Limited (“Kingwest” or “KWR”) is pleased to announce it has entered into a term sheet with FMR Investments Pty Ltd (ACN 624 972 185) (“FMR”) for the formation of a 40% KWR / 60% FMR profit share JV to recommence mining at its first high-grade underground MRE at Yunndaga, located 6km south of the town of Menzies within the Menzies Gold Project (MGP) (Figure 1). The Yunndaga underground JORC Mineral Resource Estimate (MRE) comprises 57,000 oz @ 4.6 g/t Au (3.0 g/t Au cut off) or 79,200 oz @ 3.7g/t Au (2.0 g/t Au cut off) - open at depth and to the north (Table 1 and Table 2). The parties agree to negotiate in good faith with a view to entering into a formal joint venture agreement (“JV Agreement”) by no later than 30 November 2021 (or such other date as agreed by the parties).

    Announcement on the 26th of April was a surprise and did not have any drill results from Yunndaga.

    Ed mentioned in an interview that FMR are to DD 6 holes into Yunndaga.

    The market is totally missing the ounces and high grade at Yunndaga at the moment.

    Can a left field announcement be due soon to increase grade/width regarding Yunndaga?
 
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