West Mining tables Kena-Daylight gold estimate, B.C.
West Mining Corp. [WEST-CES; WESMF-OTC, 1HL-FSE] on Tuesday May 11 released a new resource estimate for its 100%-owned Kena-Daylight gold and copper property in southeastern British Columbia.
According to a NI 43-101-compliant technical report, the property contains 2.8 million ounces of gold in the inferred category and 561,000 of gold in the indicated category.
West Mining President and CEO Nicholas Houghton described the estimate as “tremendous news for shareholders of the company.”
“With the continuation of the anomaly defined by our recent geophysical survey of the Kena Southern zone not assimilated into the report, the area hosting the indicated and inferred resource represents only a portion of the expansive Kena project,” he said. “As the resource remains open at depth and along strike, the company is fully financed and excited for the upcoming field season and potential of this year’s drill program.”
Prior to Tuesday’s news release, West Mining shares were trading at 25.5 cents in a 52-week range of 30 cents and 22 cents.
West Mining is a mineral exploration company with a focus on acquiring and exploring advanced and prospective early-stage projects. West is focused on its Kena gold projects in the Nelson Mining Division, southeast B.C., its Spanish Mountain West and Junker gold projects in northern B.C., and its Kagoot cobalt project near Bathurst, New Brunswick.
The Kena Project consists of five deposit areas, including the Kena Gold, Gold Mountain, Daylight, Great Eastern/Western and Kena Copper Zone.
Total drilling to date on the Kena property is 252 holes totaling 39,819 metres. The resource is estimated from 221 drill holes within the Kena, Gold Mountain and Daylight areas, based on 31,641.5 metres of gold assays.
News of the resource estimate comes after West Mining recently engaged Moose Mountain Technical Services of Cranbrook, B.C. for the preparation of an updated NI 43-101-compliant resource estimate for the Kena and Gold Mountain zones at its Kena-Daylight property.
Moose Mountain recommends drilling be conducted in two phases, one exploring targets on the Daylight portion of the property and the other on the Kena side. Phase 2 is not contingent on the results of Phase 1 as the phases target separate zones.
Phase 2 comprisesf diamond drilling on the Kena portion of the property with two priority target areas, the Kena Copper Zone with 15 holes and the Gold Mountain-Kena zone to build ounces and to potentially upgrade the inferred resource in to the measured and indicated categories.
Total estimated drilling cost is $1.16 million.
The company is fully funded to complete the recommended exploration program which is expected to begin this month.