en.Wedoany.com Reported - WesternX, a wholly-owned subsidiary of Metal Bank, has lodged a mining lease (ML) application for the Kingsley gold deposit within the Livingstone project in Western Australia (WA).
The Kingsley deposit is held by a joint venture (JV) comprising WesternX (75%) and Trillbar Resources (25%). The application area is centered on the Kingsley deposit, which has a Mineral Resource Estimate (MRE) of 1.68 million tonnes (mt) at 1.35 grams per tonne (g/t) gold, equivalent to 73,000 ounces (oz) of gold, classified as Inferred Resources under the Joint Ore Reserves Committee (JORC) 2012 standard. Based on previous metallurgical test work, the average gold recovery rate is 93.8%.
The deposit is a key component of the larger Livingstone gold project, which has a combined Joint Ore Reserves Committee (JORC) 2012 Mineral Resource Estimate (MRE) of 2.81 million tonnes (mt) at 1.36 grams per tonne (g/t) gold, totaling 122,500 ounces (oz) across three adjacent deposits. Approximately 70% of this is classified as Inferred Resources and 30% as Indicated Resources.
Mineralization at Kingsley is typically shallow, occurring mainly in the oxide and transition zones, extending approximately 900 meters. The deposit remains open at both the northern and southern ends, with mineralization ranging from surface to at least 120 meters below ground. The proposed mining method for Kingsley is conventional open-pit mining, including drilling, blasting, loading, and hauling.
In addition to Kingsley, the Livingstone project also includes the Homestead and Winja deposits, as well as an exploration target at Kingsley East, located east of the current Kingsley resource estimate. The Kingsley East exploration target is conceptual in nature, estimated at 290,000 to 400,000 tonnes (t) at 1.8–2 grams per tonne (g/t) gold, equivalent to approximately 16,800–25,700 ounces (oz). However, further exploration is required to confirm mineral resources in this area.
Previous drilling results in the Livingstone project area include an intersection of 4 meters (m) at 6.26 grams per tonne (g/t) gold at Livingstone North.
Metal Bank Chief Executive Officer Tim Gilbert said: "The Kingsley mining lease application is another significant step on Metal Bank's path to becoming a near-term gold producer." The company has also recently applied for mining leases for the Homestead and Winja deposits at Livingstone and the Seven Leaders deposit at Whiteheads. At Homestead, mine planning is well advanced, and the current focus is on advancing studies to support the grant of the mining lease. The company expects to commence diamond drilling shortly to collect geotechnical data and samples for recovery test work.
