Positive Sampling Results at Ginamwamwa Prospect
Sydney, Aug 14, 2018 AEST (ABN Newswire) - Kingston Resources Limited (
ASX:KSN) (Kingston or the Company) is pleased to report encouraging exploration results from the Ginamwamwa Prospect (Ginamwamwa), located south of the Umuna Pit at the Company's flagship Misima Gold Project.
Highlights
- New sampling highlights Ginamwamwa potential at Misima Gold Project
- Surface mineralisation identified over a strike of 500m with results including:
o 25m @ 1.67g/t in channel sampling including samples up to 16.9g/t
o Southern zone of high grades averaging 4.91g/t Au
- Sampling and structural mapping ongoing
- Auger sampling now completed at Misima North initial target areas T2 & T3
- More assay results from Misima drill program expected in coming weeks
Ginamwamwa was identified during fieldwork in early 2018(see Note below) with reported samples returning gold grades as high as 39g/t(see Note below) and is developing into a significant discovery with surface mineralisation identified over +500m strike length.
Recent mapping and channel sampling has extended the prospect 200m to 300m northeast along the previously identified structural corridor. An intensively sampled area of closely spaced artisanal workings on the southern side of Ginamwamwa has averaged 4.91g/t Au, within an area of ~40m in diameter. (Figure 1 overleaf)(see link below).
Approximately 200m northeast, a channel dug perpendicular to the interpreted strike of mineralisation has intersected a 25m mineralised zone averaging 1.67g/t Au including samples up to 16.9g/t.
Channel sampling and structural mapping over Ginamwamwa continues with a view to generating future drilling targets. The Company is currently excavating costeans with an excavator to accelerate the progress.
Further, Kingston advises that two structural targets over the Umuna Shear at Misima North have now been tested for geochemical anomalism by initial gridded auger sampling programs. Targets T2 and T3 were highlighted in early 2018 during the regional review conducted by Dr Greg Cameron. Both areas contain interpreted local flexures in the strike of the Umuna Shear characteristic with dilation - a classic structural setting for gold mineralisation in this environment. Assay results from this work are expected this quarter.
Kingston Resources Limited Managing Director, Andrew Corbett said:
"Recently completed work at Ginamwamwa is uncovering a highly prospective new area of mineralisation just south of the Umuna Pit. Our very capable in-country team has been working closely with artisanal miners and are beginning to develop a broader understanding of the area."
"The initial high-grade results that we have received over a +500m strike length are most encouraging. Channel sampling and structural mapping activities continue at the prospect which will pinpoint future drilling targets. It is also important to note that this area is a new discovery so none of the mineralisation is included in our current 2.8Moz resource."
"Our exploration activities are progressing well across the Misima Project, which include more mapping, channel sampling, auger sampling and drilling. Next assay results from recent drilling will be finalised towards the end of the month after which time we will be able to provide shareholders with a steadier stream of results. Misima is shaping up as a great asset with significant upside."
Assay samples from drill program pending:
Samples from the initial two drill holes are now undergoing final analysis in Townsville and are expected to be finalised very soon. These initial samples had been held up with the service provider in Townsville while clearing a backlog of work. Going forward, the provider has assured Kingston that turnaround times are expected to be reduced. More samples are currently in transit to Lae for sample preparation, following which they will be shipped to Townsville for final analysis. These results are expected in the coming weeks.
Note: ASX-KSN announcement 27 March 2018
To view figures, please visit:
http://abnnewswire.net/lnk/I7M36854
About Kingston Resources Limited
Kingston (ASX:KSN) is a metals exploration company. Currently the Company's priority is the world-class Misima Gold Project in PNG, which contains a JORC resource of 2.8Moz Au, a production history of over 3.7Moz and outstanding potential for additional resource growth through exploration success. Kingston currently owns 70% of the Misima Gold Project.
In addition, Kingston owns 75% of the Livingstone Gold Project, WA which holds a 50koz resource and is the site of ongoing exploration and a number of high-grade historic intersections.
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