Drilling confirms thick gold zones beneath old Misima pit
Sydney, Feb 18, 2019 AEST (ABN Newswire) - Kingston Resources Limited (
ASX:KSN) is pleased to report the results of further exploration drilling at its flagship 2.8Moz Misima Gold Project in PNG.
Assay results from another five diamond holes drilled into the main Umuna Lode up to December 2018 have now been received. These results are subsequent to the intersection of 40m @ 3.17g/t Au in hole GDD013 announced in November 20181.
Highlights from the drilling include:
- 56m @ 1.01g/t Au, 7.1g/t Ag from 110m in GDD014 (Figure 2), including
o 4m @ 4.81g/t Au and 17.9g/t Ag from 158m;
- 10m @ 1.25g/t Au, 1.4g/t Ag from 92m in GDD015; and
- 10m @ 1.76g/t Au, 1.5g/t Ag from 151m in GDD016.
Following the success of drilling targeting the Umuna Lode at depth, the Company decided to use these five holes to target shallower mineralisation beneath the Umuna Pit and within the existing 2.8Moz Misima mineral resource to test the interpreted continuity of grade and structure. Pleasingly, all results were in line with expectations.
Kingston Resources Limited Managing Director, Andrew Corbett said: "These five holes into the northern section of the Umuna resource have confirmed what we had interpreted to be in that area. The result in GDD014 in particular demonstrates the potential for increased thickness and grade within the shear, including a high-grade zone of 4.8g/t Au near the footwall contact. We've now moved the rig down to our Ginamwamwa prospect, where a range of holes are being drilled to test underneath the high-grade supergene gold we identified at surface through the successful 2018 geochemistry program. After completion of the Ginamwamwa program the rig will move to Quartz Mountain."
Having tested a range of locations along the Umuna Shear beneath the old pit, the Company's exploration strategy is now firmly focused on discovering and defining nearsurface satellite mineralisation at prospects including Ginamwamwa, Quartz Mountain, and Ara Creek. Adding near-surface resources is likely to be important in the early stages of any potential future mining operation.
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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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