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Kin Mining NL

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Summary

Project:

Leonora

Deposit:Cardinia
Location:Australia
Commodities:Gold
Date:8/30/2019
Report Code:JORC
Report Type:Pre-Feasibility Study
Project Stage:Pursuing Resource Increase/Upgrade
Report details:30-8-2019: Kin Mining NL announces a Pre-Feasibility Study report for its Cardinia deposit at the Leonora project. PFS results and updated ore reserve for Cardinia project. Kin Mining NL (“Kin” or “Company”) (ASX:KIN) is pleased to announce the completion
Resources:(Reserve, P+P): 7.89Mt @ 1.1g/t Au at Cardinia project total
CP/QP:[Overall Report]: Craig Mann (Entech Pty Ltd.)
ABSTRACT:Kin Mining NL (“Kin” or “Company”) (ASX:KIN) is pleased to announce the completion of the Pre-Feasibility Study (“PFS”) for the Company’s 100% owned Cardinia Gold Project (“CGP” or the “Project”) in the NorthEastern Goldfields of Western Australia. The 2019 PFS confirms the CGP as being both technically sound and capable of generating solid free cash flows with significant leverage to the Australian dollar gold price. The CGP is comprised of a 414km2 tenement position in the Minerie Greenstone Belt which captures more than 45km of the Minerie Formation (Figure 1). The Kin tenement holding is divided into the central Cardinia region, the southern Raeside region and the northern Mertondale region. The PFS is based on two open pit mining centres at Cardinia and Mertondale which supply a 1.5Mtpa conventional CIL processing plant centrally located at Cardinia. The PFS is based on an Ore Reserve Estimate of 7.9Mt @ 1.1g/t Au for 283koz (Table 1) and a Production Estimate of 11.4Mt @ 1.09g/t Au for 398koz which delivers a forecast 368koz of recovered gold. The CGP contains Measured, Indicated and Inferred Mineral Resources of 18.2Mt @ 1.44g/t gold for 841,000oz of contained gold (Table 3). The mining schedule has been prepared by Entech Mining to supply a blend of oxide, transition and fresh ores that will maximise the utilisation of the processing facility. The Project has an initial mine life in excess of eight years, with considerable potential upside from the addition of higher margin ore from successful exploration, acquisitions or corporate transactions.

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