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Kin Mining NL
Summary
| Project: | Leonora | |
|---|---|---|
| Deposit: | Mertondale | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 11-1-2017: Kin Mining NL announces an Exploration/Drilling Update report for its Mertondale deposit at the Leonora project. Drilling results incl. 21m @ 2.5g/t Au from 95m. Kin Mining NL (ASX: KIN) is pleased to announce further strong RC drilling results | |
| Resources: | (Resource, I+I): 11.83Mt @ 1.9g/t Au for 721Koz Au contained at project | |
| CP/QP: | [Overall Report]: Paul Maher, Simon Buswell-Smith (Not stated) | |
| ABSTRACT: | Kin Mining NL (ASX: KIN) is pleased to announce further strong RC drilling results which point to both an increase and an upgrade in Resources at its Leonora Gold Project in WA. The results of this program, which comprised infill and extensional drilling at the Mertondale 3-4 deposit, will be incorporated into the Project Definitive Feasibility Study which is underway. The drilling was designed to target mineralisation within the current pit design as outlined in the Pre-Feasibility Study (ASX announcement dated December 15, 2016), as well as high-grade extensions below and adjacent to the current pit design (Figures 1 and 2). The key objective was to convert Inferred Mineral Resources contained in the open pit mining plan to the higher confidence Indicated Mineral Resource category as part of the Feasibility Study. The Mertondale 3-4 open pit historically produced an estimated 179,300oz of gold from 1.30Mt of ore at a recovered grade of 4.3 g/t Au. The mine plan includes an extension or cutback to the south of this historical pit. The recent drilling targeted this southern pit extension. The Reverse Circulation (RC) drill program drilled to date comprised a total of 4,528m (MT16RC002-MT16RC038), results are presented for 25 holes (MT16RC002-MT16RC026). Assay results for the remaining holes are expected to be announced as they come to hand. Kin Chief Executive Officer Don Harper said the latest results were very encouraging for two reasons. “The infill drilling confirms the presence of high-grade gold within wide zones of shallow significant gold mineralisation, both within and outside the current pit design,” Mr Harper said. “These infill results will play a key role in upgrading the Resource to the Indicated category as part of the Feasibility Study. The extensional drilling has highlighted the strong potential to significantly grow the inventory and mine life at Leonora, further boosting the economic merit of the project.” | |
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