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Kin Mining NL
Summary
| Project: | Leonora | |
|---|---|---|
| Deposit: | Mertondale 3-4 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 1/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-1-2017: Kin Mining NL announces an Exploration/Drilling Update report for its Mertondale 3-4 deposit at the Leonora project. Drilling results incl. 37m @ 3.0g/t Au from 142m. Kin Mining NL (ASX: KIN) is pleased to report further strong 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 report further strong drilling results from the Mertondale 3-4 deposit, part of its 100%-owned Leonora Gold Project in WA, where in-fill and extensional drilling has returned impressive new results including a wide intercept of 37m grading 3.0 g/t Au including a high-grade zone of 6m @ 10.7 g/t Au. Reverse Circulation (RC) drilling has returned further significant wide gold intersections both from inside and outside the current Pre-Feasibility Study (PFS) pit design at Mertondale 3-4, reinforcing the potential both to increase and upgrade the existing Mineral Resources. The latest results from Mertondale 3-4 continue to confirm grade continuity and the structural interpretation, with the mineralisation remaining open at depth and along strike. The ongoing drilling program at the Leonora Gold Project is designed to increase the gold resources and upgrade the Inferred Resources to the Indicated category for inclusion in the current Definitive Feasibility Study (DFS), which is on track for completion by mid-2017. The addition of the latest campaign of drilling, comprising drill holes MT16RC027-036 for an advance of 1,645m, has the potential to increase the mining volumes and the gold inventory at the Mertondale 3-4 deposit. 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. Kin’s mine plan includes an extension or cut-back to the south of this historical pit, with the recent drilling designed to evaluate this southern pit extension (Figure 1 and 2). | |
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