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Kin Mining NL
Summary
| Project: | Leonora | |
|---|---|---|
| Deposit: | Raeside | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 3-8-2017: Kin Mining NL announces an Exploration/Drilling Update report for its Raeside deposit at the Leonora project. Drilling results incl. 21m @ 3.4g/t Au from 123m. Kin Mining NL (ASX: KIN) is pleased to announce that it remains on track to become a | |
| Resources: | (Resource, I+I): 11.8Mt @ 1.9g/t Au for 721koz Au contained at project | |
| CP/QP: | [Overall Report]: Paul Maher, Simon Buswell-Smith (Internal) | |
| ABSTRACT: | Kin Mining NL (ASX: KIN) is pleased to announce that it remains on track to become a significant new gold producer at its 100% owned Leonora Gold Project (LGP) in Western Australia’s North-Eastern Goldfields. The Definitive Feasibility Study (DFS) is rapidly taking shape and remains on schedule to be released later this quarter. The Company has received strong interest from potential project financiers and expects to move quickly towards a Final Investment Decision once the DFS is published. Further detail on progress with key elements of the DFS is provided below. The Company has completed 43,685m of Reverse Circulation (RC) and 1,745m of diamond drilling, comprising both in-fill and resource extension drilling to support the DFS. Drilling has focused mainly on converting Inferred Resources to the higher confidence Indicated Mineral Resource category. Drilling is now complete and work on an updated Mineral Resource estimate is nearing completion. This has been a comprehensive drilling campaign designed to reduce the resource risk as far as possible and generate a robust mine plan. The completed resource drilling has also identified extensions that will be included in the DFS as well as significant ‘walk-up’ exploration targets. Kin has completed verification drilling at Raeside as part of the DFS. The Michelangelo and Leonardo deposits are a substantial component of the LGP, with a current Indicated Resource of 1.28 Mt @ 2.7 g/t Au containing 111,000 ounces. The resources are based on a substantial historic drilling dataset with Kin’s drilling campaign aimed at verifying its validity. This drilling has increased the level of confidence in the historical dataset. Results have mirrored the existing data by way of grade continuity and position verifying the resource. High grade drill intercepts confirm ore body continuity and consistency. | |
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