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Kingston Resources Ltd.
Summary
| Project: | Misima | |
|---|---|---|
| Deposit: | Misima | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver | |
| Date: | 5/21/2020 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-5-2020: Kingston Resources Ltd. announces a Resource Estimation report for its Misima deposit at the Misima project. Updated Mineral Resource Estimate for Project. Kingston Resources Ltd (ASX: KSN) is pleased to report a significant increase in the JOR | |
| Resources: | (Resources, I+I): 105.5Mt @ 0.93g/t Au, 5.4g/t Ag | |
| CP/QP: | [Resource] Stuart Hayward (Internal) | |
| ABSTRACT: | Kingston Resources Ltd (ASX: KSN) is pleased to report a significant increase in the JORC 2012 Mineral Resource Estimate for its flagship Misima Gold Project, PNG, incorporating the results of recent successful drilling programs and updated gold price assumptions. The updated Misima Resource has delivered a 15% increase in total gold ounces and 30% increase in total silver ounces and now comprises an Indicated and Inferred Mineral Resource of 105.5Mt @ 0.93g/t Au and 5.4 g/t Ag for 3.2Moz Au and 18.2Moz Ag, (see Table 1), confirming the Project’s status as one of the most significant mid-tier gold development opportunities in the Asia-Pacific region. Kingston commenced drilling at Misima in June 2018 with 49% equity ownership in the project, the Company has since increased its equity ownership to 80.5% and has a non-binding agreement to move to 100% ownership. Early work highlighted that a starter pit would considerably enhance project economics. With this in mind, the exploration strategy has focused on near-surface opportunities, and the Company can now confirm Ewatinona as the intended starter pit for Misima. | |
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