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Kingston Resources Ltd.
Summary
| Project: | Misima | |
|---|---|---|
| Deposit: | Misima North | |
| Location: | Papua New Guinea | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 1/15/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-1-2020: Kingston Resources Ltd. announces an Exploration/Drilling Update report for its Misima North deposit at the Misima project. Drilling results incl. 8.4m @ 4.55ppm Au, 11.4ppm Ag, 435ppm Cu, 25721ppm Pb, 1304ppm Zn from 23.8m. Kingston Resources | |
| Resources: | (Resource, I+I): 82.3Mt @ 1.1g/t Au, 5.3g/t Ag at Misima | |
| CP/QP: | [Overall Report]: Stuart Rechner (Internal) | |
| ABSTRACT: | Kingston Resources Limited (ASX: KSN) (Kingston or the Company) is pleased to report highly encouraging initial assay results from drilling at the Misima North prospect, part of the 2.8Moz Misima Gold Project in PNG. Due to the experience of some core loss within GDD065, Kingston believes there is potential for a continuous zone of high-grade gold mineralisation between 16.2m and 32.2m down-hole. In order to confirm this, a follow-up drill-hole has been completed and assay results are currently awaited. Kingston Resources Managing Director, Andrew Corbett, said: “We’re delighted to see such encouraging results from one of our first Misima North holes, with these assays confirming the presence of high-grade gold mineralisation 2.5km north of the existing Umuna Resource boundary, and highlighting the prospectivity of the broader Umuna Fault Corridor which hosts both the Umuna and Misima North target areas. The entire 4km strike length of the Umuna Fault Corridor remains largely untested, providing a large, high-quality exploration target for the Company to progressively drill. “Importantly, Misima North represents the second new area discovered by Kingston in recent months, coming after the previously reported discovery at Abi, part of the Quartz Mountain region (see ASX Announcement 17 September 2019). Such successes are a strong credit to the excellent work being done by our geological team in pursuit of our strategy to identify near-surface mineralisation to provide early mill feed for the Misima mine plan. “We currently have two rigs drilling at Ewatinona in the Quartz Mountain area as we look to upgrade and potentially expand the existing Resource in this area, with drilling also planned to follow-up on the initial positive results at Abi. Once those campaigns are complete, we then expect to return to Misima North for a second round of drilling.” | |
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