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Kingston Resources Ltd.
Summary
| Project: | Misima | |
|---|---|---|
| Deposit: | Umuna, Ewatinona | |
| Location: | Papua New Guinea | |
| Commodities: | Gold | |
| Date: | 11/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-11-2017: Kingston Resources Ltd. announces a Resource Estimation report for its Umuna, Ewatinona deposit at the Misima project. Updated Mineral Resource at Misima. Kingston Resources Ltd (ASX:KSN) is pleased to announce the results of a mineral resourc | |
| Resources: | (Resource, I+I): 82.3Mt @ 1.1g/t Au, 5.3g/t Ag for 2.8Moz Au and 13.9Moz Ag contained at Misima | |
| CP/QP: | [Resources]: Scott Andrew McManus (Skandus Pty Ltd.) | |
| ABSTRACT: | Kingston Resources Ltd (ASX:KSN) is pleased to announce the results of a mineral resource estimate for the Misima Gold Project, reported in compliance with the 2012 edition of the JORC Code. The Misima resource contains a total 82.3Mt @ 1.1 g/t Au and 5.3 g/t Ag for a total of 2.8Moz Au and 13.9Moz Ag. This represents a 22% increase in contained gold relative to the recent NI43-101 resource. The resource estimate was completed by Mr Scott McManus of Skandus Pty Ltd, who also reported a Canadian NI43-101-compliant Misima resource for WCB Resources in August 2017. There have been no changes to the project since that estimate was announced. “The Misima Gold Project is a world-class deposit, and this initial JORC resource sets a benchmark for our exploration going forward” commented Kingston’s Managing Director Andrew Corbett. “We believe there is enormous potential to significantly increase the contained ounces from drilling the near-mine extensions, initially focussing on outcropping mineralisation at Umuna East and Misima North. The resource is open at depth, so there is also excellent potential to extend it down dip”. There is an additional 300-800koz Au (10-20Mt at 0.8-1.2g/t Au) of mineralisation within the block model which falls outside the resource, but which is inside the interpreted zones of mineralisation, and is essentially the down-dip extents of interpreted mineralisation beyond the current limits of drilling. This material is only conceptual in nature and there has been insufficient exploration to define a Mineral Resource, it is therefore classified as an Exploration Target under JORC2012. It is also uncertain if further exploration will result in the target being upgraded to a Mineral Resource. | |
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