Kingston Resources Limited’s (ASX: KSN) latest diamond drill core assays results from Resource definition drilling at the Ewatinona deposit, part of the 2.8Moz Misima Gold Project in PNG, have returned significant zones of mineralisation.
Results include:
- 0m @ 2.16g/t Au, including 7m @ 3.83g/t Au;
- 5m @ 1.26g/t Au, including 10.5m @ 1.43g/t Au from 146m;
- 0m @ 1.35g/t Au from 42m;
- 0m @ 1.19g/t Au, including 2m @ 1.70g/t Au from 40m;
- 4m @ 1.27g/t Au from 96m; and
- 1m @ 2.47g/t Au from 55m.
Managing Director Andrew Corbett said these latest results complement previously-reported positive assays from the three initial holes in the drilling programme which returned high-grade intersections including:
- 2m @ 3.68g/t Au from 10m, including 4.2m @ 2.03g/t Au; and 4m @ 7.15g/t Au, including 1.4m @ 18.58g/t Au;
- 6m @ 1.44g/t Au from 111.6m; and
- 6m @ 1.18g/t Au from 49.6m.
Mr Corbett said the recently completed Resource definition drilling campaign at Misima was designed to define potential shallow starter pit mineralisation to provide mill feed in the early stages of the proposed Misima mining operation.
He said starter-pit ore offers the opportunity to generate early cash-flow for Kingston while it establishes access to the larger-scale 2.6Moz Umuna Resource.
The latest results come from drill holes situated within the existing 220koz Ewatinona Inferred Mineral Resource area , with drilling designed to confirm existing mineralisation and test the revised structural interpretation as well as potential depth extension.
Mr Corbett said it is anticipated that the results from the drilling program will provide increased confidence in Resource modelling, while also highlighting the potential for additional ounces given the limited density of historical drilling.
A recent structural study of historical data and pit mapping has also delineated two main trends of mineralisation at the existing Ewatinona pit.
Mr Corbett said drade distribution in 3D blast hole datasets supports the mineralisation model of gold-rich quartz-carbonate-base metal sulphide breccias and veining within ESE and NW-to-NNW trending structures with crackle breccia haloes.
“Resource definition drilling at Ewatinona continues to deliver excellent drilling results that are expected to have a positive impact on the impending Resource update,” Mr Corbett said.
“As announced on 30 March 2020, the Resource definition programme within the Quartz Mountain area is now complete, with a number of final assays still awaited. These will all be incorporated into the broader Misima Mineral Resource update due in the June Quarter.
“The company has made excellent progress with its development strategy over the last six months, identifying and drill-testing a number of potential starter pit targets
“Ewatinona is now clearly emerging as an ideal opportunity for a starter pit, with an existing 220koz Resource, strong potential for growth, and proximity to infrastructure.
“The impending Resource update will help us to validate this concept ahead of the transition to mining studies over the balance of 2020.”
