Proactive Investors - Run By Investors For Investors

Kingston Resources finds visible gold-bearing veins at prospect near Misima Gold Project

The gold-bearing veins may be a newly-recognised style of mineralisation at Misima.
Kingston Resources finds visible gold-bearing veins at prospect near Misima Gold Project
Visible gold found in channel sampling at the Ginamwamwa prospect

Kingston Resources Ltd (ASX:KSN) has found two visible gold-bearing veins near-surface in trenching and mapping work at its Ginamwamwa prospect in Papua New Guinea.

Ginamwama is within the southern area of Kingston’s flagship Misima Gold Project, adjacent to the historical Placer mill and 2 kilometres south of the Umuna resource.

The company previously had defined 500 metres of strike at the prospect and the newly-discovered gold-bearing veins are of a style of mineralisation not previously identified at Misima.

READ: Kingston Resources finds up to 8.45 g/t at historic Ara Creek mine in PNG’s Misima North

Kingston managing director Andrew Corbett said Ginamwamwa was developing into an outstanding discovery.

“To date we have explored from the haul road more than 500 metres to the east and this has yielded very positive results.

“It’s also important to remember that sampling is yet to be done on the western side of the road, so the final size of this discovery remains untested.

“Current access to Ginamwamwa is from the historical mine roads developed by Placer, allowing easy access to continue exploration work and ultimately drilling at the prospect.”

READ: Kingston Resources back to drilling at Livingstone Gold Project

Ginamwamwa remains open to the west and further mineralisation is being identified by ongoing mapping to the east.

Mapping and sampling will continue to move eastward and Kingston is confident this will broaden the scale of the prospect.

The company has collected over 600 channel samples with assays still pending and intends to generate drill targets for 2019.

READ: Kingston Resources’ results confirm high-grade gold zones at Livingstone project

The visible gold observed is associated with ferruginous oxidised quartz veins outcropping in channels excavated by Kingson’s exploration team.

Visible gold is rare and the Umuna mineralisation is categorised as a low-sulphidation epithermal.

Observations of coarse visible gold in quartz veins with a sulphide association at Ginamwamwa are thus an unusual phenomenon for the project.

Ginamwamwa is outside of the Umuna Fault Zone which contains the bulk of the current 2.8 million-ounce Misima JORC resource.

View full KSN profile View Profile

Kingston Resources Ltd Timeline

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use