Sign up Australia
Proactive Investors - Run By Investors For Investors

Kin Mining identifies new targets for drilling at Leonora Gold Project

These new targets fit the geological models of large (+500,000 gold ounces) deposits in the Leonora-Laverton region.
project area
Work to advance new targets towards drill testing is underway

Kin Mining NL (ASX:KIN) has identified new targets with no history of previous exploration through geological mapping at its Leonora Gold Project (LGP) in Western Australia.

A project-wide targeting program is being undertaken in parallel with exploration and drilling at the main mining centres of the LGP – Cardinia, Mertondale and Raeside – along with the ongoing development studies to deliver the LGP to a lower risk development decision in 2019.

Historical high-grade mining areas

Gold exploration within the project area has been sporadically undertaken for more than 30 years, although activity outside the known orebodies has been limited, particularly in the past 20 years.

Kin has completed a comprehensive, detailed mapping and target generation work program over the core of the LGP tenure.

It has identified a number of new targets in covered terrain and reinterpreted historical high-grade mining areas with modern mineralised system thinking.

Moving towards a development decision

Kin managing director Andrew Munckton said: “Developing our understanding of the wider exploration potential of the LGP is an important pillar to generate more value for shareholders.

“The work completed to date has successfully identified prospective new areas which will be progressed towards drilling in 2019 as we remain focussed on our key objectives of expanding resources and delivering the LGP to a lower risk development decision point.”

READ: Kin Mining outlines $10.4 million rights issue for Leonora Gold Project

Kin is opening a 2:5 rights issue priced at 8 cents on October 22, 2018 to raise up to $10.4 million for accelerated exploration of new targets with the potential to deliver further significant resource growth at the LGP.

The funds will help Kin move LGP towards a revised feasibility study in late 2019 that can define a robust and attractive project development case.

READ: Kin Mining adds 33,900 ounces from Helens to gold bounty at Leonora

Kin’s recent drill program on, and review of, the Helens' deposit resulted in a 92% increase in Helen’s JORC resource.

The company plans to continue with the drilling programs that are delivering these JORC resource estimate upgrades.

Work is underway to update the Lewis deposit with plans to recommence drilling at the Helens, Lewis, Bruno and Mertondale deposits.

View full KIN profile View Profile

Kin Mining NL Timeline

Related Articles

maps of the Torrens Copper Project in South Australia
March 20 2018
The company's shares have increased six-fold from their low of 0.6 cents in 2017.
map of project area
March 26 2018
The prospect of an IOCG deposit, similar to Olympic Dam, has ignited interest in the stock.
July 13 2018
AfriTin listed on AIM with plans to position itself as the African tin champion

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

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