Proactive Investors - Run By Investors For Investors

Kingston Resources defines large areas of high-grade gold at Misima

Geochemical assays have indicated large areas of high-grade gold mineralisation.
Kingston Resources defines large areas of high-grade gold at Misima
The project is on Misima Island in Papua New Guinea’s far east

Kingston Resources Ltd (ASX:KSN) has assayed high-grade gold in geochemical surface trench work at the Ginamwamwa prospect within its wider Misima Gold Project in Papua New Guinea.

The company has also completed an aerial Lidar survey over the larger project area to enhance the drilling and exploration program.

Drilling is ongoing at the Umuna shear zone testing down-dip extensions beneath the existing resource.

Highlighted results from geochemical assays include: 34 metres at 3.19 g/t gold, including 8 metres at 7.96 g/t; 50 metres at 2.06 g/t, including 8 metres at 5.38 g/t; 5 metres at 9.57 g/t; 6 metres at 1.6 g/t; and 10 metres at 1.23 g/t, including 2 metres at 3.99 g/t.

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

Kingston managing director Andrew Corbett said the company’s strategy at Misima was to demonstrate the potential of the existing 2.8-million-ounce resource while defining multiple exploration targets outside of the resource.

Corbett said: “Ginamwamwa is just one of six such targets we are working on.”

“It is a very positive sign for the exploration potential of the island that we are delivering these outstanding results at one of our first targets.

“Ginamwamwa is approximately 2 kilometres south of the Umuna resource and sits adjacent to the historic mill site.

“To be finding mineralisation at this type of grade away from the original resource is a big win.”

“There are a number of exploration targets at Misima and whilst the drilling performance so far has been slower than planned, we are very confident in the resource potential of the project.

“We have broad exploration optionality across Misima reflected by the number of targets identified and the early success at areas such as Ginamwamwa and Ara Creek – this gives us confidence in the outlook for the project.”

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

Misima has a production history of over 3.7 million ounces and further potential for resource growth.

Kingston holds 70% of Misima as well as being 75%-holder of the 50,000-ounce Livingstone Gold Project in WA, where high-grade historic intersections have been drilled.

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