Proactive Investors - Run By Investors For Investors

Kingston Resources finds large low-grade gold stockpile at Misima project in PNG

The company has set an exploration target for the dump of 3.6 million tonnes at 0.5 to 0.7 g/t gold for 58,000 to 81,000 ounces.
Gold on a table of elements tablet
Historic records suggest potential for further gold stockpiles to be found

Kingston Resources Ltd (ASX:KSN) has used a Light Detection and Ranging (LiDAR) survey to confirm the location of a large gold stockpile at its Misima project in Papua New Guinea.

The survey provided a highly accurate and detailed model of surface terrain, which helped identify historical mining topography, and current and historical artisanal mining, as well as potential geological features and water drainage patterns.

The information is expected to assist and enhance the broader drilling and exploration program.

LiDAR image of the Cooktown stockpile

READ: Kingston Resources intersects high-grade gold at Misima Gold Project in Papua New Guinea

A stockpile of mineralised material was discovered at Cooktown Dump, a large area adjacent to the Tonowak Pit, which contains 3.6 million tonnes of low-grade material average 0.5 to 0.7 g/t gold.

This dump remains intact with its position matched against mine survey files created during mine closure by previous mine operator Placer.

The company’s exploration strategy is now focused on discovering and defining near-surface satellite mineralisation at prospects including Ginamwamwa, Quartz Mountain and Ara Creek.

Adding near-surface resources is likely to enhance the economic potential of any possible future mining operation.

The proximity and minimal mining costs of this stockpile material make it an excellent early feed source to any future development plan.

View full KSN profile View Profile

Kingston Resources Ltd Timeline

Related Articles

West Musgrave project in Western Australia on a map
JV partners CZI and Oz Minerals aim to confirm the West Musgrave project's potential with a Nebo-Babel PFS.
A Western Australian map
March 15 2019
Its new CEO has brought new vigour to the company with cash for a buy-up.
lithium in periodic table
December 31 2018
Ironridge has an extensive West African and Australian exploration portfolio

© 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