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Kingston Resources intersects shallow gold in third area at Misima Gold Project

The recent drilling results highlight a third area yielding gold mineralisation as part of the company’s strategy to define early mill feed.

Kingston Resources Ltd - Kingston Resources intersects shallow gold in third area at Misima Gold Project
The results are expected to contribute towards a potential upgrade and extension of the resource at Umuna East

Kingston Resources Ltd (ASX:KSN) has intersected shallow gold mineralisation in diamond drilling at the Umuna East area within the Misima Gold Project in Papua New Guinea.

The recently completed 13-hole program was drilled to 1,373 metres and confirmed the presence of gold close to the surface and continuing at depth at Umuna East, which is 500 metres east of the historical Umuna pit and within the existing inferred resource.

Highlights include:

  • 12 metres at 1.31 g/t gold from 2 metres;
  • 14.6 metres at 0.96 g/t from 11.4 metres, including 3.6 metres at 1.59 g/t and 3 metres at 1.11 g/t;
  • 6 metres at 2.32 g/t from 80 metres;
  • 4 metres at 1.11 g/t from 37 metres; and
  • 10 metres at 0.96 g/t, including 4 metres at 1.5 g/t from 28 metres.

Following positive results at Misima North and Quartz Mountain, Umuna East represents a third success in ongoing exploration to identify areas of shallow mineralisation for potential, early-stage starter pit ore.

Potential for early mill feed

Managing director Andrew Corbett said, “This is another important step towards our objective of delineating multiple areas of shallow mineralisation which can underpin potential starter pits at Misima.

“It is a credit to the Kingston exploration team that we now have three areas each with strong potential to provide early mill feed as part of our Misima development strategy.

“The exploration success in each of these areas also demonstrates the under-explored nature of Misima Island despite the extensive mining history and large-scale resource we already have in place.

Misima Gold Project regional target map

“Looking ahead, drilling activity is now focused on the stage II drilling program back in the Quartz Mountain area, in particular Ewatinona and Abi, as we look to upgrade and potentially expand the inferred resource in that area.

“Following that program, we then plan to return to Misima North and Umuna East for stage II drilling.”

Kingston is drilling the Ewatinona and Abi prospects within the Quartz Mountain area.

Drilling here is expected to contribute to a potential upgrade and possible expansion of the existing 220,000-ounce inferred resource at Ewatinona.

Once completed, it is anticipated that follow-up drilling will be undertaken at Misima North and Umuna East.

Quick facts: Kingston Resources Ltd

Price: 0.245 AUD

Market: ASX
Market Cap: $56.48 m

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Kingston Resources has encouraging new targets at Misima Gold Project in PNG

 Kingston Resources Ltd (ASX:KSN) chief executive officer Andrew Corbett updates Proactive Investors on the favourable drilling targets at the company’s flagship Misima Gold project in PNG. Corbett says Misima is a large project with a 2.8 million ounce resource base, on an island east...

on 1/8/19

2 min read