Kin Mining NL (ASX:KIN) has received strong results including a bonanza-grade of 4 metres at 113 g/t from 0 metres in recent aircore and reverse circulation (RC) drilling at Cardinia Gold Project near Leonora in Western Australia.
Assays have been received for 12 of a total of 19 RC holes for 1,803 metres and 104 aircore holes drilled for 4,224 metres at the Comedy King deposit, as well as 51 of a total 64 aircore holes drilled along the Faye Marie trend for 2,410 metres.
The 113 g/t intersection was in an aircore hole with strong RC results from Comedy King including:
- 2 metres at 8.10 g/t from 37 metres (RC),
- 3 metres at 1.50 g/t from 70 metres (RC), and
- 2 metres at 1.98 g/t from 7 metres (RC).
At Faye Marie best results are 8 metres at 3.01 g/t from 36 metres and 4 metres at 1.29 g/t from 20 metres.
Assay results are pending for the remaining seven RC holes from Comedy King and 13 aircore holes from Faye Marie.
“Exceptionally high gold grades”
Managing director Andrew Munckton said: “Our exploration-driven strategy at the Cardinia Gold Project is continuing to gather momentum, with the latest batch of results demonstrating the potential for a large and coherent gold system extending from Faye Marie to Black Chief in the south and across to Comedy King.
“The bonanza-grade intercept of 4 metres at 113 g/t from surface is a standout for aircore drilling and clearly demonstrates the potential for exceptionally high gold grades at the Cardinia Project.”
Shares have been as much as 22% higher to 14 cents and are up from 5.2 cents at close on April 30.
Collar locations and assay results from the Comedy King and Faye Marie RC and aircore drilling programs
Further exploration is planned for the area, which is one of several emerging greenfields discoveries at Cardinia.
Munckton said: “We are also developing a clearer understanding of the orientation and controls of the mineralisation in the Comedy King-Faye Marie Black Chief corridor, and this area will be one of a number of areas to follow up in our next phase of drilling.
“In the meantime, a significant number of assay results are still in the pipeline from Cardinia Hill and Lewis East.
“We expect to receive these results over the next week or so with the objective of wrapping up all of the results from this phase of drilling by early June and planning our next exploration campaign thereafter.”