Kin Mining Ltd (ASX:KIN) has received highly encouraging results from Hobby prospect at Cardinia Gold Project (CGP) near Leonora, Western Australia, with phase 3 drilling outlining a large zone of shallow mineralisation.
Assays have been received for 24 reverse circulation (RC) holes in the phase 3 program, including 15 holes at the Hobby prospect, four at Black Chief and five at Faye.
At Hobby, a shallow zone of mineralisation has been delineated over a 500-metre strike length with all new intersections outside the current inferred resource of 100,000 tonnes at 2.1 g/t gold for 8,000 ounces.
Best results are 6 metres at 2.41 g/t from 22 metres and 5 metres at 3.72 g/t from 74 metres.
Phase 3 drilling continues to make strong progress with three rigs operating and the company is planning further drilling at Hobby and across the CGP.
Focused on finding new areas
Managing director Andrew Munkton said: “Phase 3 drilling is continuing to make excellent progress, with the latest batch of results highlighting the potential of the Hobby prospect as a significant focus for follow-up exploration and drilling aimed at expanding the existing resource of 8,000 ounces at 2.1 g/t.
“Our strategic focus is to find new areas outside of the known deposits capable of delivering shallow resources at good grade and Hobby certainly ticks every box in that respect.
“We have intersected consistent high-grade mineralisation (up to 5.64 g/t) over a 500 metres strike length, with the mineralisation remaining open to the south.
“Drilling has also hit a new parallel zone to the west which requires further investigation.”
Further drilling to expand resource
Munckton continued: “Further drilling is required to in-fill and expand the existing Hobby resource, while also further evaluating the parallel structure to the west.
“RC and diamond drilling is planned prior to estimating a new resource that will form part of our project-wide mineral resource update due later this year.
“In the meantime, drilling is continuing at full pace with an aircore, RC and diamond rig currently operating across the project.
“This should ensure a consistent steady flow of results over the coming weeks.”
Other notable assays at Hobby include:
- 2 metres at 2.43 g/t from 84 metres;
- 3 metres at 1.45 g/t from 71 metres;
- 2 metres at 5.64 g/t from 17 metres; and
- 13 metres at 1.30 g/t from 46 metres.
Black Chief results include 1-metre at 2.84 g/t from 48 metres and 1-metre at 1.46 g/t from 33 metres.
Assays at Faye Marie include 1-metre at 4.28 g/t from 61 metres and 1-metre at 2.93 g/t from 76 metres as well as 2 metres at 1.83 g/t from 40 metres.
Phase 3 drilling continues in full swing with aircore and RC rigs operating across the Helens East, Pelsart and East Lynne prospects and diamond drilling in progress at Cardinia Hill.