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Kin Mining chairman demonstrates faith in company through on-market purchase

The company’s focus is on exploration targeting new, high-value, higher-grade gold discoveries and prioritising areas close to the proposed Cardinia processing plant.

Kin Mining NL - Kin Mining chairman demonstrates faith in the company’s mining strategy with purchase of shares on-market
The Cardinia Gold Project is in the highly prospective North-Eastern Goldfields region of Western Australia

Kin Mining NL (ASX:KIN) chairman Joe Graziano has demonstrated his faith in the company's gold startegy with the purchase of shares in an on-market transaction.

Graziano acquired 250,000 shares on September 15 at 16.3 cents per share in an indirect interest.

This increased the total number of securities held in this interest to more than 7.722 million with another 2,627,680 shares held in another indirect interest.

Results point to large sulphide system

The company’s new East Lynne aircore (AC) drilling results point to a large mineralised sulphide system over a 3.2-kilometre strike length within the Cardinia Gold Project (CGP) in WA.

East Lynne trend is around 3 kilometres northeast of the proposed plant site at the CGP and is a large greenfields gold target identified over the past 12 months as a result of systematic exploration work by Kin’s geological team.

The company has received assays for Lines 7 and 8 of the recently completed 15,000 metre AC program, which consisted of 14 lines of drilling at nominal 400-metre line spacing targeting a 6-kilometre-long multi-element soil geochemical anomaly.

Notable intersections include 5 metres at 35.1 g/t gold from 40 metres with the hole ending in mineralisation.

Quick facts: Kin Mining NL

Price: 0.225 AUD

Market: ASX
Market Cap: $157.5 m

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Kin Mining MD updates on development of Cardinia gold project near Leonora

Kin Mining NL (ASX:KIN) managing director Andrew Munckton updates Proactive Investors on development of the Cardinia gold project, near Leonora in Western Australia. Results from 16 of 51 holes drilled at both the Lewis and Helens prospects have been released so far. Munckton says,...

on 20/2/19

2 min read