viewKingston Resources Ltd

Kingston Resources restarts diamond drilling at Misima Gold Project with two rigs remobilised

The 8,000-metre drilling program includes resource infill and extensional drilling at the south-eastern end of the proposed Umuna pit and follow-up drilling at Abi-Kila discovery.

Kingston Resources Ltd - Kingston Resources re-starts diamond drilling at Misima Gold Project with two rigs mobilised at site
Misima's pre-feasibility study has entered its final stages and is on track for completion in the current quarter

Kingston Resources Ltd (ASX:KSN) has restarted diamond drilling at Misima Gold Project in PNG with two rigs remobilised following the lifting of COVID-19 related travel restrictions.

Initial drilling will focus on the Kulumalia area at the south-eastern end of the modelled Umuna pit shell, which is expected to form the backbone of the company’s proposed future mining operation.

Drilling at Kulumalia will target resource conversion within the current pit shell as well as testing high-grade near-surface mineralisation for potential inclusion in early-stage mine production schedules.

Follow-up drilling will also be conducted at the Abi-Kila discovery at Ewatinona to further test the previously defined high-grade mineralisation.

Abi forms a high-priority drill target as it lies in close proximity to the Ewatinona resource, which will provide the bulk of early-stage feed for the processing plant.

Additional ounces defined close to surface in this area have the potential to positively influence the economics of the project and provide upside potential.

Goal to bring project back to production

Managing director Andrew Corbett said: “We are delighted to have our team at Misima back on the ground with the drill rigs turning again, working towards our goal of bringing the Misima Gold Project back into production.

“The Kulumalia area is a compelling target that represents the south-eastern extension of our main Umuna deposit and offers strong potential for resource upgrade and expansion, and we are also looking forward to further testing the exciting emerging discovery at Abi-Kila.

“While drilling was not possible under prior COVID-related border restrictions, Kingston has been able to push ahead with work on a number of other fronts.

Finalising PFS work

“We delivered an updated mineral resource estimate in May, we are now finalising the Misima pre-feasibility study and we have also been able to construct a purpose-built sample preparation laboratory on site.

“This on-site lab is expected to reduce costs and significantly improve assay turnaround times, which will provide both operational benefits and timely news flow.

“I would like to thank our Misima team for sticking with us during what has been a challenging time in PNG - we are grateful to have everyone back in action, and we look forward to further advancing the Misima Gold Project, with the next major milestone being the completion of the PFS, which is anticipated this quarter.”

Next steps

With the Misima PFS nearing completion, alongside the planned resource definition and exploration drilling, operations on site are now transitioning towards preparation for feasibility studies and project approvals.

Shares have been as much as 8% higher to 27.5 cents intra-day.

Quick facts: Kingston Resources Ltd

Price: 0.29 AUD

Market: ASX
Market Cap: $66.86 m

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