Kin Mining NL’s (ASX:KIN) (FRA:8KM) Iron King Project near Leonora in Western Australia has the potential to emerge as a new greenfields discovery after the company received strong new assay results from recent aircore drilling.
The drilling, together with multi-element soil geochemistry, has confirmed the potential of the Iron King Project, a potential satellite project 45 kilometres north of Leonora.
The company plans to follow-up in parallel with its other exploration priorities at the flagship Cardinia Gold Project (CGP).
Encouraging results for early stage
Kin Mining managing director Andrew Munckton said: “A program of broad-spaced aircore drilling has delivered initial encouraging results from the Axford target at the Iron King satellite project.
“Mineralisation associated with east-west striking and south-dipping quartz veins and breccia zones in mafic rocks shows strong visual similarity to the vein systems mined at both the nearby Victory workings and the historical open pit excavation at Iron King.
“These are very encouraging results for this early stage of exploration and confirm that we have discovered extensions to historical RAB and RC drilling intercepts and confirmed a parallel zone of mineralisation at Axford, upgrading the potential of this target as a focus for follow-up exploration this year.
“We are looking forward to confirming the continuity of the Axford mineralisation by undertaking further in-fill air-core drilling at 200m line spacing.
In addition, the strike extensions of the Iron King Open pit have been confirmed with soil geochemistry and present a compelling, walk-up drill target for the second phase of work."
Report from CGP in coming weeks
Munckton added: “We plan to commence this follow-up work in the June 2021 quarter, given the significant number of other exploration priorities we need to attend to at Cardinia in the first quarter of 2021.
“We expect to report a significant number of assays from Cardinia in the coming weeks as we progressively receive results from drilling completed prior to Christmas.”
Axford aircore lines
Kin Mining completed a 4,152-metre aircore program on four lines at nominal 400 metres line spacing at Axford, in the north-eastern sector of the Iron King Project, targeting strike extensions of the existing mineralisation and parallel zones of mineralisation highlighted in the 2020 soil geochemical program.
Significant results have been received from several lines at the target. They include:
➢ 16 metres at 0.93 g/t gold from 56 metres;
➢ 6 metres at 1.91 g/t from 40 metres;
➢ 4 metres at 2.08 g/t from 40 metres;
➢ 4 metres at 2.19 g/t from 0 metres;
➢ 4 metres at 1.50 g/t from 56 metres; and
➢ 16 metres at 0.49 g/t from 24 metres.