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Kingston Resources wraps drill program at Mineral Hill’s Pearse North deposit with high-grade gold plus silver

Last updated: 11:11 28 Jul 2022 AEST, First published: 10:42 28 Jul 2022 AEST

Kingston Resources Ltd - Kingston Resources Ltd wraps drill program at Mineral Hill Mine’s Pearse North deposit, yielding gold and silver results

Kingston Resources Ltd (ASX:KSN)’s final results from a phase one diamond and reverse circulation (RC) drilling program at Pearse North deposit of the Mineral Hill Mine in NSW point to “significant shallow high-grade gold”.

The aim of the drill program, which consisted of five diamond drill holes for 655 metres and 17 RC drill holes for 2,454 metres, was to test the known strike of mineralisation.

Highlights

The drills have stopped turning now and the assay results from five diamond and 17 reverse circulation drill holes tell the story:

  • 12 metres at 3.68 g/t gold and 9 g/t silver from 14 metres including 7 metres at 5.69 g/t gold and 13 g/t silver from 15 metres;
  • 17 metres at 2.7 g/t gold and 11 g/t silver from 15 metres including 11 metres at 4.0 g/t gold and 15 g/t silver from 20 metres; and
  • 8 metres at 5.6 g/t gold and 66 g/t silver from 120 metres including 3 metres at 14.2 g/t gold and 177g/t silver from 125 metres.

These results follow previously reported diamond holes at Pearse North, which delivered:

  • 39 metres at 4.2 g/t gold and 37g/t silver from 37 metres including 3 metres at 26.7g/t gold and 27g/t silver from 38 metres;
  • 10 metres at 6.0 g/t gold and 33 g/t silver from 72 metres;
  • 3 metres at 5.5 g/t gold and 55 g/t silver from 55 metres; and
  • 4.3 metres at 2.4g/t gold and 16 g/t silver from 142 metres.

Drilling confirmed that the structures controlling gold-silver mineralisation at Pearse North remain continuous down dip and along strike, with new mineralised structures identified on the western and eastern margins of the system.

MRE expected in August

Results from the program and a revised geological model will inform ongoing work at Pearse North, including a mineral resource estimate (MRE) planned for August.

This will be followed by an ore reserve update, mine design studies and mine planning, which all form part of a development plan to deliver a more-than-five-year mine life at Mineral Hill.

Kingston Resources managing director Andrew Corbett said: “Kingston’s chief geologist Stuart Hayward and his team are continuing to deliver positive results at Pearse North.

"Encouragingly, a number of extensions to existing mineralisation have been identified, while the planned development pathway of the Pearse pits and the SOZ underground continues to advance.

"The next step in the development process will be an updated mineral resource estimate at both Pearse North and Pearse South, anticipated next month. This, and several parallel work programs, will help to consolidate the planned development pathway of the Pearse pits and the Southern Ore Zone underground.

"Importantly, the shallow gold-silver mineralisation defined in our drill program at Pearse potentially provides a seamless transition of mill feed on completion of the current tailings processing operation.

“The balance of the results from Southern Ore Zone, Jacks Hut and Missing link drilling are anticipated to be received shortly, we look forward to providing the market with further updates.”

Kingston Resources makes significant near mine discovery at Mineral Hill

Kingston Resources Ltd (ASX:KSN) MD Andrew Corbett tells Proactive the company has discovered two significant new mineralised structures east of the existing Southern Ore Zone (SOZ) mineral resource, potentially expanding the company's life of mine inventory at the Mineral Hill copper-gold mine...

on 2/11/23