THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported further encouraging assay results from ongoing Phase 3 Reverse Circulation (RC) drilling across multiple prospects at the company’s 100 per cent-owned Cardinia gold project near Leonora in Western Australia.
Kin Mining continued to record gold hits of note from a program consisting 24 Reverse Circulation drill-holes, including 15 holes drilled at Hobby, four at Black Chief and five at Faye Marie.
Results include:
Hobby
HB20RC001
6 metres at 2.41 grams per tonne gold from 22m;
HB20RC004
5m at 3.72g/t gold from 74m;
HB20RC003
2m at 2.43g/t gold from 84m;
HB20RC011
3m at 1.45g/t gold from 71m;
HB20RC012
2m at 5.64g/t gold from 17m; and
HB20RC015
13m at 1.3g/t gold from 46m.
Black Chief
BC20RC013
1m at 2.84g/t gold from 48m; and
BC20RC015
1m at 1.46g/t gold from 33m.
Faye Marie
FM20RC065
1m at 4.28g/t gold from 61m and 1m at 2.93g/t gold from 76m; and
FM20RC067
2m at 1.83g/t gold from 40m.
Kin Mining said the drilling continued to highlight the presence of substantial mineralisation outside of the known deposits, reinforcing the substantial exploration upside at Cardinia.
“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 grams per tonne,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.
“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 5.64g/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 is required to in-fill and expand the existing Hobby Resource, while also further evaluating the parallel structure to the west.
“Further 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 air-core, RC and diamond rig currently operating across the project.
“This should ensure a consistent steady flow of results over the coming weeks.”
Email: [email protected]
Web: www.kinmining.com.au
