Kingston expects Mineral Resource update by mid-year
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Phase 2 Resource definition drilling at Kingston Resources Limited’s (ASX:KSN) Ewatinona deposit has started well.
Ewatinona is part of the Quartz Mountain region, home to Kingston’s 2.8Moz Misima Gold Project in PNG.
Drilling has so far delivered encouraging high-grade results from the first three drill holes.
Highlights from drilling at Ewatinona include:
- 10.2m @ 3.68g/t Au from 10m, including:
O 4.2m @ 2.03g/t Au; and
O 4m @ 7.15g/t Au, including 1.4m @ 18.58g/t Au
- 11.56m @ 1.44g/t Au from 111.6m
- 15.6m @ 1.18g/t Au from 49.6m
- 10m @ 0.91g/t Au from 40m, including:
O 6m @ 1.16g/t Au
- 6m @ 2.46g/t Au from 4m
Results from this program will underpin an update to the Mineral Resource, ahead of the commencement of feasibility studies for the Misima Gold Project.
Holes GDD066, GDD068 and GDD070 are the first drill holes undertaken since Kingston completed its Phase 1 drilling program in 2019.
Phase 1 confirmed the style of mineralisation, tenor of grade, and intersected new mineralised structures outside of the existing Mineral Resource.
Phase 2 is targeting infill between historical drilling, potentially mineralised zones outside and below the US$1400 pit shell that constrains the current Mineral Resource, and along-strike extensions of mineralised structures interpreted from surface geochemistry.
“This represents a very strong start to our Phase 2 drilling program at Ewatinona, which is aimed at upgrading and potentially expanding the existing 220,000 ounce Inferred Resource,” said Kingston Managing Director, Andrew Corbett.
“Following the excellent results we’ve recently reported at Misima North and Umuna East, we are pleased to be delivering drilling success across all three of the potential starter pit areas we’ve identified, putting us well on track with our clearly defined strategy of identifying shallow mineralisation to provide early mill feed at Misima.”
Read: Kingston has early stage success at Misima North
Read: Kingston Resources has further drilling success at Misima Gold Project
KSN has picked up the pace of its drilling program as it looks to improve its Mineral Resource.
“Drilling results will feed into a Mineral Resource update that we expect to deliver mid-year, which will then form the foundation for a Pre-feasibility Study which we hope to deliver by year-end," Corbett said.
“Drilling within the Quartz Mountain area is expected to continue throughout the current quarter, including some eagerly anticipated follow-up holes at the Abi discovery, where our previous drilling returned 23.6m @ 2.91g/t Au from 7.4m.
“While this drilling is ongoing, we will also assess the full suite of recent results from Misima North, Umuna East and Quartz Mountain to determine key priorities for further drilling.”
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
