Kingston has further success at Quartz Mountain
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
Kingston Resources Ltd (ASX:KSN) has reported promising results from the final drill hole at the key Ewatinona deposit, adding to prior Ewatinona drilling results which confirmed the presence of high-grade gold mineralisation outside the existing resource area.
Consequently, this drilling campaign has not only confirmed the strong grades traditionally associated with the area, but it has also paved the way to expand the resource beyond its already impressive level.
Ewatinona is located within the Quartz Mountain area of the 2.8 million ounce Misima Gold Project and contains a JORC 2012 Inferred Resource of 6.6 million tonnes at 1.0g/t gold for 220,000 ounces gold.
It is one of a number of areas to be drilled this year as part of an ongoing exploration program aimed at defining shallow, high-grade gold mineralisation with the potential to contribute early ounces to future mining studies.
The Placer group historically mined gold and silver from the Ewatinona, Kobel and Maika pits, producing a combined 147,000oz at 1.77g/t gold.
The current Ewatinona Resource is located less than two kilometres from the historical mill site, making it ideally situated to provide additional feed for a staged recommencement of production.
Quartz Mountain holds further potential
Having completed an initial 12-hole drilling program at Ewatinona in July 2019, which delivered a series of highly-encouraging assay results and confirmed that the resource remains open in all directions, this area is shaping up as a possible game changer.
Promising results from the 12-hole campaign included the final hole which featured 15.7 metres at 1.6 g/t gold from a shallow 40 metres, including 7 metres at 3.2 g/t gold.
There have been some broader quality grade intersections, including 20 metres at 1.8 g/t gold from 78 metres.
Drilling continues on a second target in the Quartz Mountain area, the Waipuna prospect, which was recently identified by a modern reinterpretation of historical geochemical data combined with geophysics and LiDAR information.
On the back of this news, the company is looking to ramp up exploration with a view to increasing the Mineral Resource, and on this note, managing director Andrew Corbett said, “Following interpretation of these latest results and the successful placement of the shortfall from our rights issue, we intend to mobilise a second drill rig to this area to conduct additional infill and extension drilling to underpin an updated Mineral Resource Estimate.
“Drilling is continuing on additional targets within the Quartz Mountain area, with Stage 1 now nearing completion, following which we expect to move to Misima North and Umuna East Side.
“Our exploration strategy remains firmly focused on establishing sufficient near-surface ounces from these targets to commence mining studies.”
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.
