- Kin Mining (KIN) has begun the week in a trading halt while it inks out the details of a capital raise
- The company will remain in the halt until February 10 or when an announcement is made, whichever occurs first
- On February 3, Kin released results from drilling and gravity survey programs undertaken at its Cardinia Gold Project in WA
- The aim of the gravity survey was to map the position and orientation of buried intrusions, faults and shear zones intersected in 2020
- Interpretation of the results identified seven priority targets which will be further explored
- Kin also received results from its drilling programs at the Pelsart and Cardinia Hill prospects, which aimed to confirm the grade and position of mineralised lodes
- Results peaked at 2.17g/t gold from Pelsart and 1.89g/t gold from Cardinia Hill
- Shares in Kin Mining last traded at 16 cents on February 5
Kin Mining (KIN) has begun the week in a trading halt while it inks out the details of a capital raise.
The company will remain in the halt until February 10 or when an announcement is made, whichever occurs first.
Kin is yet to disclose how much it intends to raise or what it will use the funds for once received.
On February 3, Kin released results from recent drilling and gravity survey programs undertaken at its Cardinia Gold Project in WA.
The aim of the gravity survey was to map, in detail, the position and orientation of buried intrusions, faults and shear zones which were intersected in 2020 drilling programs.
Interpretation of the results identified up to seven new priority targets along the eastern corridor, where Kin believes there is significant potential to discover new zones of high-grade mineralisation.
Kin also received results from its reverse circulation drilling program at the Pelsart prospect and diamond drilling at the Cardinia Hill prospect.
The aim of this work was to confirm the grade and position of mineralised lodes and confirm the controls of the mineralisation.
Results peaked at 2.17g/t gold from Pelsart and 1.89g/t gold from Cardinia Hill.
Shares in Kin Mining last traded at 16 cents on February 5.