Join our daily newsletter At The Bell to receive exclusive market insights
- Kin Mining (KIN) confirms Mt Flora prospect as a significant new gold discovery 20 kilometres east of the Cardinia Gold Project in WA
- The company has received a fresh batch of results from a follow-up aircore drilling program which has returned 22 metres at 8.96g/t gold from 24 metres
- Kin has drilled a single hole beneath this intercept which intersected sulphide mineralisation and indicates a potential gold system
- When drilling resumes next month, the company will focus on this area to follow up on its potential
- Kin Mining ended the day with shares trading steady at 10.5 cents
Kin Mining (KIN) has reported the last set of results from a recently completed aircore drilling program at the Cardinia Gold Project in Western Australia.
The follow-up aircore drilling program was completed in July and comprised 268 holes for 10,763 metres.
Today’s results include shallow intercepts from the eastern and northwestern zones at the Mt Flora prospect which have confirmed the extent of the near-surface mineralisation.
Latest assays include four metres at 1.01 grams of gold per tonne (g/t) from 48 metres and four metres at 1.02g/t gold from 24 metres located along strike from hole MF21AC522, which intersected 22 metres at 8.96g/t gold from 24 metres and eight metres at 2.79g/t gold from 28 metres.
Kin also drilled a single diamond hole to test the primary zone beneath MF21AC522.
While assays are pending, the drill hole intersected two zones of sulphide mineralisation which the company said suggests there’s a significant primary gold system beneath the 700-metre long eastern zone mineralisation.
Managing Director Andrew Munckton was pleased with the new results.
“We now have sufficient confidence to say that Mt Flora is confirmed as a significant new gold discovery 20 kilometres east of the main Cardinia Gold Project,” he said.
“Because of the high-grade results generated and the continuous nature of the gold mineralisation at the Eastern Zone, this is where we plan to focus our drilling efforts when drilling resumes in October.”
The company will test the 700-metre strike length to support a maiden mineral resource estimate before moving onto the North Western Zone.
Kin Mining ended the day with shares trading steady at 10.5 cents.
