- Kin Mining (KIN) has released assay results from a recent bout of drilling at its Cardinia Gold Project alongside results from a gravity survey of the area
- The junior explorer said the survey revealed seven new priority targets along the Eastern Corridor of Cardinia
- Kin now plans to take on an expanded gravity survey over the western side of the Cardinia project and over three prospects to the north
- At the same time, the company revealed assay results from reverse circulation (RC) and diamond drilling at the Pelsart, Cardinia Hill, and Helens East prospects in the project area
- It seems, however, that despite Kin’s confidence over the gravity survey results, investors might have been hoping for more from the company’s drilling results
- Shares in Kin Mining closed 3.33 per cent lower this afternoon at 14 cents per share
Kin Mining (KIN) has released assay results from a recent bout of drilling at its Cardinia Gold Project alongside results from a gravity survey of the area.
The junior explorer said the survey was designed to map the distribution of felsic porphyry and dolerite intrusions along the Eastern Corridor of the WA project. These instrusions were previously discovered through reverse circulation (RC) and diamond drilling along the corridor.
According to Kin, the survey show that felsic and mafic intrusions have significant control over the locations of high-grade mineralisation at three key deposits in the area.
For those unfamiliar with the intricacies of geophysical groundwork, the key takeaway is this: Kin Mining’s gravity survey has revealed seven new priority targets for drilling along the Eastern Corridor. The company said it believes these targets have “excellent potential” for new zones of high-grade mineralisation.
Kin now plans to take on an expanded gravity survey over the western side of the Cardinia project and over three prospects to the north.
Company Managing Director Andrew Munckton said the the intrusions revealed in the gravity survey are “critical geological features” within the Cardinia project area.
“A series of important deposits sit around the perimeter of the low gravity
bodies that are present between Helens and Cardinia Hill,” Andrew explained. Helens and Cardinia Hill are two important prospects in the project.
“Deposits here have significant depth extent (up to 200 metres vertical in the case of Helens) and strong intersections at depth, and we therefore believe that these
intrusions and the faults and shear zones generated by them are a primary control of mineralisation at Cardinia,” he said.
He said the structural architecture of intrusions and faults also represents a compelling exploration target to be followed up during 2021.
Assay results
Alongside the gravity survey results, Kin Mining released assays from a recent RC drilling program at the Pelsart prospect and diamond drilling programs at Cardinia Hill and Helens East.
Best results from the RC program included a 12-metre hit at 1.75 grams per tone (g/t) of gold from 99 metres anda two-metre hit at 2.17 g/t of gold from 13 metres.
From Cardinia Hill, the best hits included a 3.6-metre intersection at 1.18 g/t of gold from 224.2 metres, and from Helens East a 5.2-metre intersection at 1.15 g/t of gold from 79.8 metres.
Despite Kin’s confidence in its gravity survey results, it seems investors may have been hoping more from the Cardinia project drilling.
Shares in Kin Mining closed 3.33 per cent lower at 14 cents per share. The company has a $101.56 million market cap.