- Kin Mining (KIN) has received more high-grade results from its ongoing drilling program at the Cardinia Hill deposit
- The program aims to extend the mineral resource at Cardinia Hill, which currently has an inferred mineral resource of 1.2 million tonnes at 1.66g/t for 61,000 ounces of gold
- Best results from the latest assays at the WA-based deposit include seven metres at 21.3 g/t gold from 91 metres
- Kin said the results also confirm the continuity of mineralisation and elevated gold grades, with drilling extending both the shallow and deeper high-grade mineralisation at the deposit
- Along with the Cardinia Hill results, strong assay results have been received from the nearby Bruno Lewis deposit, including 7.4 metres at 7.67 g/t gold from 83 metres
- Company shares are trading up 8.7 per cent at 12.5 cents per share
Kin Mining (KIN) has received more high-grade results from its ongoing drilling program at the Cardinia Hill deposit.
The deposit forms part of the company’s wider Cardinia Gold Project, with the RC drilling program aiming to extend the mineral resource at Cardinia Hill.
It currently sits at an inferred mineral resource of 1.2 million tonnes at 1.66g/t for 61,000 ounces of gold, as of December 2020.
The mining stock explained these latest results from Cardinia Hill confirm the continuity of mineralisation and elevated gold grades at the deposit.
Specifically, KIN explained the drilling had managed to extend both the shallow and deeper high-grade mineralisation along the Cardinia Hill Fault to the north.
Best results from this latest set of assays include seven metres at 21.3 g/t gold from 91 metres, and 3.4 metres at 9.72 g/t gold from 252.6 metres.
Managing Director Andrew Munckton explained these results come from an additional 14 holes, drilled across 1561 metres at the deposit.
“Cardinia Hill is continuing to grow in stature with each batch of results, with the drilling further extending the mineralisation both close to surface and at depth,” he said.
“We are particularly pleased to see some outstanding high grades coming through in these latest results from areas outside the initial mineral resource estimate boundary,” he added.
“[This] is consistent with our strategy of targeting high-grade additions at depth and along strike to increase the value of the deposit and extend the MRE into other open pit and potential underground mining positions,” he stated.
Along with the Cardinia Hill results, the company said strong assay results have been received from the nearby Bruno Lewis deposit.
Best results include 7.4 metres at 7.67 g/t gold from 83 metres, with Kin also aiming to upgrade the mineral resource estimate for this deposit as well.
Additionally, the mining stock said drilling continues at Cardinia Hill, as well as the Eastern Corridor and Eagle prospects at the WA project.
Following today’s update, shares in Kin Mining have spiked 8.7 per cent at 12.5 cents per share at 12:50 pm AEST.