- Kingrose Mining (KRM) has intersected up to 32.2g/t gold from the Talang Santo deposit at the Way Linggo Project in Indonesia
- Drilling began in February 2020 with aims to increase the confidence in the resources and identify extensions to the high-grade mineralisation
- Unfortunately, work was suspended in May due to the COVID-19 pandemic but resumed in September
- The result of 32.2g/t gold confirms that mineralisation in the Main Vein extends to a depth at least 200 metres below the underground mine workings
- Kingrose is now planning the next phase of drilling which will aim to outline the size potential of the resource to establish a new underground operation at Talang Santo
- Company shares are up 7.14 per cent at market close and are trading at 4.5 cents
Kingrose Mining (KRM) has intersected up to 32.2g/t gold from the Talang Santo deposit at the Way Linggo Project in Indonesia.
Resource extension drilling began in February 2020, however, work was suspended in May due to the ongoing COVID-19 pandemic.
The aim of this drilling was to increase confidence in the resources for a probable reserve estimate and identify extensions to the high-grade mineralisation.
By time work stopped, 11 holes, for 4441 metres, had been drilled and once drilling resumed in September, an additional six holes were completed.
Best results received so far include 4.2 metres at 11.98g/t gold from 489.75 metres including 1.25 metres at 32.2g/t gold from 490.55 metres, and 2.95 metres at 9.23g/t gold from 416.8 metres including 1.2 metres at 18.4g/t gold from 418.2 metres.
These results confirm that mineralisation in the Main Vein extends to a depth at least 200 metres below the underground mine workings.
“This most recent round of drilling highlights the potential for resource expansion at Talang Santo,” Chairman Dr Mike Andrews commented.
“It is particularly encouraging that all of these recent drill holes consistently returned high-grade intervals over reasonable widths, indicating that this high tenor of gold grades may continue at the Main Vein which remains open at depth and along strike,” he said.
Kingrose is now planning the next phase of drilling, which will aim to outline the size potential of the resource to establish a new underground operation at the Talang Santo deposit.
Company shares are up 7.14 per cent at market close, trading at 4.5 cents in a $32.85 million market cap.