- Recent drilling at Kingston Resources’ (KSN) Misima Gold Project in Papua New Guinea has returned positive assay results including high-grade silver intercepts
- The results from the Kulumalia prospect are part of an ongoing 8000-metre drilling campaign
- Significant gold intercepts include six metres at 1.18 grams per tonne (g/t) gold from 15 metres and 10.7 metres at 1.34g/t gold from 44 metres
- Significant silver intercepts include 7.2 metres at 149.8 g/t of silver from 28 metres, 21.5 metres at 62.2 g/t of silver from 169 metres and two metres at 163 g/t of silver from three metres
- A new zone of shallow mineralisation was identified in an area that was previously interpreted as un-mineralised
- On completion of the drill campaign, the results will feed into an ore reserve estimate for the gold project, which is set to be delivered later this year
- Kingston Resources’ shares are up 5.41 per cent at 19.5 cents each
Recent drilling at Kingston Resources’ (KSN) Misima Gold Project in Papua New Guinea has returned positive assay results including high-grade silver intercepts.
The results from the Kulumalia prospect are part of an ongoing 8000-metre drilling campaign designed to confirm historical drill intercepts in the area, as well as in-fill and upgrade the existing inferred resource.
Significant gold intercepts from the drilling include six metres at 1.18 grams per tonne (g/t) gold from 15 metres, and six metres at 0.88 g/t gold from three metres, which included two metres at 1.96g/t gold.
Significant silver intercepts include 7.2 metres at 149.8 g/t silver from 28 metres, 21.5 metres at 62.2 g/t silver from 169 metres and two metres at 163.0 g/t silver from three metres.
Kulumalia is located at the southern end of the main Umuna orebody, and the company believes the high-grade silver find will enhance the potential economic contribution of mining within the area.
The campaign also identified a new zone of shallow mineralisation in an area that was previously interpreted as un-mineralised. Follow-up drill testing in the area is expected and could expand the existing resource at Umuna.
Managing Director Andrew Corbett called the latest results a significant development for the potential economics of these sectors of the deposit.
“The ongoing de-risking of the project from a geological perspective continues to add value to the proposed mining operation, and further highlights Misima’s attractiveness as a long-life, low-cost gold producer,” Andrew continued.
Once the drill program is complete, the assay results will feed into an ore reserve estimate for the gold project, which the company plans to deliver later this year.
Kingston Resources’ shares are up 5.41 per cent at 19.5 cents each