- Kingston Resources (KSN) has entered a trading halt regarding an upcoming capital raising
- The company will remain in the halt until December 11 or when an announcement is made, whichever occurs first
- In early December, Kingston intersected high-grade assays from the Homestead prospect within the Livingstone Gold Project in WA
- Grades peaked at 9.74g/t gold and results have confirmed and improved the confidence of historical high-grade results
- Shares in Kingston last traded at 30 cents on December 7
Kingston Resources (KSN) has entered a trading halt regarding an upcoming capital raising.
The company will remain in the halt until December 11 or when an announcement is made, whichever occurs first.
In early December, Kingston intersected high-grade assays from the Homestead prospect within the Livingstone Gold Project in WA.
Reverse circulation (RC) drilling was undertaken to expand and confirm historical results.
Best results include seven metres at 3.32g/t gold from 27 metres including one metre at 9.74g/t gold from 27 metres, and 17 metres at 3.07g/t gold from 14 metres including two metres at 9.36g/t gold from 24 metres.
These results have confirmed and improved the confidence of historical high-grade results.
“The assay results demonstrate the high-grade nature of gold mineralisation at Livingstone, and confirm the grades and widths of historical drilling programs at Homestead,” Managing Director Andrew Corbett said at the time.
“The project-wide geological review that is currently being undertaken has confirmed the prospectivity of existing targets, as well as highlighting new areas of interest that will be incorporated into future exploration programs at Livingstone,” he added.
Kingston is yet to disclose how much it will be raising or what it will use the funds for.
Shares in Kingston last traded at 30 cents on December 7.