- Kingston Resources (KSN) has received new results from drilling at the Kulumalia target which is part of the Misima Gold Project in Papua New Guinea
- The company undertook a 19-hole drilling program which is aimed at supporting a mineral resource and reserve update later this year
- Latest results returned high grades of up to 8.3g/t gold and 121g/t silver
- Kingston will now conduct follow-up drilling ahead of a geotechnical drilling program which will contribute to upcoming mining studies
- Company shares are up 2.17 per cent at 23.5 cents
Kingston Resources (KSN) has received new results from a resource drilling program at the Kulumalia target in Papua New Guinea.
Kulumalia is on the southern end of the main Umuna orebody at the flagship Misima Gold Project.
The resource diamond drilling program included 19 holes, for 3820 metres, and aimed to support an updated resource and reserve for the Misima project.
Latest results include high-grade, wide mineralised intercepts that lie outside of the reserve pit shell.
Best gold and silver assays include three metres at 8.3g/t gold and 87.2g/t silver from 1.5 metres, 21.3 metres at 1.69g/t gold and 30.5g/t silver from 218 metres, six metres at 2.32g/t gold and 46.5g/t silver from 142 metres, and 21.5 metres at 0.94g/t gold and 121g/t silver from 210.9 metres.
These build on previously reported assays of 20.7 metres at 2.52g/t gold and 86.1g/t silver from 99.3 metres including 1.9 metres at 15g/t gold and 22.3g/t silver from 105 metres.
“The Kulumalia drill program has been a great success, returning intercepts of significant grade and width that have confirmed the mineralisation style across most of the Kulumalia area,” Managing Director Andrew Corbett said.
Interestingly, Kingston didn’t expect there to be silver mineralisation at grades this high as the area is a known gold-rich mineralised zone.
The company will incorporate the results into an upcoming resource and reserve update which is slated for completion in the September quarter.
In the meantime, Kingston Resources is undertaking follow-up drilling at the Kulamalia target, ahead of a geotechnical drilling program which will contribute to mining studies later this year.
Company shares are trading up 2.17 per cent at 23.5 cents at 2:42 am AEST.