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Kingston Resources (ASX:KSN) gets drill results from SOZ underground deposit

ASX News, Materials
ASX:KSN      MCAP $44.35M
18 May 2022 12:45 (AEST)
Kingston Resources (ASX:KSN) - Managing Director, Andrew Corbett

Source: Kingston Resources

Kingston Resources (KSN) has received results from an initial hole drilled at the Southern Ore Zone (SOZ) underground deposit.

The SOZ Underground Deposit is part of the recently acquired Mineral Hill project in New South Wales where a 15,000-metre drilling program began in February.

Drilling targeted near-surface mineralisation adjacent to the existing resources and reserves at the Pearse and Pearse North open pits, and known resources within the A lode of the SOZ underground deposit.

The program also includes resource definition drilling at the Jacks Hut, GD140 and Missing Link areas.

Eight diamond holes were completed at SOZ underground with results received for one, three are undergoing analysis, and the remaining four holes are being geologically logged and sampled.

According to Kingston, the first hole at SOZ has returned ‘exceptionally high-grade’ base metal results within a broader zone of mineralisation in the Upper A lode.

Assays peaked at 5.5 per cent copper, 32 per cent lead and 25 per cent zinc.

The best intercept includes 10 metres at 2.12 per cent copper, 10.4 per cent zinc, 10.3 per cent lead, 0.5g/t gold and 81g/t silver.

These results reportedly confirm the spatial location and existing geology and mineralisation model at SOZ, with potential to extend mineralisation along strike and up dip.

Managing Director Andrew Corbett described SOZ underground as a “key pillar” of the company’s overall objective to establish an initial five-year mine plan at the Mineral Hill project.

“Our current expectations are that, at that the conclusion of production from the current tailings re-treatment operation, annual production will increase and initially come from the Pearse open pits and the SOZ Underground,” Mr Corbett said.

Drilling at Mineral Hill is expected to be completed before the end of May and the company expects to deliver updated mineral resource estimates in the second half of 2022.

The company has also begun planning and work programs on the SOZ underground deposit to establish drill platforms for use later this year.

KSN was trading 3.45 per cent higher at 15 cents at 12:43 pm AEST.

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