- Kingston Resources (KSN) has struck high-grade gold from at its Misima Gold Project in Papua New Guinea
- The company has been collecting samples for assay from the Abi Prospect in the area
- Based on the results of the assays, some diamond drill holes are now being planned in the area
- Kingston’s shares gained a healthy 10.34 per cent today, closing at 16 cents each
Kingston Resources (KSN) has struck some more high-grade gold from the Abi Prospect of its Misima Gold Project in Papua New Guinea.
Kingston has been collecting samples for assay from the Quartz Mountain area of the project, with assay results being dropped on the market today.
The best resulted included 7.7 metres at 20.87 grames per tonne of gold, including a zone of 4.4 metres at 35 grams per tonne of gold, and two metres at 10.5 grams per tonne of gold.
Kingston’s Managing Director, Andrew Corbett, said the geochemical results are “outstanding” and are helping build the company’s knowledge and confidence of the Abi Prospect.
“While it’s still early days with this target, the results so far certainly give us confidence that there is more to come, and we are looking forward to seeing what the upcoming drilling can deliver,” Andrew said.
After today’s results, Kingston is planning to drill some holes are now being planned for the area.
“We expect to be drilling a number of follow-up holes at Abi over the coming months, in conjunction with our program at nearby Ewatinona,” he said.
Kingston plans to drill two diamond drill holes to test for more mineralisation at Abi.
Kingston’s shares gained a healthy 10.34 per cent today, closing at 16 cents apiece in a $28.25 million market cap.