Company
ASX:KSN
Kingston Resources Ltd (ASX:KSN) is a gold and copper company, operating the Mineral Hill mine in Cobar, NSW and advancing the 3.8Moz Misima Gold Project in PNG.
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The company believes the Misima Gold Project ticks all the boxes in becoming a ‘significant’ gold producer with a proven geological setting, production history, and high-quality untested exploration targets.
Initial results support the current mineralisation model, offering further encouragement for the 1.2 kilometres of untested strike at Kingsley prospect.
During the June quarter, the company completed an $8.4 million capital raising to progress the PFS and resource expansion drilling at Misima Gold Project in Papua New Guinea.
On July 15 the company started a 5,000-metre resource definition reverse circulation drilling program at the Livingstone Gold Project in the Bryah Basin of WA.
Funding from the WA Government Exploration Incentive Scheme will assist with subsequent drilling of the Stanley Deeps target.
The SPP marks the completion of a successful capital raising to advance the company’s PNG and WA gold projects.
The Misima Gold Project pre-feasibility study is also underway with appointment of a study manager as well as mining, geotechnical, metallurgical and environmental consultants.
A pre-feasibility study on the project is well underway and on track for delivery in the fourth quarter this year.
Funds will be used to progress a PFS, approvals and resource expansion drilling at Misima Gold Project as well as accelerate exploration at Livingstone project.
The company owns 77% of the Misima Gold Project where active exploration programs are underway as well as the Livingstone Gold Project in Western Australia where work is also in progress.
Funds will be used to progress a PFS, approvals and resource expansion drilling at Misima Gold Project as well as accelerate exploration at the Livingstone project.
The company recently updated its Misima project resources which confirmed its prominence as one of the most significant mid-tier gold development opportunities in the Asia Pacific.
The update confirms the project as one of the most significant mid-tier gold development opportunities in the Asia-Pacific region.
The updated Misima Gold Project resource is due this quarter and will include an update at Ewatinona which will factor in results from the latest drilling.
Results from the drilling will contribute to an updated mineral resource, ahead of the start of feasibility studies for the gold project in PNG.
The new tenement consolidates around 40 kilometres of strike potential including the recently identified Southern Basal Horizon Target.
Results indicate that the 220,000-ounce Ewatinona resource remains open to the east, an area of low historical drill hole density.
Ewatinona is now clearly emerging as an ideal opportunity for a starter pit, with an existing 220,000 ounces resource, strong potential for growth, and proximity to infrastructure.
The resource drilling program was designed to expand and upgrade the existing 220,000 ounces gold inferred resource at Ewatinona.
The potential at Umuna East highlights the continued success of Kingston’s campaign to identify areas of shallow mineralisation for potential early-stage, starter pit mill feed for the Misima project.
