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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New appointments have been made to expand Kingston’s exploration and project management team, adding extensive expertise in epithermal gold-silver system exploration and development.
The company believes there is outstanding potential for additional resource growth through exploration at the Misima gold project in PNG to extend the current 2.8 million-ounce resource base.
Controls on gold mineralisation at Kingsley have been established, with near-surface mineralisation likely to be derived from an underlying primary gold system within bedrock.
The recent drilling results highlight a third area yielding gold mineralisation as part of the company’s strategy to define early mill feed.
Kingston owns 77% of the Misima Gold Project in PNG and 75% of the high-grade Livingstone Gold Project in Western Australia.
The results from Misima North confirm high-grade gold mineralisation 2.5 kilometres north of the Umuna resource boundary.
December 17’s surface geochemistry results underlined the potential of Kingston Resources' Misima Gold Project in Papua New Guinea
Non-executive director Stuart Rechner has acquired 84,000 shares and now holds almost 201,000 in an indirect interest.
The new results will underpin an upcoming diamond drilling program over the next couple of months in the Quartz Mountain area of Misima Gold Project.
Further geochemistry work highlights outstanding surface grades at Ewatinona, with highlights including 1.5 metres at 29.5 g/t gold and 1.2 metres at 21.5 g/t.
The company is set to pay A$2.8 million in staged payments to acquire PPC’s interest in the JV company and all other rights in the project.
Kingston outlined its exploration work plan for its flagship 2.8 million ounce Misima Gold Project in Papua New Guinea.
The program of about 800 metres is designed to further define the controls on high-grade mineralisation at Kingsley prospect.
Diamond drilling is set to begin shortly ahead of further RC drilling to establish a maiden JORC-compliant mineral resource estimate.
A second diamond drill rig is now on site with drilling also underway at Umuna East.
Kingston is drilling at its flagship 2.8 million ounce Misima Gold Project in Papua New Guinea.
Management believe they have potentially discovered a large, high-grade gold system at Kingsley.
The Abi Prospect is in the Quartz Mountain region within the flagship 2.8 million ounce Misima Gold Project.
Drilling continues at additional targets in the Quartz Mountain area as part of the ongoing near-surface exploration program.
The funding will be used to increase ongoing exploration activities at Kingston’s 2.8-million-ounce Misima Gold Project in Papua New Guinea and its Livingstone Gold Project in WA.
