Kin Mining NL (ASX:KIN) has set the drill bit spinning as it embarks on a new exploration phase at its Cardinia Gold Project in WA.
The precious metal explorer is once again on the hunt for gold, targeting resource growth and new discoveries with a comprehensive 9,000-metre program across Cardinia’s Eastern Corridor.
Kin’s targeting mission is threefold: it’s locked in on high-grade shoots, mineral resource extensions and new geological targets.
As such, the drill bit will test and infill between existing gold resources (spread across three main geological structures within the Eastern Corridor) and provide some background on the newly discovered ‘mystery fault’.
Targets in the crosshairs
Kin Mining managing director Andrew Munckton said the team was pleased to get boots on the ground for the major RC program.
“Building on the exciting results generated towards the end of last year, we see considerable untested opportunity across the broader project, with the highly mineralised Eastern Corridor displaying all the hallmarks of a major mineralised position where we have only just scratched the surface,” he explained.
Kin’s multi-phase program will include 60 RC drill holes, completed across six target areas within the highly prospective Eastern Corridor.
This hotspot is particularly interesting because it contains multiple untested faults and structures, which have been mapped at surface and are marked by an extensive soil geochemical signature.
“We know that the Eastern Corridor hosts three significant structures – the Helens-Rangoon Fault, Helens East Fault and the Cardinia Hill Fault – each of which contain several high-grade quartz-sulphide lodes that persist to significant depths,” Munckton continued.
“We have also previously confirmed the presence of other mineralised zones in the area, which present compelling opportunities for new discoveries."
Kin says the Eastern Corridor faults’ relationship to the Helens-Rangoon, Helens East and Cardinia Hill structures remains to be determined. What is clear, however, is that the Eastern Corridor’s interconnected structures are favourable to quartz-sulphide lode formation and high-grade gold.
With that front of mind, Munckton said his team was excited to drill the targets and looked forward to the results.
“We believe the Eastern Corridor is a significant gold mineralised system, which is yet to reveal its best deposits,” he concluded.
Kin’s priority targets include the gap between the Helens and Rangoon deposits, high-grade shoots at Helens East, the northern extensions of Rangoon, and the new mystery fault target, between the Helens East and Cardinia Hill faults.
Funding runway established
Kin's new RC campaign comes just weeks after it raised A$7.13 million to support exploration via a non-renounceable rights issue.
At the time, Munckton said the funding would maintain exploration momentum, keeping the drill bit spinning where the company's exploration and resource growth continued to pay dividends.