Kin Mining NL (ASX:KIN) non-executive director Brian Dawes has increased his stake in the gold-focused company through an indirect on-market purchase of 300,000 ordinary shares.
The transaction was made at a price of 8.11 cents a share for a total value of $24,330, increasing Dawes’ total shareholding to 805,655 shares.
Kin is developing the Leonora Gold Project about 750 kilometres northeast of Perth, where it has intersected substantial and broad gold mineralisation in first-phase diamond drilling.
Highlighted results from the Lewis prospect were: 19.9 metres at 1.84 g/t gold from 17.4 metres; 32.4 metres at 1.16 g/t from 39.6 metres; and 37.2 metres at 1.04 g/t from 51.4 metres.
All drill holes intersected significant gold intervals associated with sulphide mineralisation in a variety of geological styles.
While providing further geological insights, the results demonstrate a pathway for an upgraded mineral resource estimate at Lewis, as well as a simplified Lewis pit and incorporation into the Cardinia process plant design.