Kingston Resources Ltd (ASX:KSN) has revealed encouraging results from its final confirmatory drill hole at the key Ewatinona deposit within the Misima Gold Project in PNG.
Significant results from hole GDD042 include:
- 15.7 metres at 1.60 g/t gold, including 7 metres at 3.19 g/t gold;
- 3.9 metres at 1.86 g/t gold, including 0.6 metres at 8.04 g/t gold and 1.7 metres at 1.46 g/t gold.
These results correlate with and support the recently reported results from the first 12 holes which confirmed the upside potential for the Ewatinona resource.
GDD042 at 43.30 metre: Crackle brecciation with quartz-sphalerite-galena infill in silica-sericite altered diorite porphyry
Ewatinona is within the Quartz Mountain area of the 2.8 million-ounce Misima Gold Project and contains an inferred resource of 6.6 million tonnes at 1 g/t gold for 220,000 ounces.
It is one of a number of areas to be drilled this year as part of an ongoing exploration program aimed at defining shallow, high-grade gold mineralisation with the potential to contribute early ounces to future mining studies.
Kingston managing director Andrew Corbett said: “The Quartz Mountain drilling continues to deliver very positive results, confirming the location and tenor of new Ewatinona-style mineralisation and demonstrating strong upside potential to the existing Resource.
“Following interpretation of these latest results and the successful placement of the shortfall from our rights issue, we intend to mobilise a second drill rig to this area to conduct additional infill and extension drilling to underpin an updated Mineral Resource estimate.
Misima prospect map showing the location of current prospects
“Drilling is continuing on additional targets within the Quartz Mountain area, with Stage 1 now nearing completion, following which we expect to move to Misima North and Umuna East Side.
“Our exploration strategy remains firmly focused on establishing sufficient near-surface ounces from these targets to commence mining studies”.