Kingston Resources Ltd (ASX:KSN) has discovered a new zone of gold mineralisation at its Abi Prospect within the Misima Gold Project in Papua New Guinea.
The discovery has been made through rock chip sampling, channel sampling and significant results from a diamond drill hole.
Hole GDD044 intersected 23.6 metres at 2.91 g/t gold from 7.4 metres including 13.5 metres at 4.60 g/t gold from 17.5 metres.
Rock chip assays feature up to 9.97 g/t gold and 165 g/t silver and channel assays feature 12 metres at 8.08 g/t gold and 3.87 g/t silver.
Assays for holes GDD045-47 are pending and a second diamond rig is expected to be in operation next month as drilling continues.
Kingston Resources’ managing director Andrew Corbett said: “This is a significant development for our ongoing exploration program in the Quartz Mountain region, where we are specifically targeting additional zones of Ewatinona-style mineralisation that could increase the existing Resource and provide easily accessible, low-cost ounces in the early stages of a future mining operation at Misima.
“The pedigree of this area is highlighted by the successful open pits mined by Placer at Ewatinona, Kobel and Maika.
“A combination of diamond drilling and surface exploration has now confirmed the location and tenor of mineralisation at Abi, demonstrating strong upside potential to the existing Resource.
Drilling continues at other targets
“With the initial round of drilling on targets within the Quartz Mountain area now complete, the diamond drill rig is currently drilling near-surface oxide targets at Umuna East Side before moving to Misima North.
“Following interpretation of these latest Abi results, we then expect to mobilise a rig back to Quartz Mountain to conduct additional in-fill and extension drilling to underpin an updated Mineral Resource estimate.
“With a second diamond rig expected to start operating next month, we may have the opportunity to accelerate this drilling program, providing shareholders with a strong flow of news from Misima in the months ahead.”
Abi is nearby to the Ewatinona JORC resource
The Quartz Mountain area contains the historical Ewatinona, Kobel and Maika pits that were historically mined and also the 220,000-ounce gold JORC resource at Ewatinona.