Kingston Resources Ltd (ASX:KSN) (FRA:RZZ) has a capital raising announcement pending and has been granted a trading halt by the ASX.
The halt will remain in place until the start of regular trading on Friday, December 11, or when an announcement is released to the market, whichever occurs earliest.
High-grade results at Homestead
Recent reverse circulation drilling at the Livingstone Gold Project in WA returned high-grade assay results of up to 17 metres at 3.07 g/t from the Homestead prospect.
Drilling at Homestead comprised five RC holes for 513 metres and was designed to expand on and confirm historical drilling results.
The drilling was undertaken within the existing JORC 2004 inferred resource of 990,000 tonnes at 1.6 g/t gold for 50,000 ounces envelope.
Best intersections included:
- 17 metres at 3.07 g/t from 14 metres, including 1-metre at 7.94 g/t from 16 metres and 2 metres at 9.36 g/t from 24 metres;
- 7 metres at 3.32 g/t from 27 metres, including 1-metre at 9.74 g/t from 27 metres and 2 metres at 5.08 g/t from 30 metres;
- 11 metres at 1 g/t from 104 metres including 1-metre at 4.97 g/t from 111 metres; and
- 11 metres at 1.18 g/t from 31 metres.