Kingston Resources Ltd’s (ASX:KSN) (FRA:RZZ) ongoing resource drilling at Kulumalia within the Misima Gold Project in PNG has returned multiple wide intersections that have both increased the geological confidence in the existing resource model as well as identified new zones of mineralisation.
Drilling results from Kulumalia are part of an ongoing 8,000 metre drilling campaign designed to test depth extensions and confirm historical drill intersections in the area, as well as to in-fill and upgrade the existing inferred resource.
Encouragingly, the results have delivered some particularly high silver grades, which are expected to enhance the potential economic contribution of mining the Kulumalia area within the Umuna Pit.
A new zone of shallow mineralisation has also been intersected in an area that was previously interpreted as un-mineralised.
This area requires follow-up drill testing, and if successful, is expected to expand the existing Umuna resource.
Following completion of the drill program, assay results will feed into an updated ore reserve estimate for the Misima Gold Project, which is expected to be delivered later this year.
“Delighted by the quality of these assays”
Managing director Andrew Corbett said: “It’s great to have drilling back underway at our flagship Misima Gold Project, and we’re delighted by the quality of these early assays from the Kulumalia region, at the southern end of the main Umuna deposit.
“The closer-spaced drilling at Kulumalia has further enhanced our understanding of this part of the Umuna orebody, and we are confident it will be included in an updated ore reserve estimate later this year.
“Further, the discovery of new zones of shallow gold mineralisation within the current Resource pit shell, as well as high-grade silver zones, are both significant developments for the potential economics of these sectors of the deposit.”
High-grade results
Best intersections from the drill holes targeted the western end of the Kulumalia mineralised zone, including 6 metres at 1.1 g/t gold and 43.45 g/t silver from 15 metres;
- 10.7 metres at 1.34 g/t and 8.1 g/t from 44 metres, including 4.7 metres at 2.42 g/t and 9.51 g/t from 50 metres;
- 14.2 metres at 1.61 g/t and 3.97 g/t from 146.8 metres, including 3 metres at 4.94 g/t and 5.93 g/t from 157 metres; and
- 6 metres at 0.88 g/t and 62.9 g/t from 3 metres, including 2 metres at 1.96 g/t and 163 g/t from 3 metres.
Substantial high-grade silver assays were returned adjacent to the gold mineralisation and enhance the project’s economics with the following:
7.2 metres at 149.83 g/t silver from 28 metres, including 6 metres at 39.67 g/t from 41 metres and 17.9 metres at 33.01 g/t from 216.5 metres;
- 21.5 metres at 62.23 g/t from 169 metres;
- 13 metres at 59.26 g/t from 214.9 metres; and
- 2 metres at 163 g/t from 3 metres.
Next steps
Corbett continued: “The ongoing de-risking of the project from a geological perspective continues to add value to the proposed mining operation, and further highlights Misima’s attractiveness as a long-life, low-cost gold producer.”
Drilling at Kulumalia is planned to continue into Q2 2021.
The scope of work has been expanded based on the updated geological interpretation to include drill testing of near-surface gold mineralisation in structures in the hanging wall of the main gold rich zone, strike extensions to the east and west, and in-fill of existing and intermediate sections.
A small drill program will also be completed on the Cooktown Stockpile to evaluate gold grade and bulk density in order to de-risk the stockpile-related Resource.