Kingston Resources Ltd (ASX:KSN) has delivered further strong gold and silver results from a resource drilling program at Kulumalia deposit south of the main Umuna ore body at its flagship 3.6-million-ounce Misima Gold Project in PNG.
The latest assays have returned multiple new wide, mineralised intercepts outside the reserve pit shell - increasing geological confidence in the existing resource and reserve models.
High-grade gold and silver assays were returned, with highlights including:
- 3 metres at 8.3 g/t gold and 87.2 g/t silver from 1.5 metres, and 21.3 metres at 1.69 g/t gold and 30.5 g/t silver from 218 metres;
- 6 metres at 2.32 g/t gold and 46.5 g/t silver from 142 metres, and 21.5 metres at 0.94 g/t gold and 121 g/t silver from 210.9 metres; and
- 19.4 metres at 0.85 g/t gold and 60.8 g/t silver from 94 metres, including 3 metres at 2.53 g/t gold and 228 g/t silver from 104 metres.
“Positive implications for life-of-mine”
Consistent with previously reported results, these results have also delineated new mineralisation beneath the current life-of-mine plan.
Kingston Resources managing director Andrew Corbett said: “The Kulumalia drill program has been a great success, returning intercepts of significant grade and width that have confirmed the mineralisation style across most of the Kulumalia area.
“This drilling has significantly advanced our understanding of the geology at Kulumalia, with expected positive implications for the life-of-mine plan in the southern portion of the proposed Umuna pit.”
Kulumalia follow-up drilling
Geological logging and mapping has improved understanding of the ore body, highlighting the possibility of repeat extensions of the Kulumalia and Umuna structures to the north and east, with shallow mineralised structures in the hanging wall to the south, which will be incorporated into the new resource model.
Follow-up drilling is underway at Kulumalia and will continue to infill the existing drill pattern and test shallow mineralisation potential within the reserve and production target pit shells - ahead of a program of geotechnical drilling which will contribute to mining studies in the second half of 2021.
Corbett said: “Following the latest program of resource drilling at Kulumalia, the rigs completed a short drilling program at the Cooktown Stockpile aimed at increasing confidence in that component of the resource.
“The rigs have now returned to Kulumalia for follow-up drilling.”
Kulumalia plan map showing drill hole collars in resource, production target and reserve pit shells.
Resource update and DFS pending
Corbett said: “These programs put us on-track to deliver updated resource and reserve estimates in the September quarter, which will in turn feed into a definitive feasibility study (DFS) for the Misima Gold Project.
“The DFS will be our core focus over the second half of this year, alongside the Environmental and Social Impact Assessment (ESIA) works which are ongoing.
“The team is also preparing for a geotechnical drilling program that will commence in July.
“We are now gearing up to move to the next stage of development for the Misima Project as we advance the mining studies and approvals.”
Geotechnical drilling for the feasibility study is scheduled to commence in the third quarter, with various work programs for this study and ESIA ongoing.