Kin Mining NL (ASX:KIN) has demonstrated its confidence in the Leonora district of Western Australia, expanding its interests in the area with a farm-in deal for tenure adjacent to its flagship Cardinia Gold Project (CGP).
The exploration earn-in and joint venture agreement secured with Golden Mile Resources Ltd (ASX:G88) covers more than 120 square kilometres of contiguous tenure adjacent to the 1.28-million-ounce CGP.
This agreement allows Kin to consolidate significant parcels of exploration ground around the highly prospective, Tier-1 Leonora mining province.
“Logical and strategic addition”
Kin Mining managing director Andrew Munckton said: “The earn-in and joint venture agreement with G88 represents a logical and strategic addition to our regional gold exploration footprint, with the ability for our team to apply the systematic exploration methodology and regional knowledge we have successfully employed at the Cardinia Gold Project to test this under-explored package of ground.
“Earning-in to this tenure is consistent with our strategy of acquiring and consolidating prospective ground and assets in the Leonora district that will help us to grow our resource base and establish the foundations for Kin to build a long-term gold business.
“The contiguous nature of these tenement packages and the fact that they lie on geological structures that we’re already exploring at the CGP make this ground a very attractive addition to our exploration footprint.”
Kin intends to leverage successful exploration techniques and detailed geological knowledge from previous efforts across this additional tenure, which includes historic results of:
Monarch:
- WRC039 (Wildcat) 2 metres at 2.86 g/t gold from 96 metres; and
- WRC036 (Wildcat) 2 metres at 1.62 g/t from 68 metres.
Ironstone Well:
- IRC002 (Natasha) 7 metres at 4.16 g/t from 17 metres.
“Kin will include this ground in its future exploration plans, alongside the other exciting areas that will be followed-up in the next phase of work planned for 2022, including ongoing exploration programs at Rangoon and Pegasus at Cardinia, as well as Mt Flora and Randwick,” Munckton said.
About Kin Mining
Kin Mining NL (ASX:KIN) is a gold development and exploration company, whose key focus is the 100%-owned Cardinia Gold Project (CGP) in the highly prospective North-Eastern Goldfields region of Western Australia.
The CGP has a 1,280,000-ounce gold mineral resource defined in oxide and deeper primary mineralisation with considerable potential to grow this resource with further drilling.