Kingston Resources Ltd (ASX:KSN) has delineated 10 or more new drill targets within and close to the Mineral Hill copper-gold mine's Mining Lease (ML) in New South Wales, providing drill-ready, walk-up greenfield targets and highlighting the growth potential of the recently acquired project.
The new targets correlate with induced polarisation (IP) signatures consistent with mineralisation and mined ore bodies, increasing Kingston’s confidence in the quality of these greenfield targets.
“Multitude of high-quality targets”
“We are very pleased to report that our exploration efforts since acquiring Mineral Hill in January have identified a number of compelling new targets that display strong geophysical similarities to the known deposits at the mine,” Kingston Resources managing director Andrew Corbett said.
“Importantly, the majority of these targets are located within the bounds of the existing MLs, have not previously been drilled, and are a short distance from the processing plant.
“There is a legacy of discovering new orebodies at Mineral Hill, with the most recent being the high-grade Red Terror Lode in 2012.
“The results from the new geophysical datasets and interpretations indicate that there are a multitude of high-quality targets within or close to our MLs with the potential to generate significant exploration success and, ultimately, increase the mine life at Mineral Hill.”
Kingston believes the company’s new IP model confirms the geophysical fingerprint of existing Mineral Hill deposits and highlights the potential or additional near-mine discoveries and extensions to mineralised structures.
A total of ten targets have been identified by this initial work package, with exploration planning underway to test the targets.
Further work programs at Mineral Hill
“Kingston is well underway with advancing the resource development drilling programs at Pearse South, Pearse North, Jacks Hut and SOZ,” Kingston managing director Corbett continued.
“We are confident that these programs will pave the way for Kingston to achieve its objective of establishing a plus 5-year mine life at Mineral Hill following completion of the already cash-generating tailings re-processing project.
“In addition to the established resource development program, we now have an exciting portfolio of greenfields targets ready for follow-up work and drill testing.”
Kingston’s geology team are continuing diamond and reverse circulation (RC) resource development drilling programs at Pearse North, SOZ, Jack’s Hut, and Missing Link.
A resource estimate update for Pearse South and Pearse North is expected to be completed in Q3 2022.
Kingston will also review geophysical data over mining licences EL1999 and EL8334, again scheduled for the third quarter.