Kin Mining NL (ASX:KIN) has intersected broad zones of mineralisation with visible gold at targeted positions from its initial diamond drilling program at the 1.4 million-ounce Cardinia Gold Project, situated near Leonora in Western Australia, highlighting the growth potential of the project.
As part of its ongoing exploration and growth program. the company recently kicked off a deep diamond drilling program to evaluate a number of induced polarisation (IP) geophysical anomalies situated below the Helens, Helens East, Cardinia Hill and Rangoon deposits within the Eastern Corridor.
Notably, drill hole IP001 intersected visible free gold at 104.7 metres down-hole in a new mineralised position east of the Rangoon Fault.
In addition, drilling also returned a broad 13-metre zone of sericite-carbonate with disseminated pyrite mineralisation at 266 metres down-hole, below the Helen-Rangoon fault, similar in style to the high-grade areas of Rangoon.
Moving forward, Kin’s drilling is continuing to systematically test the five identified IP targets, with two holes remaining with first assays expected within four to five weeks.
“New large-scale discoveries”
Kin managing director Andrew Munckton said: “We have made an outstanding start to the current diamond drill program, which is designed to test the first generation of deeper targets at Cardinia potentially to uncover new large-scale discoveries within the exciting Eastern Corridor.
“The first of three diamond holes, which were collared to test a series of induced polarisation (IP) anomalies, have intersected significant zones of mineralisation in the targeted position.
“Hole IP001 also intersected visible free gold in a new mineralised position, which is highly encouraging and rare in the Cardinia area.
“While it’s still early days, the results are very encouraging and show that IP works very well at mapping buried sulphide zones in the Eastern Corridor. The upside potential for the project is substantial!”
Diamond drilling program
A total of five separate targets have been identified and are being systematically tested with a series of approximately 350-metre-deep diamond holes.
All five targets are situated on two IP sections from the Kurrajong survey where mapping and resistivity data suggest the host rock is mafic or felsic volcanics.
This is the first generation of deeper targets to be tested at Cardinia and represents a significant exploration development for the project.
Forward plan
IP geophysical surveys, coupled with detailed geological mapping at the surface to position the fertile structures, appear to accurately map the position of significant bodies of sulphide mineralisation within the Eastern Corridor at Cardinia.
This feature of moderate IP anomalism is expected to also be reflected in all significant sulphide mineralisation in the greater Cardinia area.
Further detailed IP surveys are therefore required to infill the existing re-processed Kurrajong survey (which was completed in 2013 at 800-metre spacing) to provide a consistent 3D picture of likely mineralised positions to approximately 300 metres below the surface.
Kin will complete the remaining two diamond drill holes in this program before ramping up other exploration activities, principally in the Eastern Corridor as part of its ongoing exploration campaign at Cardinia.
Obvious additional targets have been identified on other IP sections that have been re-processed, and these additional targets will also be tested to determine the IP chargeability anomaly.