Kingston Resources discovers new gold zone at Misima
Diamond drilling at Kingston Resources’ Misima project returned 13.5m at 4.6g/t gold from 17.5m.
Kingston Resources (ASX: KSN) has discovered a new area of gold mineralisation within its Misima gold project in Papua New Guinea.
Diamond drilling has uncovered a zone of shallow gold mineralisation at the Abi prospect, which is immediately north-west of the project’s historic processing plant.
The latest drill hole returned 23.6m at 2.91 grams per tonne gold from 7.4m, including 13.5m at 4.6g/t gold from 17.5m.
This hole was along strike to the south-east of the current 220,000 ounce Ewatinona resource in the Quartz Mountain region.
Meanwhile, a broad surface exploration program at Quartz Mountain has returned up to 9.97g/t gold and 21.4g/t silver in rock chips.
Hand trenches followed up the rock chip sampling and uncovered up to 2m at 33.5g/t gold and 11.8g/t silver.
“This is a significant development for our ongoing exploration program in the Quartz Mountain region, where we are specifically targeting additional zones of Ewatinona-style mineralisation that could increase the existing resource and provide easily accessible, low-cost ounces in the early stages of a future mining operation at Misima,” Kingston managing director Andrew Corbett said.
“A combination of diamond drilling and surface exploration has now confirmed the location and tenor of mineralisation at Abi, demonstrating strong upside potential to the existing resource,” Mr Corbett added.
Assays from a further three drill holes are pending and once Kingston has all results at hand, it will carry out infill and extension drilling to develop an updated resource.
Advancing Misima
Placer Pacific operated Misima between 1989 and 2001 before closing the mine when the gold price plunged below US$300/oz.
During operation Misima produced more than 3.7Moz of gold.
Kingston owns a 70% stake in the project, and is undertaking exploration to grow the current 2.8Moz JORC resource.
“The pedigree of this area is highlighted by the successful open pits mined by Placer at Ewatinona, Kobel and Maika,” Mr Corbett said.
Exploration is also targeting the Umuna east side and Misima North prospects.
A second rig is due onsite at the project next month, which Mr Corbett claims will accelerate the current exploration program and produce a strong news flow over the coming months.