Kingston Resources kicks-off drilling at Livingstone ahead of maiden resource
Kingston Resources plans to unveil a maiden resource at Livingstone before the end of the year.
Gold explorer Kingston Resources (ASX: KSN) has kicked-off a resource drilling campaign at its 75%-owned Livingstone project in Western Australia where previous exploration unearthed 76.25 grams per tonne gold.
The 2,500m reverse circulation program follows on from exploration in 2018 where mineralisation was identified along 800m of strike at the Kingsley prospect.
Notable results from the earlier campaign were 4m at 76.25g/t gold from 88m; 28m at 2.26g/t from surface; and 5m at 6.56g/t gold from 49m, including 1m at 21.8g/t gold from 49m.
“This initial round of RC drilling at Kingsley will provide and important insight into the true depth extent of the known mineralisation, with the results to feed into a maiden resource estimate later this year,” Kingston managing director Andrew Corbett said.
He added that first assays were anticipated by September.
“This program at Livingstone will run concurrently with the multi-faceted exploration program that is ongoing at our flagship 2.8 million ounce Misima gold project in Papua New Guinea,” he said.
Livingstone gold project
Located 140km north-west of Meekatharra, the Livingstone project’s Homestead prospect has a non-JORC 2004 resource of 49,000oz.
Last year a preliminary air core drilling program led to the Kingston discovery, with this current program to be co-funded by the WA Government’s Exploration Incentive Scheme.
Once the current RC program at the project has been completed, Kingston will undertake a diamond drilling to firm up critical structural and geological information for developing the maiden resource and planning the next exploration stages.
Misima
In addition to exploration at Livingstone, Kingston is advancing its flagship 70%-owned Misima asset, which has a JORC resource of 2.8Moz.
Placer Pacific previously operated a mine at the project between 1989 to 2001 and produced 3.7Moz gold.
However, the mine was closed after the gold price plunged below US$300/oz.
The project’s potential is substantially enhanced with gold prices at all-time highs hovering at US$1,504/oz and A$2,208/oz.