Kingston Resources finalises geotechnical drilling at Pearse North open pit development

Kingston Resources (ASX: KSN) has finalised a geotechnical drilling program at a proposed open pit area at the Pearse North target within the Mineral Hill copper-gold project in New South Wales.

Numerous intersections were returned and preliminary assays using a 1.0 gram per tonne cut-off showed high-grade gold hits within the pit design shell.

Best results were 7.4 metres at 2.91g/t gold and 27g/t silver from 0.6m; 3.6m at 4.9g/t gold and 70g/t silver from 42.4m; 3m at 6.03g/t gold and 54g/t silver from 52m; 4m at 3.35g/t gold and 90g/t silver from 22m; and 9.82m at 2.46g/t gold and 18g/t silver from 28.1m.

The assays are reported to have confirmed an existing geological resource model over the area in terms of the shape and tenor of mineralisation.

Additional narrow yet significant intercepts not included in the resource model suggest potential for a positive tonnage reconciliation during mining operations.

Enhanced confidence

Managing director Andrew Corbett said drilling had enhanced the company’s confidence in the existing estimate and current mine plan for Pearse North.

“The primary objective of these holes was to collect geotechnical data for open pit wall designs… the high-grade results are a welcome bonus and further support our plans to develop Pearse North as an open pit mine,” he said.

“We are excited about the potential of Pearse North and believe it can significantly contribute to our company’s growth.”

Pit development

The Pearse North pit development is scheduled to commence operations in the first quarter of 2024.

Pearse North and Pearse South will be the initial pits exploited as Kingston transitions from tailings processing to traditional hard rock mining at Mineral Hill.

Historical production at Pearse South totalled 219,000 tonnes at 6.06g/t gold and 64g/t silver for 42,630 ounces gold and 447,907oz silver.

Updated reserves across both targets total 260,000t at 3.7g/t gold and 57g/t silver for 31,000oz of contained gold and 470,000oz silver.