Kingston Resources receives government grant to progress Mineral Hill copper-gold project
新南威尔士州政府拨款将共同资助 Mineral Hill 的 Southern Ore Zone地下矿床的可行性研究工作。
Kingston Resources (ASX: KSN) has received a $500,000 grant from the New South Wales Government for feasibility studies at its Mineral Hill copper-gold project.
The grant was provided as part of the government’s $130 million Critical Minerals and High-Tech Metals Activation Fund designed to accelerate investment and help position the state as a premier mining destination.
Critical minerals have been determined as crucial to future technologies such as advanced manufacturing, aerospace, ag-tech and renewables.
Kingston’s grant will be put towards feasibility work at the historic Southern Ore Zone (SOZ) underground deposit including geology, geotechnical studies, metallurgy, mine design, and power and water management.
Managing director Andrew Corbett said the government’s funding initiative was an important part of supporting projects state-wide.
“Government policies like are essential to promoting development of new industries and we look forward to doing our part on the ground here in central west NSW,” he said.
“With this funding now secured, our work on finalising the Mineral Hill five-year plan is advancing rapidly.”
Record gold production
Today’s grant follows the October achievement of record gold production from Mineral Hill.
Gold output for the month reached 1,332 ounces, with sales at an all-time high of 1,390oz.
It was attributed to record gold recoveries and mining reaching an annualised rate of 690,000t.
Kingston is currently processing tailings at Mineral Hill, while it firms up resources and reserves across major targets.
“We are pleased to see recoveries improve as we move deeper into the tailings storage facility … sustaining strong rates of production despite very challenging operating conditions,” Mr Hill said at the time.
Tailings production at the mine is expected to continue into 2024, followed by mining at the Pearse South and Pearse North open pits and SOZ.
To sustain longer-term output, Kingston also plans to develop open pit targets at Jacks Hut, Missing Link and Parkers Hill.