Kingston Resources shores up confidence at Misima with more gold and silver hits

Kingston Resources ASX KSN Misima project gold silver Papua New Guinea Kulumalia
High-grade silver intervals at Kingston’s Kulumalia target were 2m at 192g/t and 37.4m at 90.9g/t.

Kingston Resources (ASX: KSN) has uncovered more gold and silver during resource drilling at the Kulumalia target within its flagship Misima project in Papua New Guinea, with resource and ore reserve updates due next quarter.

Infill drilling at Kulumalia, which is at the southern end of the main Umuna orebody and outside the current reserve pit shell returned broad intersections of gold and silver.

Notable results were 20.7m at 2.52 grams per tonne gold and 86.1g/t silver from 99.3m; and 17.5m at 2.28g/t gold and 2.5g/t silver from 221.9m.

High-grade silver was also returned adjacent to the Kulumalia with better assays of 2m at 192g/t silver and 0.68g/t gold from 87m, and 37.4m at 90.9g/t silver and 1.5g/t gold from 91.6m.

Drilling at Kulumalia is part of an 8,000m campaign that is designed to upgrade the existing inferred resource, test depth extensions, and confirm historical data.

The company stated the latest result provides “increasing geological confidence” in the existing resource and reserve models, while also identifying mineralisation beneath the current mine plan, but still at relatively shallow depths.

This provides potential for additional mineable material which could have positive implications for the project.

Building Misima value proposition

Kingston managing director Andrew Corbett said the latest intersections build on the encouraging results revealed in March.

These included 10.7m at 1.34g/t gold and 8.10g/t silver, 7m at 1.14g/t gold and 15.71g/t silver, and 9.1m at 1.6g/t gold and 10.52g/t silver.

“This area is shaping up to be an important component of Kingston’s development strategy for Misima,” he said.

“It is particularly pleasing to see some of the deeper holes drilled at Kulumalia to date returning high grade mineralised intervals.”

“This shows that gold mineralisation continues at depth in fresh rock and confirms that Kulumalia is more than just a source of shallow oxide ore – it is an extremely well-mineralised component of the main Umuna trend.”

Mr Corbett added the company’s geological team was doing a “great job” in de-risking the project and adding value.

These results and the remainder from the program will feed into updated resource and reserve estimates due for release in the September quarter.

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