New drill results at Kin Mining’s Pegasus prospect highlight ‘emerging gold discovery’ at Cardinia

Kin Mining ASX Pegasus gold Cardinia
Aircore drilling results have identified a shallow zone similar to Kin Mining’s 374,000oz Bruno-Lewis gold deposit.

A new shallow zone of gold mineralisation has been confirmed by Kin Mining (ASX: KIN) after final aircore drill results reveal the Pegasus prospect will add gold potential to the company’s flagship Cardinia project in Western Australia.

Drilling at the north-western end of Cardinia has shown a 900m-long shallow zone that is geologically similar to the company’s 374,000-ounce cornerstone Bruno-Lewis deposit, which is adjacent to Pegasus.

The final 4m composite assays include 4m at 1.41 grams per tonne gold and 4m at 1.48g/t from surface, 4m at 2.61g/t from 12m, and a separate zone returning 2m at 0.55g/t gold from 24m to end of hole.

This comes on top of previous November results from Pegasus that included 4m at 10.1g/t, 8m at 3.08g/t and 4m at 2.25g/t gold.

Cardinia, with a current mineral resource estimate of 1.275 million ounces, is located near the Leonora mining centre.

Pegasus may be parallel structure to Bruno-Lewis deposit

The company says the results are coincident with shallow northeast-dipping sulphide mineralisation in mafic rocks.

“The mineralisation appears similar to the nearby Bruno lodes at the Bruno-Lewis deposit,” it added.

Kin managing director Andrew Munckton said the now complete batch of aircore data, including the high-grade drilling results reported in November, shows that Pegasus comprises a shallow zone of gold mineralisation extending over a strike length of “at least” 900m, and up to 100m wide.

“Pegasus appears to form part of a parallel structure adjacent to the Bruno-Lewis deposit,” he added.

“The proximity of this mineralisation to a significant gravity low confirms that our exploration target methodology is working.”

RC drilling at Pegasus scheduled for March

Mr Munckton said that, given the widespread nature of the ore grade intercepts and the nearby location of this new area, Kin intends to prioritise Pegasus for reverse circulation drilling.

That program will begin next month.

Pegasus lies to the northwest of previous drilling associated with testing ground around the historic Pride of the North workings.

Pegasus was first identified as a soil geochemical anomaly after widespread auger sampling in 2020.

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