Visible gold in Cardinia drilling points to growth potential for Kin Mining
Kin Mining managing director Andrew Munckton says unearthing visible gold is an “outstanding start” to the company’s five hole diamond drilling program across Cardinia’s Eastern Corridor.
The first drill hole in a new program at Cardinia, owned by Kin Mining (ASX: KIN), has intersected visible free gold 104.7m down hole in a new mineralised zone at the flagship project.
The intersection, east of the Rangoon fault, highlights the growth potential of Kin’s 1.4-million-ounce Cardinia gold project, located near Leonora in Western Australia, the company says.
A five-hole diamond drilling program is targeting anomalies identified by an induced polarisation (IP) survey along the project’s Eastern Corridor, with three holes completed so far.
Apart from the visible gold, the first hole also intersected a broad 13m zone with disseminated pyrite at 266m down hole, in an untested area between the company’s Helens and Rangoon deposits, and similar in style to Rangoon.
While still early days, results so far ‘encouraging’
Kin managing director Andrew Munckton said the company had made an “outstanding” start to its diamond drilling program.
The aim is, by the first generation of deeper targets, to uncover new large-scale discoveries within the Eastern Corridor of the Cardinia project.
“While it’s still early days, the results are very encouraging and show that IP works very well at mapping buried sulphide zones in the Eastern Corridor,” Mr Munckton added.
“The upside potential for the project is substantial.”
Number of prospects along the Eastern Corridor
The deeper IP targets were generated by re-processing data from historical surveys carried out in 2013 by the former Navigator Resources.
These five targets are being drilled to 350m.
The Eastern Corridor program is aimed at increasing the geological understanding of a number of prospects located along it. The corridor includes Cardinia Hill, Helens, Fiona and Rangoon.
Mineralisation within the Eastern Corridor is situated within the north-south striking fault zones which pass through the area, cross-cutting stratigraphy and typically hosting gold results, Kin said.
This is the first generation of deeper targets to be tested at Cardinia and, the company adds, represents a “significant” exploration development for the project.