Kin Mining Claims New Gold Discovery at Cardinia Gold Project

THE DRILL SERGEANT: Kin Mining (ASX: KIN) claimed a new shallow gold discovery at the company’s 100 per cent-owned 1.275 million ounce Cardinia Gold Project (CGP) near Leonora in Western Australia.

Kin mining made the claim following drill results achieved by an air-core (AC) drilling program at the Pegasus prospect intersected a zone of shallow, high-grade, gold mineralisation, located adjacent to project’s the 374,000 ounce Bruno-Lewis deposit.

Results include:

4 metres at 10.1 grams per tonne gold from 24m;

8m at 3.08g/t gold from 8m;

4m at 1.61g/t gold from 20m;

4m at 2.25g/t gold from 32m; and

12m at 0.7g/t gold from 4m.

“While still early days, Pegasus appears to be a parallel structure to the adjacent Bruno-Lewis deposit and has all the hallmarks of a significant new discovery in the Cardinia area,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The air-core drilling has so far outlined a substantial mineralised position in the eastern side of the gravity low which heightened our interest when we first reviewed the geophysical data in the September quarter.

“The eastern edge of the Pegasus gravity low contains numerous ore grade hits in shallow drilling within a zone extending over at least 800 metres in length and up to 100 metres wide.

“New intersections such as 4m at 10.1g/t gold and 8m at 3.08g/t gold supported by other previous drilling intersections such as 10m at 3.1g/t and 16m at 1.04g/t nearby at the historical Pride of the North workings indicate to the geological team that Pegasus is a potentially significant mineralised area.

“Given the widespread nature of the ore grade intercepts we have seen in the results returned to date, we will now look forward to the remaining results from the north western extension of the anomaly which are expected to be returned over the next four weeks.”