THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported remaining results from air-core (AC) drilling program and preliminary observations from the first deep diamond hole completed at the Mount Flora prospect, located 20 kilometres from the company’s 100 per cent-owned 1.23 million ounce Cardinia Gold Project (CGP) near Leonora in Western Australia.
Kin Mining said the latest results include several shallow intercepts across both the Eastern and North-Western zones, which it claims to have confirmed the extent of the near-surface mineralisation at 100m and 200m line spacings.
New results include intercepts such as:
4 metres at 1.01 grams per tonne gold from 48m;
4m at 1.02g/t gold from 24m to bottom-of-hole, located along strike from drill-hole MF21AC522, which intersected 22m at 8.96g/t gold from 24m; and
8m at 2.79g/t gold from 28m.
In addition, Kin completed diamond drill hole MF21DD001 beneath high-grade results achieved from the Eastern Zone.
This hole encountered mineralised positions below the oxidation depth and confirmed the east dip to the structures controlling mineralisation.
Kin Mining considers the confirmation of the presence of a primary gold system beneath the air-core drilling is an important development, providing confidence in the emerging potential of the Mt Flora discovery.
“Having received the balance of assay results from air-core drilling and completed a diamond drill hole beneath our best air-core intercepts of 22 metres at 8.96 gras per tonne and 8 metres at 2.79 grams per tonne, we now have sufficient confidence to say that Mt Flora is confirmed as a significant new gold discovery 20 kilometres east of the main Cardinia Gold Project,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.
“While assays are awaited for the diamond drill hole, visual inspection of the core shows that it has successfully intersected the interpreted down-plunge extension of two zones of high-grade mineralisation seen in air-core drilling.
“This suggests that there is a significant primary gold system beneath the 700 metres long, near surface Eastern Zone mineralisation.
“Further work is required to test beneath the 400 metres long North-Western Zone.”
“Because of the high-grade results generated to date and the continuous nature of the gold mineralisation in the lines of 100 metres spaced AC drilling at the Eastern Zone, this is where we plan to focus our drilling efforts when diamond and RC drilling resumes in October.
“We plan to systematically assess the 700 metres strike length as the foundation for a maiden Mineral Resource estimate before moving onto the North Western Zone.
“One key characteristic of the Mt Flora discovery is that these new zones have never been drill tested before, so if we have further success, the area has the potential to shape up as a completely new source of satellite ore feed to the Cardinia Gold Project – which is an exciting development for our shareholders.”