THE BOURSE WHISPERER: Kin Mining (ASX: KIN) has embarked upon a land tenure application and acquisition frenzy surrounding the company’s Leonora gold project (LGP) in Western Australia.
Kin Mining lodged applications with the WA Department of Mines and Petroleum to consolidate its tenure at and surrounding the LGP as well as finalising the acquisition of tenements from Kazoo Nominees, and the remaining 20 per cent interest from Jindalee Resources (ASX: JRL) and Mr Vladimir Nikolaenko at the Cardinia Mining Centre.
Cardinia – Mertondale Link
Kin mining has applied for 14 new prospecting licences covering an approximate area of 2,757 hectares linking the LGP areas from North to South.
“The new applications provide continuous tenure for Kin between the Mertondale and Cardinia Mining Centres,” Kin Mining said in its ASX announcement.
“Both Mining Centres contain greater than 100,000 ounces of gold and the region between these two centres is considered to be excellent exploration tenure.”
South of Cardinia
Kin has applied for 13 new prospecting Licences covering an approximate area of 2,274ha south of the Lewis deposit in the Cardinia Mining Centre which are strategic to the current holdings in the area.
“The new applications secure for Kin the southerly strike extensions of the geological formations that host gold mineralisation at the Cardinia Mining Centre,” the company said.
“A number of the new leases adjoin the Mining Leases held by Kin which contain the Helens-Rangoon Mineralised Corridor.”
Gambier Lass Extension
Kin has applied for 22 new prospecting Licences covering an approximate area of 4,260ha, immediately adjacent to the Gambier Lass Mining Lease, and secure an area along strike to the south-east of this gold deposit.
Kin has acquired eight prospecting licences within the Mertondale-Cardinia link area from Kazoo Nominees for $8,000, with Kazoo retaining the rights to alluvial gold within the tenements.
This tenement package consists of two separate blocks covering an approximate area of 1,579ha.
“The group of tenements in the north potentially contains the southern strike extension of the Mertondale Shear Zone, which hosts the company’s Mertondale Mineral Resources (395,000 ounces of contained gold),” Kin said.
“The group of tenements in the south immediately adjoin Kin’s Mining Leases of the Cardinia Mining Centre.
“The leases are of exploration interest, due to the fact that Kin is aware of gold mineralisation extending up to the boundary of the Mining Leases where they adjoin the newly acquired tenements.
Kin has applied for nine new prospecting licences covering an approximate area of 1,717ha, adjoining the existing Kin tenement block at Randwick, and surround the historic Randwick Mine, from which over 10,000 ounces of gold are historically reported to have been recovered.
The new tenements also contain several historic workings for which there do not appear to be production records.
Kin Mining’s 100 per cent-owned subsidiary, Navigator Mining has agreed terms with Jindalee Resources (11%) (Jindalee) and Mr Vladimir Nikolaenko (9%) (Nikolaenko) to acquire the remaining 20 per cent interest in five tenements that form part of the Cardinia Project Area.
“This acquisition secures for Kin the area along strike to the south of the high-grade primary gold mineralisation recently discovered at Lewis,” the company explained.
“The southern tenements…also contain the Pride of the North historic workings, which are reported to have produced 45 ounces Au from just 5.3 tons of ore.”