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Kin Mining Completes Sale of WA Gold Deposits to Genesis Minerals

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) completed the sale of selected gold deposits within the company’s Cardinia gold project in Western Australia to Genesis Minerals (ASX: GMD).

Kin Mining first announced the deal was to be done in December 2023 when it agreed to sell the tenements hosting the Bruno, Lewis, Kyte and Raeside deposits, which collectively contain JORC compliant Mineral Resources totaling 610,000 ounces, to Genesis for consideration comprising $15 million in cash and approx. 22 million un-escrowed Genesis shares based on a 5-day VWAP at the time, valued at $38.5 million.

The total transaction of $53.5 million means Kin is now well-funded with $80 million in cash and liquid assets (assuming a GMD share price of $1.615ps), which the company indicated will assist in its pursuit of a range of strategic opportunities.

“We are very pleased to announce the completion of this transformative transaction, which crystallises significant value for our shareholders from the company’s efforts over the years to build a substantial resource inventory at the Cardinia gold project,” Kin Mining executive chairman Rowan Johnston said in the company’s ASX announcement.

“Kin is now in an enviable position in the junior resources space, with a very strong balance sheet and the ability to move forward with a range of exciting strategic opportunities.

“In the near term, we are excited to be drilling and testing the newly discovered VHMS horizons at Cardinia and then moving on with commencing drilling for deeper and higher grade gold targets.”

 

 

Kin Mining Air-Core Results Extend Eastern Corridor

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported receipt of the final batch of assays from recent air-core (AC) drilling in the Eastern Corridor area of the company’s 100 per cent-owned Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining said the assays complement previously reported AC drilling results from the Collymore prospect in 2020 and results from a recently completed extensional AC program.

The company declared the latest results provide further evidence of an extensive, continuously mineralised corridor spanning the entire five kilometres strike extent between the Cardinia Hill, Helens, Rangoon and Collymore prospects.

The latest results include intercepts interpreted to have defined extensions to two parallel mineralised trends north of Rangoon in the Eastern Corridor.

KIN has interpreted results from between Rangoon and Collymore to have confirmed the continuity of the mineralised structures between the Rangoon deposit and the Collymore prospect.

This has been determined from intercepts such as:

CR23AC415
16 metres at 0.57 grams per tonne gold from 56m; and

CR23AC419
6m at 0.81g/t gold from 60m to EOH.

“We are pleased with the consistently strong results generated from the recent air-core drilling program, following on from the initial results released on 1 June between Rangoon and Collymore and further results released on 13 June between Helens East and Cardinia Hill,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“These latest results confirm that a number of newly discovered mineralised positions within the Eastern Corridor have geological continuity of mineralisation, confirming these areas as priority targets for follow-up RC drilling and highlighting extensions to previously intersected quartz pyrite mineralisation.

“These results have very similar characteristics to those seen at all deposits within the Eastern Corridor – where the combination of anomalous soil geochemistry at surface followed by broad-spaced, ore grade AC results in the oxide and regolith zone in the right geological environment has frequently led to the discovery of sizeable gold deposits at depth when tested with RC and diamond drilling.

“Based on these similarities, we’re very much looking forward to testing the emerging additional mineralised positions with deeper drilling.

“The Eastern Corridor – where Kin has focused most of its exploration efforts over the last 18 months – is emerging as a large, multi-faceted mineralised gold camp.

“It already hosts a very significant mineralised position, with Mineral Resources totalling 475,000 ounces at 1.42 grams per tonne defined so far, mainly at the Helens-Rangoon, Helens East and Cardinia Hill deposits, the three most recent discoveries.

“With these latest results suggesting that the two kilometres strike extent between Collymore and Rangoon may be continuously mineralised – opening up the possibility of significant additional targets along this corridor – we believe that the growth potential in this area for more discoveries of similar size and grade is exceptional.”

 

 

 

Kin Mining Drills More High-Grade Potential at Cardinia

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) continues to encounter gold hits while drilling at the company’s 100 per cent-owned Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining carried out further Reverse Circulation (RC) drilling in February at the CGP targeting a recently-identified high-grade exploration opportunity along the Eastern Corridor.

RC drilling along the Helens East Fault intersected a strongly mineralised zone of vein-style quartz-sulphide mineralisation over a strike length of approximately 1km, associated with the Helens East Fault position.

Results include:

HE23RC055
21 metres at 1.9 grams per tonne gold from 103m, including 2m at 5.98g/t gold from 122m;

HE23RC059
5m at 2.6g/t gold from 111m; and

HE23RC056
1m at 15.2g/t gold from 63m.

Kin Mining considers the Helens East Fault to be a second mineralised structure, running parallel to the Helens-Rangoon Fault, which forms part of the Eastern Corridor series of deposits at Cardinia.

The Eastern Corridor has been a major focus for Kin’s exploration activities over the past 12-18 months.

“Our exploration strategy targeting the emerging high-grade potential along the Eastern Corridor is rapidly gaining momentum,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“These latest assays build on the strong results reported earlier this year and show that there is an exciting new exploration opportunity based on a high-grade lode style of mineralisation at Cardinia, located below and along strike to some of our existing shallow deposits.

“These results show that the Helens East Fault is a significant structure, hosting high-grade gold mineralisation over a strike length of approximately one kilometre and extending to at least 200 metres below surface, which runs parallel to the Helens-Rangoon Fault.

“We now know that the Eastern Corridor hosts a number of significant structures including the Helens-Rangoon Fault, the Helens East Fault and the Cardinia Hill Fault containing several yet-to-be drilled targets where narrow, high-grade quartz-sulphide lodes persist to significant depths as part of a large mineralised system.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Kin Mining Commences New Drilling Program Targeting Growth & Discoveries

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) has kicked off a new phase of drilling at the company’s 100 per cent-owned Cardinia gold project (CGP), located near Leonora in Western Australia.

Kin Mining is to undertake a multi-phase program of 60 RC drill holes across six target areas focused within what it considers to be the project’s “highly prospective” Eastern Corridor.

The company confirmed the Eastern Corridor via earlier drilling programs to be a series of parallel faults containing high-grade mineralisation along an extensive interconnected structural system with serious depth potential.

Drilling will in-fill and test between Mineral Resources spread along three main geological structures within the Eastern Corridor, as well as provide an initial test of the newly-discovered Mystery Fault.

“Building on the exciting results generated towards the end of last year, we see considerable untested opportunity across the broader project, with the highly mineralised Eastern Corridor displaying all the hallmarks of a major mineralised position where we have only just scratched the surface,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“We know that the Eastern Corridor hosts three significant structures – the Helens-Rangoon Fault, Helens East Fault and the Cardinia Hill Fault – each of which contain several high-grade quartz-sulphide lodes that persist to significant depths.

“We have also previously confirmed the presence of other mineralised zones in the area, which present compelling opportunities for new discoveries.

“We believe the Eastern Corridor is a significant gold mineralised system, which is yet to reveal its best deposits.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Kin Mining Continues Growth Potential with Results from Helens East

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THE DRILL SERGEANT: Kin Mining has added further potential to the company’s 100 per cent-owned 1.4 million ounces Cardinia Gold Project (CGP) near Leonora in Western Australia.

Kin mining reported assay results from Reverse Circulation (RC) drilling completed towards the end of last year at CGP targeting a new high-grade exploration opportunity along the Eastern Corridor.

The company said the drilling had confirmed the presence of higher-grade, quartz-sulphide lode style mineralisation below and along strike from shallow 35,000 ounces Mineral Resources at Fiona, within an emerging high-grade structure known as the Helens East Fault.

This newly identified quartz-sulphide vein-style mineralisation remains open in all directions along strike and down-dip with the potential for the current one kilometre strike length to extend up to two kilometres with further drilling below a defined gold-in-soil anomaly.

“Our exploration strategy targeting high-grade potential along the Eastern Corridor is rapidly gaining momentum,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“These latest assays build on the strong results reported earlier this month and show that there is an exciting new exploration opportunity based on a high-grade lode style of mineralisation at Cardinia, located below and along strike to some of our existing shallow deposits.

“Confirming the presence and continuity of high-grade mineralised zones opens up an important new avenue for our exploration team to target new, high-grade discoveries within the Eastern Corridor, complementing the shallower, bulk style resources which we have already defined.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

 

 

Kin Mining Drilling Highlights Cardinia Growth Potential

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) declared a healthy start to diamond drilling being undertaken as part of the next phase of exploration and resource growth at the company’s 100 per cent-owned Cardinia Gold Project (CGP), located near Leonora in Western Australia.

Kin Mining recently commenced a deep diamond drilling program to evaluate a number of IP geophysical anomalies located below the Helens, Helens East, Cardinia Hill and Rangoon deposits within the Eastern Corridor.

A total of five separate targets have been identified and are being systematically tested with a series of approximately 350m deep diamond holes.

Three holes have been completed to date with drill hole IP001 intersecting visible free gold at 104.7 metres down-hole in new mineralised position east of the Rangoon Fault.

Drill hole IP001 also encountered a broad 13m zone of sericite-carbonate with disseminated pyrite mineralisation at 266m down-hole, below the Helen-Rangoon fault and in an untested area between Helens and Rangoon deposits, and similar in style to the high-grade areas of Rangoon.

“We have made an outstanding start to the current diamond drill program, which is designed to test the first generation of deeper targets at Cardinia potentially to uncover new large-scale discoveries within the exciting Eastern Corridor,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The first of three diamond holes, which were collared to test a series of Induced Polarisation (IP) anomalies, have intersected significant zones of mineralisation in the targeted position.

“Hole IP001 also intersected visible free gold in a new mineralised position, which is highly encouraging and rare in the Cardinia area.

“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.

“The upside potential for the project is substantial!”

 

 

 

Web: www.kinmining.com.au

 

Kin Mining Deep Diamond Drilling Large-Scale Gold Targets

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) has kicked off its next phase of exploration and resource growth drilling at the company’s 100 per cent-owned 1.41 million ounces Cardinia Gold Project (CGP), located near Leonora in Western Australia.

Kin Mining has commenced an initial deep diamond drilling program to evaluate Induced Polarisation (IP) geophysical anomalies located below the Helens, Helens East, Cardinia Hill and Rangoon deposits.

A total of five separate targets have been identified and will be tested with a series of approximately 350 metres deep diamond holes into each.

This is the first generation of deeper targets to be tested at Cardinia and represents a big exploration development for the project.

Kin is also ramping up exploration activities elsewhere as part of its ongoing exploration campaign at the CGP.

This will involve a combination of Reverse Circulation (RC) and diamond drilling that is scheduled to commence later this month to further evaluate the under-explored Rangoon area, located within the Eastern Corridor area at Cardinia.

Drilling results from Rangoon and other prospects within this corridor over the past 12 months have reinforced the substantial endowment of the Eastern Corridor as a priority focus for exploration at the CGP.

“The current diamond drill program will test the first generation of deeper targets at Cardinia and continues our efforts to uncover new large-scale discoveries within the exciting Eastern Corridor,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“Preparations are also underway for a new phase of RC and diamond drilling at Rangoon, where we see excellent potential to add to the updated 95,000-ounce resource announced last quarter.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.kinmining.com.au

 

 

Kin Mining Cashed up and Ready to Roll at Cardinia Gold Project

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THE BOURSE WHISPERER: Kin Mining (ASX: KIN) is ready to commence the next stage of development at the company’s 100 per cent-owned Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining’s preparedness comes from the completion of a capital raising of approximately $20.4 million to underpin the next phase of growth at CGP.

The raising comprised a placement of approximately 129.9 million shares at 7.5 cents to raise $9.7 million and a proposed non-renounceable entitlement offer, also at 7.5 cents, to raise an additional $10.7 million.

The company said the funds will strengthen the balance sheet and place it in a strong position to complete the next phase of growth at the CGP.

This will entail following up on new discoveries and targets Kin has identified via exploration campaigns over the past three years that will include the developing discoveries along the Eastern Corridor (Cardinia Hill, East Lynne, Rangoon, Fiona and Helens East) as well as multiple new prospects which have been identified.

“While the past three years have been busy, exciting and rewarding – with nearly 200,000 metres of drilling completed and an additional 494,00 ounces of Mineral Resources added – we know that the company’s properties are located in an exciting and well sought-after mineral field and remain convinced that our tenure will yield further significant discoveries,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The geological and technical advances made across the company’s prospects, particularly at Cardinia, with the use of modern geophysics and detailed geological data collection, has transformed our understanding of the field.

“Armed with this knowledge and our expanding geochemical, geophysical, and drilling database, we believe Kin can continue to identify new, shallow deposits that are the surface expression of larger and higher-grade mineralisation in the underlying fresh rock.

“We have plans to drill significant new targets throughout the next 12 months across a range of established and new prospects, as well as assessing other opportunities within the broader Leonora district.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

 

Kin Mining RC Drilling Extends Cardinia Hill

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported final results from a North Extension RC drilling program completed at the Cardinia Hill prospect with company’s 100 per cent-owned 1.275 million ounce Cardinia gold project (CGP) near Leonora in Western Australia.

The Cardinia Hill prospect is located along strike of the CGP’s 106,000 ounce Cardinia Hill deposit.

Final assay results included intercepts of:

CH22RC192
2 metres at 14.5 grams per tonne gold from 120m;

CH22RC185
4m at 2.79g/t gold from 96m;

CH22RC188
1m at 6.11g/t gold from 63m; and

CH22RC203
1m at 7.17g/t gold from 50m. – open to the north

Kin Mining declared the new assay results support and reinforce earlier reported results from the nearby Rangoon deposits that confirmed deposits within the Eastern Corridor, including Cardinia Hill, Helens, Fiona, Rangoon and East Lynne to form a coherent mineralised system that spans an area of approximately 5km by 1km.

“These results from the northern extension drilling of the Cardinia Hill deposit provide confirmation that Cardinia Hill high grade gold lodes can be traced for over 1.1 kilometres and remain open to the north and at depth,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The next significant drilling along the Cardinia Hill structure is at East Lynne approximately 600 metres north where previous Aircore drilling intersected exceptional grades (5m at 35g/t gold).

“The exploration team are now assessing, with a small additional RC drilling program at East Lynne, if the two deposits lie on the same mineralised structure and may be continuous.

“These Cardinia Hill results combined with recent high-grade results from Rangoon, Fiona and historical drilling at the nearby Helens deposit demonstrate that the Eastern Corridor area is strongly endowed with multiple structurally controlled ore positions, all of which contain high-grade sulphide and quartz vein mineralisation that has a common source.

“The company has only drilled the near surface environment at the Eastern Corridor and believe with further drilling supported by our advanced geological understanding and aided by our detailed gravity model that further significant mineralised positions in this exciting area will be revealed.

“Given the widespread nature of the ore grade intercepts and the near-by location of this exciting area to the Cardinia plant site, we have prioritised for deeper RC drilling the Eastern Corridor which has already commenced at Rangoon and East Lynne.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Kin Mining Confirms Mt Flora Gold Discovery

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THE DRILL SERGEANT: Kin Mining (ASX: KIN) will be eager to chat at the 2022 RIU Explorers Conference next week having received assay results from the first eight reverse circulation (RC) drill holes completed at the Mount Flora project, located 20 kilometres east of the company’s 100 per cent‐owned 1.28-million-ounce Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining declared the drilling confirmed the presence of a high‐grade primary gold system beneath previous air‐core drilling, which it described as a “significant development”, as it provides further confidence in the potential of the emerging Mt Flora discovery.

Assays for the first eight RC drill holes targeting the primary zone at Mt Flora, included:

MF21RC017
18 metres at 1.57 grams per tonne gold from 119m, including 4m at 2.23g/t gold from 119m and 2m at 5.65g/t gold from 135m; and

MF21RC026
22m at 0.86g/t gold from 102m, including 3m at 2.4g/t gold from 102m and 2m at 2.35g/t gold from 122m.

“We’re building an increasingly detailed understanding of the mineralisation at Mt Flora, with these initial RC holes providing further confirmation of the deeper, primary gold mineralisation as well as enhancing our broader geological model,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“These latest results support our view that the Mt Flora Eastern Zone contains several mineralised lodes, providing further confirmation of Mt Flora’s potential to emerge as an important new gold discovery 20 kilometres east of the main Cardinia Gold Project.

“Assays are now eagerly awaited for the remaining 2,083 metres of RC drilling completed at Mt Flora as part of this program to confirm the extent of the high‐grade mineralisation in both the near‐surface and primary environment to the north and south of section 6817710mN.

“Visual inspection of the RC drill chips shows that the drilling has successfully intersected the interpreted zones of mineralisation, with sulphide and scheelite logged in numerous holes.”

 

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au