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Kin Mining Confirms Mt Flora Gold Discovery

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

 

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:

PG21AC144
4 metres at 10.1 grams per tonne gold from 24m;

PG21AC224
8m at 3.08g/t gold from 8m;

PG21AC285
4m at 1.61g/t gold from 20m;

PG21AC290
4m at 2.25g/t gold from 32m; and

PG21AC138
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.”

 

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

 

Kin Mining Rattles the Tin to Raise Exploration Funds for Cardinia Gold Project

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) is looking to maintain momentum at the company’s Cardinia Gold Project (CGP) near Leonora in Western Australia.

Kin Mining announced it will undertake a non-underwritten non renounceable 1-for-6.5 pro-rata Entitlement Offer to raise up to $12.92 million to progress the next phase of exploration at the company’s 100 per cent-owned Cardinia gold project.

The company said the proceeds would be used for its next phase of exploration across established and new prospects at the CGP, as part of an exploration-driven strategy to further expand the project’s 1.28 million ounces inventory and make new discoveries.

The next phase of systematic exploration work will follow up on new discoveries and targets identified as part of Kin Mining’s drilling campaigns completed during 2020 and 2021.

These include the Mt Flora and Iron King discoveries, as well as multiple new prospects that were identified as the company improved its understanding of the geology and potential of the CGP, such as the Eagle and Crow prospects.

“We’ve had considerable success converting our improving geological understanding into exploration results, and then converting those results into additional Mineral Resources,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“At Cardinia Hill, we have successfully added 106,000 ounces of new Mineral Resources, while the Bruno-Lewis Mineral Resource has been expanded by 20 per cent to 374,000 ounces.

“Our systematic approach to exploration has paid off in spades and given us a much better idea of where and how to target the next phase of drilling – which will be designed both to define new resources and to identify additional discoveries with the potential to deliver a step-change in the scale of the project.

“The additional funding will allow us to continue to assess the recent discoveries at Cardinia Hill and follow up on new prospects like Mt Flora, Eagle and Crow – in short to maintain the very strong exploration momentum we have built up over the past two years.

“These other targets have been identified by recent soil geochemistry and modern geophysical surveys over largely untested areas within the highly mineralised Cardinia area.

“We expect this work to generate new follow-up programs of work stretching into 2022.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Kin Mining Denies St Barbara Before Launching Fund Raiser

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) has shaken off a takeover offer to launch a $13 million raising to progress the next phase of exploration at the company’s 100 per cent-owned Cardinia Gold Project (CGP) near Leonora in Western Australia.

Kin Minin revealed it had been subjected to a clandestine non-binding indicative offer (NBIO) from St Barbara (ASX: SBM).

The suitor company had offered to acquire 100 per cent of Kin shares via a Scheme of Arrangement at an implied price of 16 cents per share that was subsequently rejected by Kin Board, which believed the NBIO would not have been approved by the requisite 75 per cent voting majority of Kin’s shareholders.

The NBIO was highly confidential, secret squirrel stuff, being subject to a number of conditions, including no leak or public disclosure of the NBIO, due diligence, the unanimous recommendation of the Kin Board, the execution of a scheme implementation agreement between SBM and Kin containing exclusivity mechanisms, and no further issuance of equity securities by Kin.

“The Kin Board welcomed the continued interest from St Barbara noting that the proposed NBIO price suggests that the current Kin share price is significantly undervalued,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The Kin Board remains focussed on progressing company activities to maximise the value of the company for all shareholders.”

With the St Barbara dust settled, Kin Mining announced its intention to launch an Entitlement Offer, which will be available to all eligible shareholders that will be priced based on recent share trading.

The company indicated the funds raised will provide sufficient working capital to complete the next phase of systematic exploration work at the CGP and to follow up on the new discoveries and targets identified as part of its recent drilling campaigns completed during 2020 and 2021.

These include the emerging discoveries at Mt Flora and Iron King, as well as multiple new prospects which have been identified following t improvements in the company’s understanding of the geology and potential of the CGP such as the Eagle and Crow prospects.

“We’ve had considerable success converting our improving geological understanding into exploration results, and then converting those results into additional Mineral Resources,” Munckton said

“At Cardinia Hill, we have successfully added 106,000 ounces of new Mineral Resources, while the Bruno-Lewis Mineral Resource has been expanded by 20 per cent to 374,000 ounces.

“Our systematic approach to exploration has paid off in spades and given us a much better idea of where and how to target the next phase of drilling – which will be designed both to define new resources and to identify additional discoveries with the potential to deliver a step-change in the value of the project.

“The additional funding will allow us to continue to assess the recent discoveries at Cardinia Hill and follow up on new prospects like Mt Flora, Eagle and Crow – in short to maintain the very strong exploration momentum we have built up over the past two years.

“Other targets across the land package have been identified by recent soil geochemistry and modern geophysical surveys over largely untested areas within the highly mineralised Cardinia area.

“We expect this work to generate new follow-up programs of work stretching into 2022.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

 

Kin Mining Increases Cardinia Hill Deposit Resource

THE DRILL SERGEANT: Kin Mining (ASX: KIN) has updated Mineral Resource Estimate (MRE) for the Cardinia Hill deposit, part of the company’s 100 per cent-owned Cardinia Gold Project (CGP), located near Leonora in Western Australia.

Kin Mining’s updated Mineral Resource Estimate for the Cardinia Hill deposit comes to 2.2 million tonnes at 1.5 grams per tonne gold for 106,000 ounces of contained gold, representing an increase of 45,000 ounces from the previous estimate.

The updated MRE is based on a gold price of $2,600 per ounce, implementing cost guidance from the Pre-Feasibility Study with mining cost assumptions increased from previous optimisations and with a lower cut-off grade of 0.4g/t gold.

The MRE contains a higher-confidence Indicated Resource, which has increased to 38,000 ounces.

The Resource includes a maiden UG Inferred Mineral Resource estimate of 125,000 tonnes at 2.71g/t gold for 11,000 ounces at a 2g/t gold cut-off grade.

Kin mining has further updates pending for multiple deposits across the CGP, which are outside the MRE, including Bruno-Lewis, Eagle-Crow, Mt Flora and Iron King.

The company anticipates to regularly update its Mineral Resource inventory as drilling results are progressively received from its Phase 4 drilling program across the Cardinia Gold Project.

“This is another pleasing update to the Cardinia Hill project Resource, delivering a 72 per cent increase in contained ounces, while also ensuring the project-wide MRE is constrained by optimised pit shells and is based on the latest gold price and operating cost assumptions,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“We are pleased to have delivered a Mineral Resource of over 100,000 ounces for the recently-discovered Cardinia Hill deposit, including a maiden Underground Mineral resource estimate.

“We believe that Cardinia Hill and several of our other deposits hold potential for similar underground estimates where we see strong potential for MRE growth and category upgrades with further drilling.

“We also have a strong pipeline of deposits that are yet to be fully assessed which are outside the latest Mineral Resource Estimate, including Eagle-Crow, Mt Flora, Iron King and further depth extensions to Bruno-Lewis deposit with further updates expected during 2022.”

 

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

 

Kin Mining Confirms Primary Gold Mineralisation at Mt Flora

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:

MF21AC725
4 metres at 1.01 grams per tonne gold from 48m;

MF21AC839
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

MF21AC525
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.”

 

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Kin Mining Eyes Mount Flora as Potential Large Mineralised System

THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported on follow up air-core (AC) drilling undertaken at the Mount Flora prospect, located 20 kilometres from the company’s 100 per cent-owned 1.23 million ounces Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining reported the drilling had intersected zones of shallow, high-grade, gold mineralisation, returning several strong intercepts such as:

MF21AC710
8 metres at 3.75 grams per tonne gold from 32m; and

MF21AC715
16m at 1.16g/t gold from 24m.

These results were encountered along strike from drill-hole MF21AC522 which intersected:

22m at 8.96g/t gold from 24m.

Other results included:

MF21AC524
8m at 2.79g/t gold from 28m.

Kin Mining declared the results confirmed the discovery of an important zone of new mineralisation, which has rapidly elevated the Mount Flora prospect as a priority for the company’s exploration team.

“While still early days, Mt Flora has all the hallmarks of a significant new discovery which is quite different to what we’ve seen in the Cardinia area before,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The aircore drilling has so far outlined a substantial mineralised position in the eastern side of our tenure and an additional smaller zone in the north-west.

“The eastern zone contains numerous ore grade hits in shallow drilling within a zone extending over at least 700 metres in length and up to 150 metres wide.

“New intersections such as 8m at 3.75g/t gold and 16m at 1.16g/t gold support earlier spectacular intersections such as 22m at 8.96g/t gold and 8m at 2.79g/t gold in the first pass of shallow air-core drilling in a new area.

“The eastern zone has been intersected on all eight lines of 100m spaced drilling returned to date and remains open to the north and east – suggesting that this is shaping up as a potential discovery of considerable scale and potential for Kin.

“Given the widespread nature of the ore grade intercepts we have seen, we will now move to a broad-spaced RC and diamond drilling program at Mt Flora as a priority.

“We will be pushing hard to get the first deeper drilling into this area as quickly as possible while we wait for the remaining assays to confirm potential extensions to the eastern mineralisation and the other complementary zones.

“Mount Flora formed part of the original Kin Mining IPO but has had relatively little exploration attention until recently when the regional exploration program commenced.

“This program is targeting potential satellite discoveries which can be complementary to our central Cardinia asset.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Kin Mining Drills Cardinia Gold Project Expansion

THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported results from extended exploration drilling carried out at the company’s Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining completed a program of Reverse Circulation (RC) drilling at the Eagle‐Crow target targeting below previously reported high‐grade air‐core drilling intercepts.

The drilling intersected several zones of shallow, high‐grade gold mineralisation extending over a strike length of 500 metres at Eagle and two zones, each extending over approximately 400m of strike, at the Crow target.

The company said the results reinforce its view that Eagle‐Crow, located 2km west of the CGP, offers potential for an emerging gold discovery on the western side of Cardinia and that the Cardinia Hill trend holds plenty of discovery potential subject to additional drilling.

The highlights reported from the Eagle‐Crow prospect include:

CW21RC013
17 metres at 3.78 grams per tonne gold from 43m, including 4m at 5.45g/t gold from 43m, and 3m at 12.9g/t gold from 54m;

CW21RC011
6m at 4.19g/t gold from 13m;

CW21RC006
3m at 2.03g/t gold from 29m; and

EG21RC446
5m at 3.1g/t gold from 55m.

“The Eagle‐Crow area on the western side of the CGP is continuing to show great promise,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“This is the first deeper RC drilling below the encouraging air‐core intercepts reported earlier this year, and we are very encouraged by the results.

“Drilling has clearly demonstrated the potential for multiple zones of shallow, high‐grade gold mineralisation which require further drilling to confirm their geometry and continuity and lay the foundations for future resource estimation.

“However, we can see clear potential in this area to delineate additional deposits with the potential to make a meaningful future contribution to our Resource inventory.”

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Kin Mining to Commence Cardinia Gold Project Regional Exploration Drilling

THE DRILL SERGEANT: Kin Mining (ASX: KIN) signalled its intentions to step up exploration activity across a number of satellite projects located outside the company’s 1.23 million ounce Cardinia Gold Project (CGP) near Leonora in Western Australia.

Kin Mining owns six separate projects located east and west of the centrally located CGP, which the company has been advancing with a range of exploration activities over the past 12 months including ground-based geophysical surveys, surface auger soil geochemical surveys and first-pass air-core (AC) drilling programs to evaluate their prospectivity.

Upcoming regional exploration activities are to include RC drilling to follow up the recently discovered shallow high-grade gold mineralisation in first-pass air-core (AC) drilling at the Mount Flora prospect, 20km east of Cardinia, where best results included:

MF21AC522
22 metres at 8.96 grams per tonne gold from 24m.

Kin Mining stated the objective of the regional program is to systematically test the wide range of exploration opportunities across the company’s broader tenement holding to determine the potential for new discoveries and emerging satellite or standalone opportunities surrounding the Cardinia Gold Project.

“The purpose of the regional exploration program across the gold-based projects is to provide an initial assessment of the mineralisation style and gold grade and determine whether each project has the potential to be a viable stand-alone project or would more naturally provide potential satellite feed to a future CGP based mining and processing operation,” Kin Mining said in its ASX announcement.

“The key parameters governing these two potential development options is the distance from Cardinia, potential alternative treatment options, project size and mineralisation grade.

“Other projects in the portfolio of tenements also offer nickel sulphide exploration potential and these are being assessed in parallel with the gold project evaluation.”

 

 

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au

 

Kin Mining Drilling Confirms Mt Flora Potential

THE DRILL SERGEANT: Kin Mining (ASX: KIN) released further encouraging assay results from a recently completed air-core (AC) drilling program at the Mount Flora prospect, located 20km from the company’s 100 per cent-owned Cardinia Gold Project (CGP) near Leonora in Western Australia.

Results include:

MF21AC658
8m at 1.04 grams per tonne gold from 24m;

MF21AC623
8m at 0.8g/t gold from 16m;

MF21AC621
4m at 1.17g/t gold from 48m to BOH;

MF21AC624
4m at 1.1g/t gold from 48m;

MF21AC663
4m at 1.04g/t gold from 16m; and

MF21AC610
2m at 1.06g/t gold from 24m to BOH.

Kin Mining said the latest results build on those it reported last week, which included an outstanding high-grade intercept from drill-hole MF21AC522.

The company said the latest results help to delineate additional mineralised trends in the northern portion of the project to those previously identified.

“We are encouraged to see more strong results from this first round of wide-spaced, shallow air-core drilling at Mount Flora, building on the exceptional results announced last week,” Kin Mining managing director Andrew Munckton said in the company’s ASX announcement.

“The drilling has outlined three coherent areas with consistent mineralisation, with this final batch of assays coming from the Northern Area.

“Following last week’s exceptional result of 22 metres at 8.96 grams per tonne we dispatched a field team to follow up this area.

“They have identified a number of north-east trending quartz veins which appear to be the primary control on the mineralisation.

“This area will be a priority focus for initial RC drilling, which we plan to start as soon as POW approvals are received and the rig becomes available from the Phase 4 drill program at Cardinia.”

 

TO READ THE FULL PREVIOUS MT FLORA ANNOUNCEMENT: CLICK HERE

 

Email: info@kinmining.com.au

 

Web: www.kinmining.com.au