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Kin Mining Encouraged by Shallow Gold Hits at Cardinia

THE DRILL SERGEANT: Kin Mining (ASX: KIN) informed the market it has been encouraged by recent results from ongoing exploration drilling programs at the company’s 100 per cent-owned Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining took receipt of initial assay results from Reverse Circulation (RC) drilling at the Cardinia Hill prospect and from air-core (AC) drilling at the Helens East prospects, both of which are located approximately 2.5 kilometres east of its proposed processing plant site at the CGP.

Kin Mining commenced drilling at Cardinia Hill, Helens East and Helens South prospects in March as part of a Phase 2 program designed to in-fill and extend the mineralisation it had previously encountered at the Cardinia Hill, Comedy King and Lewis East prospects.

First five RC holes all intersect ore grade mineralisation at Cardinia Hill, including:

CH20RC030
15 metres at 4.42 grams per tonne gold from 34m;

CH20RC028
17m at 3.29g/t gold from 10m;

CH20RC026
11m at 1.56g/t gold from 48m;

CH20RC027
5m at 3.06g/t gold from 53m and 7m at 1.83g/t gold from 94m; and

CH20RC029
6m at 2.28g/t gold from 52m and 4m at 1.92g/t gold from 70m.

Zones of shallow gold mineralisation were intersected in numerous air-core holes at Helens East, adjacent to Cardinia Hill.

Intersections from 4m composite sampling from the first three lines include:

HE20AC140
6m at 2.05g/t gold from 28m;

HE20AC191
12m at 1.06g/t gold from 0m; and

HE20AC221
33m at 1.08g/t gold from 0m.

The company is now waiting on assays for three lines of AC drilling at Helens South.

“These are some of the best results we have seen to date as part of our strategy to unlock the broader exploration potential of the Cardinia gold project, highlighting the opportunity to make substantial new gold discoveries in areas outside of the existing Mineral Resources,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The RC drilling program that commenced in March has delivered some outstanding intersections, characterised by sulphide mineralisation and alteration in all eight holes completed to date at Cardinia Hill.

“The sulphide-rich intersections and accompanying alteration zones in the first five holes have now returned broad widths of high-grade gold mineralisation with a distinctive suite of indicator minerals.

“Ore grade intersections have been encountered from close to surface and up to 100 metres below surface, indicating the potential to extend this style of mineralisation to considerable depth.

“In addition, the Cardinia Hill mineralisation has now been intersected in RC and AC drilling over a strike length of approximately 500 metres, and it remains open in all directions indicating the extensive nature of this style of mineralisation.

“The Phase 2 AC drilling program that commenced at Helens East and Helens South spans an area of approximately one kilometre by 2.5 kilometres sitting between the Helens and Cardinia Hill mineralised positions.

“The Helens East Aircore program consists of three lines of drilling at 200 metre line spacing.

“Assays have been returned for these initial lines and have yielded numerous anomalous zones worthy of follow up and ore grade zones of mineralisation in several holes.

“We are now looking forward to the return of the remaining Helens South AC results in coming weeks, which should allow us to prioritise which zones to test further with RC drilling.

“The discovery of high-grade mineralisation at Cardinia Hill and the expanding footprint of mineralisation at Helens East are both indicative of the potential for a very large mineralised system within the company’s Cardinia holdings.

“The mineralised system appears to be strongly sulphide associated and be controlled by the emerging Helens Fault and Lewis Fault structures.

“Our geological team now has a solid understanding of the controls on mineralisation and the part that the Helens Fault and Lewis Fault play in the distribution of gold at Cardinia.

“We are now exploring the area for large bodies of high-grade gold mineralisation and we continue to apply a systematic approach to their discovery and assessment.”

 

Email: info@kinmining.com.au

Web: www.kinmining.com.au

 

Kin Mining Returns Further High-Grade Cardinia Results

THE DRILL SERGEANT: Kin Mining (ASX: KIN) received final results from drilling undertaken at the company’s Cardinia gold project (CGP) near Leonora in Western Australia.

Kin Mining said the results came from one-metre split samples collected at Lewis East and Lewis West and were generated from an aircore (AC) drilling program completed in December 2019.

The company explained the 1m samples were collected from 4m composite samples greater than 0.1 grams per tonne gold, to allow for better definition of the mineralised zones.

Highlights included near-surface, high-grade zones of gold mineralisation confirmed at Lewis East of:

LE19AC036
11 metres at 3.85 grams per tonne gold from 24m, including 8m at 5g/t gold from 24m;

LE19AC044
6m at 3.63g/t gold from 9m, including 2m at 9.27g/t gold from 10m;

LE19AC034
19m at 1.04g/t gold from 14m, including 5m at 2.28g/t gold from 26m.

The drilling also confirmed low grade zones along controlling structures Lewis West, including:

LW19AC031
1m at 3.24g/t gold from 10m.

Kin mining interpreted the Lewis East results have added to previously released results and continue to confirm the presence of several lodes of high-grade gold mineralisation, within wider haloes of lower grade.

“The Lewis East mineralisation based on the four-metre composite assays was interpreted to be broad zones of medium grade material with occasional higher grade zones generally in a north east dipping orientation,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The one-metre split sampling has confirmed that the broad medium grade intersections generally contain a narrower, higher grade core of mineralisation displaying vein style pyrite mineralisation surrounded by lower grade disseminated sulphides and alteration.

“The one-metre sampling has helped the geological teams define the controls on the mineralisation more clearly.

“At Lewis East, the higher grade, north east dipping mineralised zones appear to be similar to the Lewis mineralisation located between 500 metres to 1000 metres to the north west within the Bruno-Lewis mineralised system.

“The Lewis East mineralisation occurs directly along strike of the two North east dipping Lewis lodes, which have undergone extensive historical RC and diamond drilling.

“Further RC drilling at Lewis East is planned to test the depth and strike extent of the Lewis East lodes and the potential continuity with the Lewis mineralisation.

“These veins appear to be initiated from north east trending faults associated with the rapidly expanding Lewis Fault system.

“The Lewis Fault system is intimately associated with mineralisation at the Lewis, Lewis East, Nevertire, Black Chief and the Comedy King deposits.

“These deposits are spread over an area covering approximately four-kilometres by two-kilometres and represent a cluster of deposits displaying both high-grade vein and lode style mineralisation and lower grade alteration halo mineralisation, all with a common geological control.”

 

Email: info@kinmining.com.au

Web: www.kinmining.com.au

 

Kin Mining Getting Good Enjoyment from Comedy King

THE DRILL SERGEANT: Kin Mining (ASX: KIN) received final assay results from one-metre split samples at the company’s Cardinia gold project (CGP) in Western Australia.

Kin Mining collected the samples from the Comedy King target, generated from an aircore (AC) drilling program completed in December 2019.

The company explained the 1m samples were collected from 4m composite samples greater than 0.1g/t gold, to allow for better definition of the mineralised zones.

“Our initial interpretation at Comedy King based on the four-metres composite assays was a series of high-grade, narrow mineralised zones striking east-west and dipping to the north,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The one-metre split sampling has supported this view and helped the geological teams interpret the mineralisation more clearly.

“At Comedy King, several quartz sulphide veins exist within broader, lower grade alteration halo mineralisation.

“These veins appear to be initiated from north east trending faults associated with the rapidly expanding Lewis Fault system.

“The Lewis Fault system is intimately associated with mineralisation at the Lewis, Lewis East, Nevertire, Black Chief and now the Comedy King deposits.

“These deposits are spread over an area covering approximately four kilometres by two kilometres and represent a cluster of deposits displaying both high-grade vein and lode style mineralisation and lower grade alteration halo mineralisation, all with a common geological control.

“In addition to the primary mineralisation at Comedy King, aircore drilling has also intersected shallow high-grade mineralisation associated with an interpreted alluvial channel.

“Alluvial channels in the area are extensive and represent an additional near surface exploration target for the company.”

 

Email: info@kinmining.com.au

Web: www.kinmining.com.au

 

Kin Mining Identifies High-Grade Cardinia Mineralised Zones

THE DRILL SERGEANT: Kin Mining (ASX: KIN) received assay results from aircore (AC) drilling undertaken at the company’s Cardinia gold project in Western Australia.

Kin Mining reported receipt of results from one metre split samples generated by AC drilling it completed in December 2019 at the Cardinia project.

The company explained it collected one metre samples from 4m composite samples greater than 0.1 grams per tonne gold to allow for better definition of the mineralised zones.

Kin declared the results continue to confirm the overall grade of the composite samples and have defined high-grade cores within the wider mineralised zones shown in the 4m composite sampling.

The company is now carrying out a full interpretation of all the recent drilling results in conjunction with previous drilling results and has follow up drilling expected to be commencing later in March 2020.

“The aircore drilling program completed in December 2019 was successful at defining three new deposits at Comedy King, Lewis East and Cardinia Hill where wide intersections of gold mineralisation with areas of high-grade were encountered in four metre composite sampling,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The mineralised zones highlighted by four metre composite sampling are now being refined with the one metre sampling.

“At Cardinia Hill, the western half of Comedy King and northern part of Lewis East, a clear pattern is emerging.

“Results have confirmed the higher-grade nature of the mineralisation across generally narrower zones associated with strong alteration, sulphides in the fresh ores and quartz veining.

“The alteration zones around high grade intersections also exhibit mineralisation which is typically lower grade.

“The high-grade zones are being used to enhance the targeting for the upcoming RC drilling program and the proposed step out aircore drilling program scheduled for commencement later this month.

“The success of this first aircore drilling program at defining very significant mineralisation separate to the know deposits at the CGP indicates the Cardinia area contains an abundance of mineralisation that warrants significant drilling.

“There is strong potential to define additional high-grade mineralisation to compliment the Mineral Resources already defined and enhance the economics of the Pre-Feasibility Study completed in August 2019.”

 

Email: info@kinmining.com.au

Web: www.kinmining.com.au

 

Kin Mining Completes Cardinia PFS

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) announced the completion of a Pre-Feasibility Study for the company’s 100 per cent-owned Cardinia gold project in the North-Eastern Goldfields of Western Australia.

Kin Mining claimed the 2019 PFS had confirmed the Cardinia project as being both technically sound and capable of generating solid free cash flows with healthy leverage to the Australian dollar gold price.

The PFS was based on two open pit mining centres at Cardinia and Mertondale which supply a 1.5 million tonnes per annum conventional CIL processing plant centrally located at Cardinia.

The PFS is based on an Ore Reserve Estimate of 7.9 million tonnes at 1.1 grams per tonne gold for 283,000 ounces and a Production Estimate of 11.4 million tonnes at 1.09g/t gold for 398,000 ounces, which delivers a forecast 368,000 ounces of recovered gold.

The Cardinia gold project contains Measured, Indicated and Inferred Mineral Resources of 18.2 million tonnes at 1.44g/t gold for 841,000 ounces of contained gold

“Over the past 12 months Kin has successfully reset the Cardinia Gold Project on a strong foundation of reliable technical and financial estimates which underpin the Pre-Feasibility Study,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The outcomes show we have a project with production potential and significant leverage to the currently strong Australian dollar gold price, however the Board has determined to prioritise opportunities to add higher margin ore feed while development studies continue at an appropriate rate.

“Exploration completed by Kin and previous explorers at the CGP has focused on historic mining centres in areas of surface outcrop.

“Around 60 per cent of the tenement area is located under shallow, transported cover and has been subject to little modern exploration.

“A program of mapping, geochemical sampling and geophysics is under development to target new discoveries in these underexplored parts of proven mining corridors.

““The potential to enhance our mineral inventory through regional consolidation opportunities will also be evaluated given Kin’s location in the active Leonora region with processing infrastructure which has been purchased and partially developed.

“Other alternative strategic options may also be considered.”

 

Email: info@kinmining.com.au

Web: www.kinmining.com.au

 

Kin Mining Completes $2.1M Placement

THE BOURSE WHISPERER: Kin Mining (ASX: KIN) completed a share placement of 42 million shares at five cents per share existing sophisticated shareholders, raising $2.1 million.

Kin Mining said the funding will enable it to complete the Pre-Feasibility Study for the company’s Cardinia gold project and provide additional working capital for the next phase of work on the project assessment after consideration of the PFS outcomes by the Board.

The PFS is due for completion shortly.

“We continue to be encouraged by the support of our major shareholders,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“The additional funding puts Kin in a stronger financial position to finalise the Pre-Feasibility Study for the Cardinia gold project and commence the next phase of project assessment and development work.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Updates Cardinia MRE

THE DRILL SERGEANT: Kin Mining (ASX: KIN) has completed an update of the Mineral Resource Estimates for the company’s Cardinia gold project in Western Australia.

Kin Ming said that all 16 deposits within the project have been reviewed.

Mineral Resources for six deposits have been remodelled, estimated, optimised and reported (Mertons Reward, Mertondale 3-4, Bruno, Lewis, Kyte and Helens).

An additional six Mineral Resources have been re-optimised and reported (Tonto, Mertondale 5, Fiona, Rangoon, Michelangelo and Leonardo).

The remaining four deposits remain unchanged (Eclipse, Quicksilver, Forgotten Four and Krang).

The updated Mineral Resource Estimate for the Cardinia gold project is 17.2 million tonnes of gold mineralisation at a grade of 1.41 grams per tonne gold for 782,000 ounces.

Kin Mining explained the main drivers of the change, compared to the previous estimate of 22.5 million tonnes at a grade of 1.46g/t gold for 1.05 million ounces, are the lower gold price assumption of $2,000 per ounce (previously $2,200 per ounce), updated optimisation parameters including revised open pit wall angles, testwork derived metallurgical recoveries and updated 2019 mining and processing costs.

New geological interpretations have also provided new resource models for the four key deposits of Lewis (incorporating Bruno), Helens, Kyte and Mertondale East (Mertons Reward and Mertondale 3-4).

“The updated Mineral Resource Estimate for the Cardinia gold project provides Kin with a solid foundation to now deliver an updated Ore Reserve Estimate as part of the upcoming PFS to be released later in the current June quarter,” Kin Mining managing director Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“By adopting a more conservative approach across a number of key parameters, including the assumed gold price, the updated resource models can be used to determine the optimal development pathway for the project where risk and reward can be quantified when the modifying factors for the Ore Reserve Estimate are selected.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Confirms Mertondale 5 Pit Down-Plunge Extension

THE DRILL SERGEANT: Kin Mining (ASX: KIN) reported results from recent drilling at the Mertondale 5 deposit, part of the ongoing assessment of development opportunities at the company’s Cardinia gold project in Western Australia.

Kin Mining explained the deeper diamond drilling at Mertondale 5 focused on testing the geological, geotechnical and metallurgical assumptions for mining and interpretation of the deposit and understanding the controls on gold mineralisation.

The company indicated the Mertondale 5 drilling confirmed the orebody extends at depth, returning:

ME19DD001
14 metres at 2.5 grams per tonne gold from 217m; and

ME19DD002
3.8m at 1g/t gold from 279.2m.

The drilling was undertaken as an initial test of the continuity and direction of the interpreted northerly plunging shoot of historically-mined high-grade gold mineralisation and to determine if graphitic shale forms a component of the mineralisation.

“The latest drilling has significantly improved the company’s geological understanding of the Mertondale 5 prospect and will guide the future resource development drilling which will target expansion and category upgrade of the existing Mineral Resources at the deposit,” Kin Mining said in its ASX announcement.

The Mineral Resource Estimate for Mertondale 5 currently stands at 1.03 million tonnes at 1.8g/t gold for 60,000 ounces, consisting of 0.81 million tonnes at 1.83g/t gold of Indicated and 0.22 million tonnes at 1.71g/t gold of Inferred Resources.

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Completes Helens Open Pit Resources Drilling

THE DRILL SERGEANT: Kin Mining (ASX: KIN) announced new results from recent drilling carried out at the Helens prospect, part of the first open pit development proposed at the company’s Cardinia gold project in Western Australia.

Kin mining said the Helens Resource definition drilling has confirmed the location and continuity of the mineralised lodes with results including:

HE19DD292
7.8 metres at 3.4 grams per tonne gold from 13.2m and 3.5m at 2.7g/t gold from 60.5m;

HE18RC293
7.1m at 4.7g/t gold from 45.3m;

HE18DD300
2.4m at 4.1g/t gold from 56.1m; and

HE18RC316
2m at 4.5g/t gold from 18.1m.

The comant declared that an updated Mineral Resource estimate for the Helens deposit is nearing completion along with metallurgical testwork and Feasibilty Stidy final pit design works.

The Helens deposit has a Mineral Resource Estimate of 1.03 million tonnes at 2.14 grams per tonne gold for 70,900 ounces that includes 0.62 million tonnes at 2.18g/t gold for 43,200 ounces of Indicated Resource and 0.41 million tonnes at 2.07g/t gold for 27,700 ounces of Inferred Mineral Resource.

“Resource definition drilling at Helens has focused on confirming the geological interpretation of the deposit and upgrading Inferred Mineral Resources to Indicated Mineral Resources,” Kin Mining said in its ASX announcement.

“This drilling at Helens has shown that the recently updated geology model is robust with all RC and Diamond holes intersecting the target structure(s) and 23 of the 28 holes recording significant lode style mineralisation at the predicted position in the resource model.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au

 

Kin Mining Extends Gold Mineralisation at Helens Deposit

THE DRILL SERGEANT: Kin Mining (ASX: KIN) released results from recent drilling at the Helens deposit, located within the Cardinia Mining Centre of the company’s Leonora gold project (LGP) in Western Australia.

Kin Mining conducted a total of 15 Reverse Circulation (RC) drill holes on the Helens project areas targeting extensions to the thick, high-grade mineralisation Kin intersected in 2017.

The company said the results from the March 2018 drilling have extended the Helens Main Lode mineralisation a further 75 metres south.

Helens Main Lode results included:

HE18RC160
14 metres at 3.08 grams per tonne gold from 88m;

HE18RCD161
8m at 8.6g/t gold from 88m; and

HE18RCD162
13m at 1.48g/t gold from 106m.

Kin said it is waiting to receive assay results from diamond drillholes targeting the Helens Main Lode, adding that mineralisation was intersected in each of these holes and the program provided insight into the continuity of gold-bearing lodes and the structural and lithological controls on the gold mineralisation.

“The recent drilling has indicated the untapped potential for resource growth within the LGP,” Kin Mining CEO Andrew Munckton said in the company’s announcement to the Australian Securities Exchange.

“In late 2017, wide, near surface intersections at above average grade, signalled that the Helens mineralisation continued further south.

“This recent drilling confirms those earlier results and illustrates the continuity of high-grade mineralisation down plunge towards the south.

“In addition, the discovery of new mineralised positions in close proximity to the established mineralisation at Helens indicates that significant opportunity lies ahead.

“The company will continue to target this lightly drilled area of the project.

“The geological team are continuing to develop the mineralising system model across a number of deposits at Cardinia and the increased use of diamond core drilling is proving invaluable in our understanding of the fundamentals of the mineralisation.

“Further work, is continuing.”

 

Email: info@kinmining.com.au

Website: www.kinmining.com.au