Join our daily newsletter At The Bell to receive exclusive market insights
- Kin Mining (KIN) has intersected multiple zones of high-grade gold mineralisation at the Eagle-Crow prospect in WA
- All up, 399 aircore holes were drilled to assess the source of a gold anomaly which spans five kilometres in length and 600 metres in width
- Results have been received for 290 holes with grades so far peaking at 8.31g/t gold
- Once all results have been received, Kin will undertake reverse circulation and diamond drilling to confirm the orientation and extensions to the mineralisation
- Kin has ended the day in the grey with shares trading at 12.5 cents
Kin Mining (KIN) has intersected multiple zones of high-grade gold mineralisation at the Eagle-Crow prospect in WA.
Eagle-Crow is part of Kin’s 100 per cent-owned Cardinia Gold Project which lies 10 kilometres southeast of Leonora.
All up 399 aircore holes, for 17,035 metres, were drilled to assess the source of a gold anomaly which extends five kilometres in length and 600 metres in width.
Results have been received for around 78 per cent of the holes drilled, equating to 290 holes.
Best results include four metres at 8.31g/t gold from zero metres, eight metres at 7.9g/t gold from 28 metres and four metres at 4.44g/t gold from zero metres.
Pleasingly, the drilling identified two parallel zones of mineralisation, which highlight the potential for an extensive gold system.
Once the outstanding results have been received, Kin will undertake reverse circulation (RC) and diamond drilling to confirm the orientation and extensions to the mineralisation.
“Given the wide-spaced, reconnaissance and shallow nature of the drilling, these are excellent results considered in the context of the extensive soil geochemical anomaly and the historic workings and rock chip,” Managing Director Andrew Munckton commented.
“We will await the results of the balance of the aircore results before planning an initial phase of RC and diamond drilling to test below the aircore results for the primary source of the mineralisation,” he added.
Kin has ended the day in the grey with shares trading at 12.5 cents in a $99.89 million market cap.
