Join our daily newsletter At The Bell to receive exclusive market insights
- Kin Mining (KIN) receives “highly encouraging” results from the Rangoon prospect within its Cardinia gold project in WA
- The company drilled 32 holes at the under-explored prospect which is part of the Eastern Corridor mineralised system
- Positively, the results confirm significant zones of shallow, east-dipping mineralisation with wide hits of 43 metres at 1.03 g/t gold including 15 metres at 1.55 g/t gold
- MD Andrew Munckton says the results provide “definitive evidence” of the potential of the Eastern Corridor and further drilling is planned once the remaining assays are received
- Company shares end the day 1.28 per cent in the green to close at 7.9 cents
Kin Mining (KIN) has announced “highly encouraging” results from drilling at the under-explored Rangoon area within its Cardinia gold project (CGP) in WA.
In April, the company completed a 32-hole reverse circulation (RC) drilling program at the Rangoon prospect to better understand the geology of the area to the east of the Helens Fault which is marked by the Helens and Rangoon historical workings.
This work was part of Kin’s Eastern Corridor program which currently covers an area of one kilometre by five kilometres.
The Eastern Corridor contains multiple prospects including Cardinia Hill, Helens, Fiona and Rangoon, which collectively host more than 239,000 ounces of mineral resources and are believed to make up a significantly larger mineralised system on the eastern side of the CGP.
The results confirmed significant zones of shallow, east-dipping mineralisation near-surface and at depth to the east of the Helens Fault position.
Assays include 43 metres at 1.03 grams per tonne (g/t) gold from 39 metres including 15 metres at 1.55 g/t gold from 48 metres, and 31 metres at 1.07 g/t gold from 55 metres including six metres at 3.17 g/t gold from 55 metres.
Drilling has been completed to a depth of 120 metres below surface over roughly 400 metres of strike. Mineralisation remains open along strike to the south and down-dip to the east.
Managing Director Andrew Munckton said the results provide more “definitive evidence” of the Eastern Corridor potential.
“What is important here is the style of mineralisation we have been intersecting and the geometry of the lodes in a predominantly east-dipping orientation,” he said.
“The mineralisation is predominantly primary, sulphide hosted mineralisation, which is easily recognisable and has the same origins as the other mineralisation found along the Eastern Corridor – with similar alteration and pathfinder minerals.
“We continue to see great potential to discover further high-grade lodes, delineate new resources and grow our overall inventory across this corridor, which is a major growth opportunity for the company.”
Assays are pending for 15 RC holes from this program and once they’ve been interpreted, the company plans to conduct further drilling to explore for extensions to the new mineralised zones towards the south and east.
Company shares have ended the day 1.28 per cent in the green to close at 7.9 cents.
