Kin Mining (ASX:KIN) - Chairman, Joe Graziano
Chairman, Joe Graziano
Source: Kin Mining
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  • Kin Mining (KIN) confirms a new gold discovery at the Pegasus prospect at its Cardinia gold project in Western Australia
  • Results have been received from 27 reverse circulation holes drilled to test the 2021 aircore results and confirm the geological interpretation of the mineralisation
  • Up to 17.1 grams per tonne (g/t) gold was intersected and the results confirm a significant new zone of shallow, high-grade gold mineralisation
  • Deeper RC drilling has been planned for the September quarter to infill more prospective parts of Pegasus and establish a JORC mineral resource
  • Kin Mining is up 2.56 per cent with shares trading at 8 cents at 12:19 pm AEST

Kin Mining (KIN) has confirmed a new gold discovery at the Pegasus prospect at its Cardinia gold project in Western Australia.

Results have been received from reverse circulation (RC) undertaken earlier in the year below shallow aircore results reported in April.

A total of 27 RC holes, for 2245 metres, were drilled to test the 2021 aircore results with broad spacing and confirm the geological interpretation of the mineralisation.

Better results include one metre at 17.1 grams per tonne (g/t) gold from 31 metres, two metres at 12.2 g/t gold from 45 metres and two metres at 5.04 g/t gold from 22 metres.

These results support and verify the initial results reported and confirm a significant new zone of shallow, high-grade gold mineralisation — representing a target for follow-up exploration.

Further, the results have confirmed the mineralisation is associated with anomalous silver, copper, zinc and tungsten.

Deeper RC drilling has been planned for the September quarter to infill more prospective parts of Pegasus and establish a JORC mineral resource.

“We can now confirm Pegasus as a new primary gold discovery at Cardinia, sitting at the southern end of what is emerging as a much larger mineralised system along the Western Corridor,” Managing Director Andrew Munckton said.

“RC drilling has confirmed that Pegasus contains several narrow, high-grade gold lodes associated with broader east-dipping zones of sulphide mineralisation similar to those encountered at the 374,000 ounce Bruno-Lewis deposit further north.

“Given the widespread nature of the ore grade intercepts and the proximity of this exciting new area to existing resources, we intend to prioritise Pegasus for deeper RC drilling that is scheduled to commence in the September quarter.”

Kin Mining was up 2.56 per cent with shares trading at 8 cents at 12:19 pm AEST.

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