Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kingsrose Mining has received final assay results from its phase 1 drilling program at Talang Santo
  • This phase of drilling aimed to infill and test the extension of gold based on intersections from previous drilling
  • Significant gold mineralisation was found in all holes drilled which has encouraged the company to consider future underground mining
  • Kingsrose is now planning the second phase of drilling to target the high-grade zones
  • The company is down 5.88 per cent, with shares trading for 3.2 cents each

Kingsrose Mining has announced the first phase of deep drilling at Talang Santo has been completed and resulted in positive final assays.

The Phase 1 deep drilling program comprised of 21 drill holes for a total of 7318.2 metres. It was designed to infill and test grade continuity between widely spaced intersections from the 2012 and 2013 drilling campaigns.

These drilling campaigns highlighted the potential for extended high-grade gold mineralisation below the underground mine of Talang Santo.

Talang Santo is an open pit mine located 98 kilometres northwest from Bandar Lampung in Indonesia.

Results of the first 10 holes were reported on November 11 2019.

Encouraging results from the final 11 holes include 4.20 metres at 19.8 grams per tonne of gold from 263.4 metres, 6.30 metres at 16.8 grams per tonne from 308.8 metres, 2.90 metres at 7.77 grams per tonne of gold from 333.1 metres, and 2.95 metres at 6.06 grams per tonne of gold from 336.75 metres.

“The results of this programme are very encouraging and highlight the potential for a return to underground mining at Talang Santo,” CEO Karen O’Neill said.

The outcome of this (and other) drilling programs will allow Kingsrose to determine the potential for future underground mining at the project.

Kingsrose is planning the second phase of deep drilling to extend the known depth and strike extents of these high-grade zones.

Additionally, the company will test other areas along the Main Talang Santo Vein where high-grade intersections from earlier drilling were never followed up.

“With all the assays in, we will move to the next stage in determining the economic and technical merits of further drilling and underground development at Talang Santo,” Karen added.

Kingsrose is down 5.88 per cent, with shares trading for 3.2 cents each at 2:46 pm AEDT.

KRM by the numbers
More From The Market Herald

" AKORA Resources (ASX:AKO) gets pleasing assays from Madagascar project

AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
Carawine Resources (ASX:CWX) - Non Executive Chairman, Will Burbury

" Carawine Resources (ASX:CWX) begins diamond drilling at Red Bull

Carawine Resources (CWX) has begun diamond drilling on two highly significant bedrock conductors at the Red Bull tenement in Western Australia.

" Woomera Mining (ASX:WML) begins Phase 2 drilling at Mt Venn

Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in
Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe

" Challenger Exploration (ASX:CEL) extends mineralisation at Sentazon

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold