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Kingston Resources (ASX:KSN) - Managing Director, Andrew Corbett
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  • Kingston Resources (KSN) has announced recent assays from drilling at the Ewatinona deposit have returned significant zones of mineralisation
  • This drilling program was aimed at defining mineralisation as well as expand Ewatinona’s current 220,000 ounces Inferred Mineral Resource
  • The Resource update is expected in the June 2020 quarter and is hoped to upgrade from the Inferred to Measured and Indicated categories
  • Assays remain pending for several holes drilled to the east of the Ewatinona Resource
  • Kingston is up 13.6 per cent and shares are trading for 12.5 cents

Kingston Resources (KSN) has reported recent assays from resource definition drilling at the Ewatinona deposit have returned significant zones of mineralisation.

The Ewatinona deposit is located within the 2.8 million ounce Misima Gold Project in Papua New Guinea.

This drilling program was aimed at defining shallow starter pit mineralisation to provide mill feed in the early stages of the proposed Misima mining operation.

Latest results include: 16 metres at 2.16g/t gold, 13.5 metres at 1.26g/t gold, 5 metres at 1.35g/t gold from 42 metres, 4 metres at 1.19g/t gold, 2.4 metres at 1.27g/t gold from 96 metres, and 2.1 metres at 2.47g/t gold from 55 metres.

These results build upon the assays from three initial holes that were reported on in early February 2020.

These latest diamond core drill holes are located within the existing 220,000 ounces Ewatinona Inferred Mineral Resource area. Kingston hopes to confirm the existing mineralisation and potentially extend it.

“Resource definition drilling at Ewatinona continues to deliver excellent drilling results that are expected to have a positive impact on the impending Resource update,” Managing Director Andrew Corbett said.

“Ewatinona is now clearly emerging as an ideal opportunity for a starter pit, with an existing 220koz Resource, strong potential for growth, and proximity to infrastructure,” he added.

Results from this drilling will be incorporated into a Resource update, which is expected to be delivered during this quarter.

The Resource update will also aim to convert Ewatinona’s Inferred Resource to the Measured and Indicated categories. This will allow it to be converted to Ore Reserves after a pre-feasibility study.

The remaining Phase 2 diamond drill holes lie along strike to the east and northwest and down-dip below the Ewatinona pit. Assays are pending for several holes drilled to the east of the Ewatinona Resource.

Kingston is up 13.6 per cent and shares are trading for 12.5 cents each at 3:37 pm AEDT.

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