Total
0
Shares
Kingston Resources (ASX:KSN) - Managing Director, Andrew Corbett
Managing Director, Andrew Corbett
Source: HotCopper
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Kingston Resources (KSN) has received outstanding high-grade channel sampling results from the Ewatinona deposit at the Misima Gold Project in Papua New Guinea
  • Results from this program peaked as high as 15.58 grammes per tonne gold
  • The results are highly encouraging as they confirm the mineralised trends as well as gold mineralisation at the deposit
  • Kingston is now on track to complete a resource update for the Misima Project, which is expected to be released in the June quarter
  • It is believed that drilling will restart once COVID-19 restrictions are lifted
  • Kingston is up a steady 12.5 per cent and shares are trading for 18 cents each

Kingston Resources (KSN) has received outstanding high-grade channel sampling results from the Ewatinona deposit.

The Ewatinona deposit is located within the Quartz Mountain area at its 2.8 million ounce Misima Gold Project in Papua New Guinea.

Results from this latest sampling program include 70 metres at 4.99g/t gold including 28 metres at 8.08g/t gold and six metres at 15.58g/t gold, and four metres at 10.96g/t gold.

These results all come from one 200-metre long, continuous channel that is located in the north-west corner of Ewatinona.

The geology of the channel alternates between greenstone breccia that hosts base metal sulphides – such as galena, sphalerite, and pyrite – and densely fractured and brecciated base metal veining and base metal mineralisation.

These results are highly encouraging as they confirm the mineralised trends as well as gold mineralisation.

“70 metres at 4.99g/t gold is a spectacular result from the channel sampling in the Ewatinona Pit. These results help confirm the geological interpretation and grade distribution of the Western Ewatinona area,” Managing Director Andrew Corbett said.

“Importantly, these results also increase our confidence in Ewatinona as our preferred starter-pit as they demonstrate the presence of high-grade gold mineralisation in the pit floor that is waiting to be mined,” he added.

Kingston is now on track to complete a resource update for the Misima Project, which is expected to be released in the June quarter.

It is believed that drilling will restart once COVID-19 restrictions are lifted.

Further resource definition drilling will then be undertaken to upgrade the classification of the resource. This is expected to be completed in tandem with a pre-feasibility study.

Kingston is up a steady 12.5 per cent and shares are trading for 18 cents each at 1:17 pm AEST.

KSN by the numbers
More From The Market Herald
Venus Metals (ASX:VMC) - Managing Director, Matthew Hogan

" Venus Metals (ASX:VMC) intersects encouraging mineralisation at Vidure

Venus Metals (VMC) has intersected encouraging copper-nickel-platinum group element (PGE) mineralisation at the Vidure Prospect.

" Whitehaven Coal (ASX:WHC) uses record prices to pay down debt

Whitehaven Coal (WHC) will use the uplift

" Alderan Resources (ASX:AL8) commences drilling at Detroit

Alderan Resources (AL8) has commenced drilling at its Detroit copper gold project, located in the US state of Utah.
RareX (ASX:REE) - Managing Director, Jeremy Robinson

" RareX (ASX:REE) begins scoping study at Cummins

RareX (REE) has begun a scoping study at its flagship Cummins Range Critical Metals Project.