Kin Mining NL (ASX: KIN) has received significant new assay results as part of the final batch of assays from the recently completed Reverse Circulation (RC) and diamond (DD) drilling at the Cardinia Hill prospect at its 100%-owned Cardinia Gold Project (CGP) near Leonora in Western Australia.
Managing Director Andrew Munckton, said the Cardinia Hill prospect, located just two km from a proposed processing plant site, is a recent discovery and has been the focus of a resource drill-out programme designed to underpin a maiden MRE as part of a project-wide update by year-end.
We are delighted with the outcomes of the in-fill drilling program at Cardinia Hill, which has exceeded our expectations in a number of respects,” Mr Munckton said.
“High-grade gold associated with the pyrite mineralisation has been intersected at shallow depths in the Southern Shoot and strong intersections were also achieved within the extension of the deposit to the north.
“The standout result of 21m at 6.6g/t Au from 37m down-hole in CH20RC087 in the main lode position is the best result received to date from this project and augurs well for an improving grade profile in the upcoming Mineral Resource Estimate.
“The 40m by 40m in-fill drilling program, with a strong diamond drilling component, has given us a much better understanding of the geological controls on the mineralisation at Cardinia Hill and also highlighted porphyry intrusions as an important factor in controlling the distribution of the high-grade component.
“A gravity survey covering the expected strike extent of the Cardinia Fault has therefore been initiated to map the position of the Fault north and south of Cardinia Hill and assist in detecting the position of other porphyry intrusions along the Fault.
“The resource drill-out at Cardinia Hill has been successfully completed, with samples from 63 RC holes and nine diamond holes now returned from the laboratory.
“The Company has engaged Cube Consulting to assist the Kin geological team to complete the maiden Mineral Resource estimate for Cardinia Hill and to upgrade the other Mineral Resources.
“In the meantime, AC drilling continues at the Iron King prospect north of Leonora with RC drilling ongoing at various prospects at Cardinia.
The diamond rig has recently returned from servicing other clients of the drilling company and will commence follow-up programs at the Hobby, Bruno Lewis, East Lynne and Collymore prospects.
“We are also eagerly awaiting the result from initial RC and diamond drilling at the East Lynne prospect, which we hope to start receiving in the next 2-3 weeks.”