Kin Mining NL (ASX: KIN) has received significant new assay results from recent air- core (AC) drilling at the Axford prospect within the Iron King project in Western Australia.
Iron King, located 45km north of Leonora, is a separate but potential satellite project to the company’s flagship 100%-owned Cardinia Gold Project (CGP).
The drilling, together with multi-element soil geochemistry, has confirmed the potential of the Iron King Project to emerge as a significant new greenfields discovery which the company plans to follow-up in parallel with its other exploration priorities at the CGP.
Significant assay results received from the Axford prospect, part of an extensive air-core (AC) drilling programme completed at 400m line spacings across the Iron King Project, included:
- 16m at 0.93g/t Au from 56m
- 6m at 1.91g/t Au from 40m
- 4m at 2.08g/t Au from 40m
- 4m at 2.19g/t Au from 0m
- 4m at 1.50g/t Au from 56m
- 16m at 0.49g/t Au from 24m
The initial broad-spaced drilling program consisted of 11,425m of AC drilling at nominal 400m line spacing targeting three separate 2.0km long multi-element soil geochemical anomalies.
Managing Director, Andrew Munckton, said the results have confirmed the continuity of mineralisation over a distance of 800m at Axford, with mineralisation identified along strike of limited historical drilling.
Ore-grade gold mineralisation in the near-surface environment is present above a zone of quartz veining hosted mineralisation.
A programme of broad-spaced air-core drilling has delivered initial encouraging results from the Axford target at the Iron King satellite project,” Mr Munckton said.
“Mineralisation associated with east-west striking and south-dipping quartz veins and breccia zones in mafic rocks shows strong visual similarity to the vein systems mined at both the nearby Victory workings and the historical open pit excavation at Iron King.
“These are very encouraging results for this early stage of exploration and confirm that we have discovered extensions to historical RAB and RC drilling intercepts and confirmed a parallel zone of mineralisation at Axford, upgrading the potential of this target as a focus for follow-up exploration this year.
“ We are looking forward to confirming the continuity of the Axford mineralisation by undertaking further in-fill air-core drilling at 200m line spacing.
“In addition, the strike extensions of the Iron King Open pit have been confirmed with soil geochemistry and present a compelling, walk-up drill target for the second phase of work
“We plan to commence this follow-up work in the June 2021 quarter given the significant number of other exploration priorities we need to attend to at Cardinia in the first quarter of 2021.
“We expect to report a significant number of assays from Cardinia in the coming weeks as we progressively receive results from drilling completed prior to Christmas.”
The Axford target is located in the north-eastern sector of the Iron King Project, approximately 1.0km north of the historically mined Iron King open pit. The Iron King open pit produced approximately 20,000 tonnes at 9.0g/t Au for 5,600oz of gold mined.