Positive assay results continue to extend Kin Mining NL’s (ASX: KIN) 100%-owned Cardinia Gold Project (CGP) near Leonora in Western Australia.
The company has received an initial batch of assays are for 11 Reverse Circulation (RC) drill holes completed at the Cardinia Hill prospect, located 2km from the site of the proposed processing plant at the CGP.
The Cardinia Hill RC programme was designed to commence in-fill drilling to 40m x 40m spacing at the southern end of the deposit and to step out and test for potential strike and depth extensions in the northern end of the deposit.
Managing Director, Andrew Munckton, said the programme has been successful in both objectives, and has provided the company with a refined and updated geological understanding of the Cardinia Hill prospect, paving the way for resource drilling, which is planned to commence in the near future.
“The initial phase of RC drilling at Cardinia Hill undertaken as part of the broader Phase 3 programme has been successful in upgrading our understanding of the geometry and scale of the deposit – providing a solid foundation for planned resource drilling,” Mr Munckton said.
“Confirmation of the presence of two shoots of north-plunging higher-grade mineralisation coincident with strong magnetic signatures from our new airborne magnetic survey work is an important development which gives us confidence that we can advance the Cardinia Hill deposit to a Mineral Resource estimate relatively quickly.
“In addition, the magnetic data has also revealed a number of other targets in the area that warrant follow- up. Some of these targets have already had initial AC drilling intersections associated with them, enhancing their potential. Others remain untested by modern exploration methods.
The company is continuing its systematic approach to exploration that has proved so successful to date as it advances a number of targets in the broader Cardinia area. Investors can look forward to continued regular updates as we receive assay results from RC drilling across the Hobby, Black Chief, Faye Marie and Pelsart prospects. We are also looking forward to what the extensive air-core programme at East Lynne and Helens East will tell us.”
In-fill drilling at the southern end produced intercepts of 17m @ 2.35g/t from 6m confirming the tenor of the mineralisation originally encountered in this part of the deposit. The deeper RC holes in this area typically intersected narrower mineralised zones (2m @ 3.17g/t from 160m) and confirmed the continuity of the mineralised structures at depth.
At the northern end of the deposit, intersections including 4m @ 3.89g/t from 57m have extended the strike length of the deposit to the north. Mineralised intercepts were encountered in all RC holes drilled.
New detailed airborne magnetic data acquired recently by Kin Mining has, for the first time, been integrated into the interpretation of the mineralisation being encountered in the Cardinia area.
Mr Munckton said that as drilling progresses at Cardinia Hill, it is becoming apparent that, within the main lode, two north-plunging high-grade shoots are present within a generally lower grade halo of mineralisation. Both of these shoots feature a coincident magnetic anomaly.
The Cardinia Hill magnetic anomalies reveal open positions to the north and south as well as down-dip to the west. These positions will be tested as part of the upcoming systematic resource drill-out.
A number of other significant magnetic anomalies have also been revealed from the new magnetic data in the areas surrounding Cardinia Hill, which coincide with the mineralisation intersected in recent air-core drilling at Helens East and Helens South. Additional magnetic anomalies are present in areas untested by drilling which warrant follow-up exploration.
The next phase of drilling at Cardinia Hill will target the strike and down-plunge extent of the high-grade shoots, continue to in-fill areas of broad-spaced drilling within the deposit to 40m by 40m spacing and test some of the magnetic anomalies.
The follow-up drilling program will also include a number of diamond drill holes to improve the understanding of the structural relationships in detail and provide initial metallurgical testwork samples for the deposit.
