Kingston Resources Limited (ASX: KSN) has obtained significant new results from the latest holes of the Resource drilling programme at Kulumalia, located at the southern end of the main Umuna orebody at its flagship 3.6Moz Misima Gold Project in PNG.
These holes have returned multiple new wide, mineralised intercepts outside of the Reserve pit shell, increasing geological confidence in the existing Resource and Reserve models.
Managing Director, Andrew Corbett, said that consistent with previously reported, these results have also delineated new mineralisation beneath the current life-of-mine plan.
The Kulumalia drill programme has been a great success, returning intercepts of significant grade and width that have confirmed the mineralisation style across most of the Kulumalia area,” Mr Corbett said.
“This drilling has significantly advanced our understanding of the geology at Kulumalia, with expected positive implications for the life-of-mine plan in the southern portion of the proposed Umuna pit.”
“Following the latest program of Resource drilling at Kulumalia, the rigs completed a short drilling program at the Cooktown Stockpile aimed at increasing confidence in that component of the Resource. The rigs have now returned to Kulumalia for follow-up drilling.
“These programmes put us on-track to deliver updated Resource and Reserve estimates in the September quarter, which will in turn feed into a Definitive Feasibility Study (DFS) for the Misima Gold Project.
“ The DFS will be our core focus over the second half of this year, alongside the Environmental and Social Impact Assessment (ESIA) works which are ongoing. The team is also preparing for a geotechnical drilling program that will commence in July.
“Our ability to successfully deliver these work programs against the backdrop of continued global uncertainty generated by the COVID-19 pandemic is testament to the hard work and commitment of the Kingston team. We are now gearing up to move to the next stage of development for the Misima Project as we advance the mining studies and approvals.”
The drilling at Kulumalia was undertaken within the existing Inferred Resource envelope, with best gold intercepts from the latest results including:
- GDD108 (Section A – A’)
3m @ 8.3g/t Au & 87.2g/t Ag from 1.5m;
3.1m @ 4.08g/t Au & 23.8g/t Ag from 210.9m;
21.3m @ 1.69g/t Au & 30.5g/t Ag from 218m, including 1.3m @ 5.12g/t Au & 15.6g/t Ag from 218m. - GDD109 (Section B – B’)
3.2m @ 4.28g/t Au & 66.8g/t Ag from 142m;
1m @ 2.69g/t Au & 91.4g/t Ag from 216m;
21.5m @ 0.94g/t Au & 121g/t Ag from 210.9m, including 12.1m @ 1.23g/t Au & 35.2g/t Ag from 210.9m - GDD110 (Section C – C’) 19.4m @ 0.85g/t Au & 60.8g/t Ag from 94m, including 2m @ 3.5g/t Au & 225g/t Ag from 105m including 0.5m @ 10.2g/t Au & 199g/t Ag from 105m
Drilling from the Kulumalia Resource definition program has resulted in new insights into the nature of the geology and mineralisation at Kulumalia. Drilling confirms that gold-silver and silver mineralisation is hosted by all lithologies and is structurally controlled as breccias and quartz veins and stockworks. Continuity of the main mineralised structure at Kulumalia is confirmed, with occasional spatial discontinuities interpreted as being due to changes in dip-direction and offsets by late north/south trending structures.
Characteristics of the mineralisation and alteration system are inferred to represent different depths of the original mineral system before displacement supporting extension potential along strike and up and down dip. The main mineralised structure at Kulumalia has been intersected at deeper levels progressively towards the east as shown in GDD108.
Improved structural understanding has highlighted the possibility of repeat extensions of the Kulumalia and Umuna structures to the north and east, with shallow mineralised structures in the hanging wall to the south. Future programs are designed to test the mineralisation potential adjacent to Kulumalia, and extensions along strike and down dip on splays and structures peripheral to the main Umuna deposit.
