Kin Mining (ASX:KIN) has further exploration activities planned during the September 2023 quarter at its Cardinia Gold Project in Western Australia.
The $40-million-market-capitalisation company says this includes a follow-up reverse circulation (RC) program to determine the extent and grade of mineralisation below the regolith in the area at about 30m depth.
Kin says future programs will then be targeted depending on the results received from the proposed initial drill program.
This announcement comes after the company received the final batch of assays from its recent aircore (AC) drilling program in the eastern corridor area of the Cardinia Project.
‘Significant’ assays were received from the final 7 lines of extensional AC drilling between Cardinia Gill and Collymore. These results include hole CR23AC349 with 4m @ 0.98g/t Au from 32m and hole CR23AC419 with 6m @ 0.81g/t Au from 60m to end-of-hole.
Kin reports the assays confirm 2 new mineralised trends to the north of the Rangoon prospect, with continuous mineralisation now delineated to the Collymore prospect, about 2km north. In addition, the shallow mineralisation intersected in the drilling remains open and untested at depth.
Commenting on the latest results, Kin Mining Managing Director Andrew Munckton says: “These results confirm that a number of newly discovered mineralised positions within the Eastern Corridor have geological continuity of mineralisation, confirming these areas as priority targets for follow up RC drilling and highlighting extensions to previously intersected quartz pyrite mineralisation.
“we believe that the growth potential in this area for more discoveries of similar size and grade is exceptional”
With these latest results suggesting that the 2km strike extent between Collymore and Rangoon may be continuously mineralised — opening up the possibility of significant additional targets along this corridor — we believe that the growth potential in this area for more discoveries of similar size and grade is exceptional.”
As of 31 March 2023, Kin Mining had $6.7 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Kin Mining NL
