Next Investors logo grey

Kingston delivers further outstanding assay results from Livingstone


Published 14-SEP-2020 10:07 A.M.


3 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Kingston Resources Limited (ASX:KSN) has released further outstanding assay results from the recently completed reverse circulation (RC) drilling program at its 75%-owned Livingstone Gold Project, 140 kilometres north-west of Meekatharra in Western Australia.

A new batch of assays have now been returned from a further 25 holes spanning approximately 2300 metres.

These included 22 metres at 3.6 g/t gold from 20 metres, including 3 metres at 20.6 g/t gold and 1 metre at 31.2 g/t gold from 20 metres.

Another notable intercept was 10 metres at 4.1 g/t gold from surface, including 2 metres at 8.4 g/t gold from 4 metres.

The identification of further shallow high-grade gold supports management’s decision to conduct an aggressive exploration program that will provide the foundation for a mineral resource estimate.

These latest results stem from a 54-hole/4.5 kilometre program recently completed at the Kingsley Prospect.

Assays from the remaining 13 holes covering about 1200 metres are due by the end of September.

Confirmation of shallow high-grade mineralisation over one kilometre

The initial results coupled with the most recent returns further support the evolving mineralisation model developed from knowledge gained from a structural geological review conducted over the wider Livingstone Project, including Kingsley, in late 2019.

Commenting on this latest round of results and pointing to the company’s broader exploration strategy, managing director Andrew Corbett said, “We are continuing to see high grade intercepts within broader widths of significant mineralisation in this latest batch of assays, which is a very encouraging development.

“The drilling is confirming the continuity of shallow, high-grade gold mineralisation over a 1 kilometre strike length at the Kingsley Prospect.”

ksn new assays

Corbett went on to say, “I am looking forward to receiving the remaining results in the coming weeks which will allow us to start work on a maiden JORC compliant Mineral Resource Estimate (MRE).

“I am also looking forward to getting back into drilling at Livingstone with a rig due back on site by the end of the month to conduct the co-funded drilling at the Stanley target and to undertake further drilling at the Homestead Deposit, which hosts an historic shallow 49,900 ounces gold (JORC 2004) Inferred Resource, as well as at the high-grade Winja prospect.

“Our ongoing exploration program at Livingstone will run concurrently with mining studies at the flagship 3.2 million ounce Misima Gold Project in Papua New Guinea, where we continue to make positive progress.”

Co-funded drilling to recommence in coming weeks

The results from the current program will be incorporated with results from prior RC drilling, the data from the favourable preliminary metallurgical test work and the diamond drilling program completed by the company in 2019.

The co-funded drilling at Stanley through R21 of the WA Government Exploration Incentive Scheme is due to commence in late September with a rig due to mobilise to site by the end of the month.

This will be followed by an approximate 1000 metre RC program at the Homestead Deposit, which hosts an historic shallow resource of nearly 50,000 ounces gold, and the high-grade Winja prospect to the south.

Previously reported results from 2017 RC drilling program at Homestead included 7 metres 12.5g/t gold from 35 metres, including 4 metres at 19.6 g/t gold from 35 metres with the mineralisation remaining open along strike to the east.

Prior results at Winja included 18 metres at 3 g/t gold from 55 metres, including 7 metres at 5.2 grams per tonne gold from 49 metres in a chute like structure of high-grade mineralisation.

Consequently, this is a much anticipated exploration program with the potential to provide the building blocks for a mine development.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.