Kingston delivers further outstanding assay results from Livingstone
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.”
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.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.