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Kingston Resources starts drilling at Misima Gold Project
2 minute read
This product is classified as ‘very high risk’ in nature due to its location and geopolitical situation of the region. FinFeed advises that extra caution should be taken when deciding whether to engage in this product, however if you are not sure whether it is suitable for you we suggest you seek independent financial advice.
Kingston Resources Limited (ASX:KSN) this morning announced that drilling has commenced at its Misima Gold Project in Papua New Guinea.
The major diamond drilling campaign is targeting extensions to the existing 2.8Moz gold resource and drill-testing of newly discovered exploration targets at Umuna East Side.
The company anticipates drilling 10,000 metres this calendar year, representing be the first gold exploration drilling on Misima for more than 15 years. The arrival of freight barge MV Sea Swallowat Misima in late April was an historic event welcomed by the local community.
Phase 1 drilling targets.
Phase 1 of the drilling campaign will focus on resource extensions and new exploration targets, with KSN on track to complete earn-in to 70% during the Q3 2018.
A diamond drill rig set up at the Misima Project.
KSN Managing Director Andrew Corbett commented on the news: “We’re very excited to be underway with our drilling program.
“To commence drilling within six months of acquiring Misima is a testament to the Kingston team and a strong demonstration of the support the operation is receiving from the local community.
“Kingston is thankful for the support from the Misimans who are keen to see the project advancing and have worked with the company to get drilling started.”
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
Site works and preparation for Phase 1 of drilling.