Kingston unveils diamond in the rough at Livingstone
Kingston Resources Limited (ASX:KSN) has reported highly encouraging initial 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.
The initial batch of assays has been returned from the first 11 holes (954 metres) of a 54-hole (4525 metres) program completed at the Kingsley Prospect, which was discovered by Kingston in 2018.
These initial results support the evolving mineralisation model, developed from knowledge gained from a structural geological review conducted over the wider Livingstone Project, including the Kingsley prospect, in late 2019.
Some of the notable intercepts included 9 metres at 2.7 g/t gold from 67 metres, 20 metres at 1.96 g/t gold from one metre and 12 metres at 2.63 g/t gold from 84 metres.
There were some high-grade sections within the aforementioned intercepts including two 1 metre sections of 15.84 g/t gold and 28.02 g/t gold from 55 metres
Further drilling is planned at the Stanley, Homestead and Winja prospects in September.
At this point, an additional 1000 metres of reverse circulation drilling will be undertaken at the Homestead deposit, host to an historic shallow 50,000 ounce gold resource (JORC 2004), as well as the high grade Winja prospect.
Only 800 metres of this initial discovery has been meaningfully drilled.
Importantly, the mineralisation currently remains open to the north-west and east where a 1.2 kilometre strike length of known mineralisation is yet to be fully tested.
Commenting on the promising exploration results and the company’s near term strategy, Kingston’s managing director Andrew Corbett said, “Our 2020 exploration program at Livingstone is off to a flying start with the first batch of assays from the recently completed RC program returning some outstanding high-grade intercepts, in several cases within broader widths of significant mineralisation.
‘’I am looking forward to receiving further results in the coming weeks.
“We are also looking forward to getting back into drilling at Livingstone in relatively short order to complete the co-funded drilling at the Stanley target and to undertake some further drilling at the Homestead Deposit which hosts an historic shallow 49,900 ounce gold (JORC 2004) Resource.
‘’We will also conduct drilling at the high-grade Winja prospect, which is where Kingston first drilled at Livingstone after acquiring the project in 2017.
“The continuing exploration program at Livingstone will run concurrently with ongoing mining studies at the flagship 3.2 million ounce Misima Gold Project in Papua New Guinea, where PFS work continues to make strong progress.”
The location, nature of the intercepts and strike potential at Livingstone referred to by Corbett are shown below.
On track to complete maiden resource estimate at Kingsley
The final results from the current program will be incorporated with results from prior RC drilling and the diamond drilling program, all completed by the company in 2019.
Kingston ultimately intends this data to underpin a maiden Mineral Resource Estimate (MRE) for the Kingsley Prospect.
The planned co-funded drilling at Stanley Deeps supported by the Western Australian Government Exploration Incentive Scheme was suspended due to difficulties with ground conditions.
This will now be completed in early September.
Focus turns to Homestead and Winja
Kingston’s upcoming drilling program at Homestead is much anticipated given that reverse circulation drilling conducted in 2017 yielded hits of 7 metres at 12.5 g/t gold from 35 metres, including 4 metres at nearly 20 g/t gold from 35 metres with mineralisation remaining open along strike to the east.
Winja is shaping up as an extremely promising target with previous drilling delineating 18 metres at 3 g/t gold from 55 metres, including 7 metres at 5.1 g/t gold from 49 metres in a chute like structure of high-grade mineralisation.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.