KSN delivers JORC resource at Misima Gold Project

Published at Nov 27, 2017, in Small Caps

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 (ASX:KSN) has announced a maiden JORC Resource at its gold project in Papua New Guinea (PNG), after acquiring it through the acquisition of WCB Resources earlier this year. Kingston currently owns 49 per cent of Misima and earning in to 70 per cent.

KSN announced a JORC-compliant Mineral Resource estimate for the Misima Gold Project, containing a total 82.3Mt @ 1.1 g/t Au and 5.3 g/t Ag for a total of 2.8Moz Au and 13.9Moz Ag. This represents a 22% increase in contained gold relative to a recent NI43-101 resource conducted in Canada, which operates under its own Compliance framework rather than adopting JORC regulations.

Following the announcement of the news at market-open this morning, KSN shares have seen a modest gain of 10 per cent, currently trading at $0.022.

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

KSN’s Resource tabulated in full:

misima project

If comparing with previous Resources in the area, KSN’s new resource total of 82.3Mt @ 1.1g/t Au compares favourably to the historical 1986 pre-mining mineral inventory published by Placer Dome (76.1Mt @ 1.19g/t Au for 2.9Moz at a 0.5g/t Au).

Back in the 1980s and 1990s, Placer subsequently produced 3.7Moz Au from KSN’s local area before mining ceased in 2001. Between then and now, several gold processing plants have been constructed in the vicinity while gold processing methods have improved markedly. From an economic-viability perspective, these two factors are expected to provide a positive influence on KSN’s ongoing work in PNG.

With a production history of approximately 4Moz and a current resource of 2.8Moz, Misima now has a total known gold endowment in excess of 6Moz — thereby positioning KSN’s Misima Gold Project as a world-class gold deposit in a region with confirmed precious metals mineralisation.

With excellent potential to add to the resource through ongoing exploration at a number of large-scale, advanced exploration targets, KSN believes it is well positioned to continue growing the resource base at Misima.

However, it is still early stage here, so investors should seek professional financial advjce if considering this stock for their portfolio.

“The Misima Gold Project is a world-class deposit, and this initial JORC resource sets a benchmark for our exploration going forward”, said KSN’s Managing Director Andrew Corbett. “We believe there is enormous potential to significantly increase the contained ounces from drilling the near-mine extensions, initially focussing on outcropping mineralisation at Umuna East and Misima North. The resource is open at depth, so there is also excellent potential to extend it down dip,” he added.

From the geological results seen so far, KSN thinks there could be an additional 300-800koz Au (10-20Mt at 0.8-1.2g/t Au) of mineralisation within the block model which falls outside its current Resource, but which is inside the interpreted zones of mineralisation. In effect, it could be additional gold-bearing ore that sits within KSN’s exploration permit, but has not yet been captured in exploration drilling efforts.

This conceptual addition remains just a possibility at this stage, but it’s something the ASX junior hopes to explore further in future drilling programmes.

misima jorc resource

Priority target areas. Work to date has defined over 7km of prospective strike at Misima. Source: Kingston Resources

In addition to its precious metals assets, KSN also holds a portfolio of lithium exploration tenements covering four key project areas in the Northern Territory, and, the Livingstone Gold Project holding a 50,000-ounce gold resource.

Where to invest $1,000 right now

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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!