Abi prospect could also contribute to Misima starter pit

By Trevor Hoey. Published at Dec 17, 2019, in Mining

Kingston Resources Limited (ASX:KSN) has reported further outstanding high-grade results from surface geochemistry at the recently discovered Abi Prospect, located near the site of the historical processing plant at its flagship 2.8 million ounce Misima Gold Project in PNG.

New preliminary channel samples have highlighted the potential for significant shallow gold mineralisation at Abi, particularly in the vicinity of hole GDD044.

Results from the initial drilling at Abi delivered an outstanding initial intersection in GDD044 of 23.6 metres at 2.9 g/t gold from 7.4 metres, including 13.5 metres at 4.6 g/t gold from 17.5 metres and 4.3 metres at 11.6 g/t gold from 19.1 metres within a breccia unit not previously intersected in historical drilling.

As indicated on the following map, Kingston has been conducting sampling programs in the Abi area peripheral to GDD044 (highlighted in blue) in order to delineate new surface mineralisation that could indicate a continuation of the same mineralised breccia at depth.

Final and preliminary assay results from this work have returned significant gold values, including 7.7 metres at 21 g/t gold and 2 metres at 10.5 g/t gold.

The new high-grade results from channel samples south-east of GDD044 show that mineralisation is open.

Discussing the broader significance of these results in terms of potentially developing a starter pit at Misima, managing director Andrew Corbett said, “These outstanding geochemical results continue to build the picture for us at Abi, adding further weight to the rock chip and channel samples reported on 17 September and the exceptional result reported in hole GDD044.

‘’While it’s still early days with this target, the results so far certainly give us confidence that there is more to come, and we are looking forward to seeing what the upcoming drilling can deliver.

“We expect to be drilling a number of follow-up holes at Abi over the coming months, in conjunction with our program at nearby Ewatinona.

‘’The broader Quartz Mountain region continues to shape up well as we look to deliver on our strategy of identifying potential starter pit areas at Misima, with the added benefit of being close to the historical plant site and haul roads.”

Upcoming drilling designed to target extensions

The breccia unit is interpreted to be steeply dipping to the north-east, potentially controlled by the north-west trending, north-east dipping Abi fault.

Follow-up drilling at Abi has now been designed to specifically target extensions of the mineralisation identified in GDD044.

Following on from the geological review of the Quartz Mountain area, the geological model for the Abi prospect has been updated to incorporate a new interpretation as depicted below.

Two diamond drill holes have been designed to test for further mineralisation at Abi with both holes being collared from the same location, east of the GDD044 collar.

The first hole will intersect the mineralisation in GDD044, approaching from the east in a scissor design.

The hole is designed to extend into the footwall in order to test the extent of mineralisation there.

The second hole is designed to test the new high-grade surface results to the south-east, specifically testing the continuation of the mineralised breccia along strike and at depth.

This should provide valuable strategic data which will also feed into the company’s planned resource upgrade in 2020, a development which is likely to be a significant share price catalyst.

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.

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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.

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