Kingston eyes off starter pit at Misima

By Trevor Hoey. Published at Nov 26, 2019, in Mining

Less than a fortnight after moving to full ownership of the 2.8 million ounce Misima Gold Project in Papua and New Guinea, Kingston Resources Limited (ASX:KSN) has released an updated geological model for the highly prospective Quartz Mountain region taking into account recent drilling and exploration data.

An extensive internal review of existing Quartz Mountain geological data complemented by recent drilling, geochemical data and structural mapping undertaken by Kingston has concluded that mineralisation in the area is primarily structurally controlled.

The new geological interpretations open up new targets for Kingston to explore, and Stage II drilling is already underway.

Central to the company’s revised strategy is increasing the Ewatinona Resource as this would represent a key element of Kingston’s redevelopment strategy for Misima with the potential to underpin a starter pit for the project.

It is worth noting that geochemistry work at Ewatinona revealed outstanding surface grades of 1.5 metres at 29.5 g/t gold and 1.2 metres at 21.5 g/t gold.

Numerous share price catalysts in 2020

Management certainly has plenty to work with in terms of prioritising its plans for 2020, having identified further gold mineralisation in established areas, while also having significant drilling success in other zones that tend to support assumptions regarding extensions to known trends.

The following map highlights the sizeable amount of ground Kingston has to work with in 2020, and particularly given the group has multiple targets in its sights the company is shaping up as a news flow driven story over the next 12 months.

Reflecting on the successful year of exploration, managing director Andrew Corbett said, “It is fantastic to see our recent work on advancing our understanding of the Misima geology paying off at Quartz Mountain.

‘’This work is expected to help upgrade the existing 220,000 ounce Inferred Resource at Ewatinona to Indicated status, which is an important step in delivering a starter pit for the project.’’

Historical drilling ill-directed

Many of the historic holes at Quartz Mountain are interpreted to have missed or poorly tested the mineralisation, as they were drilled at a near vertical angle reducing the likelihood of intersecting the vertical structures.

Kingston’s updated interpretation presents new opportunities and will inform exploration activities in the region going forward, including the current Stage II drill program which is focused on the Ewatinona and Abi areas.

Drilling at Abi will follow-up on the high-grade intersection from Hole GDD044, which returned 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, as well as testing structural targets identified from the initial drilling program and recent fieldwork.

Specifically referring to Ewatinona and Abi, Corbett said, “We are also pleased to be back drilling in the Quartz Mountain area, with the aim of upgrading and expanding the Ewatinona Resource and following-up our exciting first hit at Abi.

KSN is back drilling in the Quartz Mountain area.
KSN is back drilling in the Quartz Mountain area.

‘’The potential to delineate high-grade, near-surface ounces within this region is outstanding, with the Quartz Mountain area representing a high priority target to build on our existing 2.8 million ounce resource base.

‘’The close proximity of this area to existing roads and the short haulage distance to the historical mill location could provide material benefits to our future development strategy.’’

Corbett said that the company should also be relaying further drilling results from both Misima North and Umuna East in the near term.

View Our Investment Portfolios

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 is Australia’s leading small cap publication

Founded seven years ago, 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. 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. 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!