KSN commences RC drilling at Livingstone Gold Project

By Trevor Hoey. Published at Jul 15, 2020, in Mining

Shares in Kingston Resources Limited (ASX:KSN) opened 10% higher on Wednesday morning after the company announced that it had started a 5000 metre reverse circulation drilling program at its 75% owned Livingstone Gold Project, 140 kilometres north-west of Meekatharra in the Bryah Basin of Western Australia.

Between March and July the company's share price increased four-fold after delivering exceptional news in relation to its 3.2 million ounce Misima Gold Project in PNG.

However, Livingstone is by no means the poor relation. Historical mining demonstrates the high-grade of mineralisation in the area.

The RC drilling program is ideally timed with the Australian dollar gold price hovering in the vicinity of $2600 per ounce.

The program has been designed using knowledge gained from the structural geological review conducted over the wider Livingstone Project, including Kingsley, in late 2019.

Establish Mineral Resource Estimate for Kingsley prospect

The aim of the program is to define shallow oxide mineralisation that will contribute towards an initial JORC compliant Mineral Resource Estimate for the Kingsley Prospect.

Several holes have also been designed to further test potential depth extensions to the known mineralisation.

Commenting on the drilling program at Kingsley, Kingston managing director Andrew Corbett said, ‘’The drilling program underway at Kingsley will be key to unlocking value at the broader Livingstone Project as we move towards defining a resource at this prospect, adding to the existing 49,000 ounce (JORC 2004) Resource at Homestead."

Kingston has also been successful in securing state government co-funding for a further 1000 metres of deep RC drilling at the Stanley Deeps prospect.

This drilling will be undertaken following completion of the resource definition program at Kingsley.

Kingston expects to report initial results from the Kingsley drilling later in August.

The scheduled exploration program at Livingstone will run concurrently with ongoing mining studies at the flagship Misima Project where pre-feasibility study (PFS) work continues to advance.

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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