Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Kin Mining extends Helens-Rangoon trend to more than five kilometres at Cardinia with strong aircore results

Published 01/06/2023, 11:11 am
Updated 01/06/2023, 12:00 pm
© Reuters.  Kin Mining extends Helens-Rangoon trend to more than five kilometres at Cardinia with strong aircore results

© Reuters. Kin Mining extends Helens-Rangoon trend to more than five kilometres at Cardinia with strong aircore results

Kin Mining NL (ASX:KIN) has revealed promising assay results from aircore drilling that extend the Helens-Rangoon mineralised corridor beyond five kilometres at the Cardinia Gold Project (CGP) in Western Australia.

At the project, based in the vicinity of Leonora, the company has been outlining continued high-grade gold mineralisation trends between Helens and Rangoon deposits.

Among the significant findings from the initial four lines of extensional aircore drilling between Rangoon and Collymore are:

  • 9 metres at 2.10 g/t gold from 36 metres to end-of-hole;
  • 4 metres at 2.30 g/t from 52 metres; and
  • 4 metres at 2.39 g/t from 16 metres.
The data comes on the back of successful aircore drilling in the Eastern Corridor area, a segment within the fully owned CGP, supplementing previous aircore results from last year.

Consequently, the combined data delivers substantial evidence of a comprehensive, persistently mineralised corridor throughout the five-kilometre extent between the Helens and Rangoon deposits.

“Significant strike length”

Kin managing director Andrew Munckton said: “We are very pleased with the consistently strong results generated from the aircore drilling between Rangoon and Collymore.

“The results demonstrate a significant strike length of mineralisation in two parallel zones underneath a strong soil geochemical anomaly, located along strike from the Helens-Rangoon Fault.

"These results show a striking similarity to those seen at Hobby, Rangoon and Helens, where the combination of anomalous soil geochemistry at surface followed by broad-spaced, ore-grade aircore results in the oxide and regolith zone in the right geological environment provided a positive indicator of strong underlying gold mineralisation at depth when tested with RC and diamond drilling.

“Based on these similarities, we’re very much looking forward to testing the Rangoon-Collymore Trend with deeper drilling.

“The Eastern Corridor, where Kin has focused most of its exploration efforts over the last 18 months, is emerging as a large, multi-pronged mineralised gold camp.

“It already represents a very significant mineralised position at Cardinia, with 339,000 ounces of mineral resources currently defined within the corridor and further ounces expected to be added in the upcoming resource update scheduled for late June.

“With these latest results suggesting the entire 5-kilometre strike extent between Collymore and Helens may be continuously mineralised – opening up the possibility of significant additional targets along this corridor – we believe the growth potential in this area is exceptional.”

Drill highlights

Kin’s latest results extend the mineralised trend's strike to two kilometres north of the 95,000-ounce Rangoon deposit.

The shallow mineralisation remains untested at depth and open for further exploration.

These results also indicate the potential for continuous mineralisation along the complete five kilometres strike extent from Helens in the south to Collymore in the north.

Geological logging indicates that the mineralisation associated with quartz veining, pyrite mineralisation and alteration is located on a felsic volcanic unit's margins.

The mineralisation style and host rocks bear striking similarities to the high-grade gold mineralisation found at Helens and Rangoon.

Next steps

Kin has planned several short infill aircore drill lines between lines 1 and 4 in the current program to add confidence to the position of the two parallel mineralised structures highlighted by the results to date.

Further work in the September quarter will include following up with RC drilling to determine the extent and grade of the mineralisation below the regolith at about 30 metres in depth.

Future programs will be targeted depending on results from the remainder of the current aircore program.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.