Kin Mining NL (ASX: KIN or 'the Company') is pleased to provide an update on its ongoing exploration program at the 1.23Moz Cardinia Gold Project (CGP) located near Leonora in Western Australia.
This announcement emphasises the recent activities at the Eastern Corridor aimed at extending the depth of known mineralisation and an initial evaluation at a number of targets generated from the Phase 3 exploration program that offer the potential for Resource growth.
Eastern Corridor Exploration Program
The Eastern Corridor targets are located between 500m and 4.5km from the centrally located CGP. Currently, Mineral Resources within the Eastern Corridor total 3.9Mt at 1.59g/t Au for 194koz across four deposits at Helens, Rangoon, Fiona and Cardinia Hill. The area has been covered by detailed magnetics and gravity surveys and underwent deeper RC and DD drilling programs during the Company's Phase 3 exploration program completed over 2020 and early 2021, which revealed porphyry intrusions adjacent to sheared mafic volcanic and felsic volcanic contacts as a primary control of high-grade gold mineralisation.
The gravity survey in particular has enabled detailed mapping of the positions of interpreted shear zones, geological contacts and buried porphyry intrusions, which has resulted in the generation of several exploration targets in addition to the deeper targets associated with the recently-discovered Cardinia Hill deposit. Results received from the Phase 4 drilling program to date have provided an initial assessment of the mineralisation style and gold grade at each of the targets, which will assist with prioritising them for follow-up programs to target potential additional Resources to feed into a future CGP-based mining and processing operation.
The Cardinia Hill Inferred Mineral Resource comprises 1.2Mt at 1.66g/t Au for 61koz estimated in December 2021 to a depth of approximately 125m below surface. The Phase 4 drilling program is designed to extend the Mineral Resource along strike to the north and at depth to 200m below surface. In addition, infill drilling at the southern high-grade shoot is designed to upgrade the Mineral Resource category. The Phase 4 program consists of an additional 63 drill-holes for 5,070m of RC and 4,630.8m of diamond drilling.
The results received to date have confirmed the presence of high-grade mineralisation at depth (such as in CH21DD149 which returned 4.0m at 4.16g/t Au from 267.2m), as well as broad intersections of mineralisation with narrower high-grade sections (such as CH21RC128 which returned 53m at 0.64g/t from 54m including 3m at 5.98g/t from 59m), highlighting the high-grade vein-style mineralisation within broad zones of lower grade alteration at the project. The deeper sections of the deposit also contain narrow lower-grade zones of mineralisation based on results from the 18 holes below the 300mRl (125m depth below surface) returned to date.
Mineralisation along the Cardinia Hill structure has been extended to 800m strike length with drill hole CH21RC163 intersecting 2m at 4.17g/t Au at the northern extent of the drilling and remains open to the north. Assays for the remaining 14 drill holes in the Phase 4 program are expected to be returned over the next four weeks
Target 1 and 4 - Helens South and Helens East The Helens South and Helens East targets contain a number of vein and shear structures intersected in 200m spaced AC drilling programs completed in late 2020. AC drilling results were generally 4m and 8m intersections. The Phase 4 RC program aimed to test these shallow AC intersections at depth to confirm geological control and grade continuity. Better results were received from Helens South (Target 1) and included a number of 1m to 2m, high-grade (2g/t to 6g/t) results such as HS21RC325 - 2m at 5.96g/t Au from 35m.
The Helens South target is potentially a linking structure between two larger north-south faults, the Fiona East fault and the Cardinia Hill fault. This interpretation is very similar to the current Cardinia Hill structural model.
Target 2, 3, 6 and 7 - Cardinia Hill Fault
The Cardinia Hill deposit sits between two large fault structures that trend N-S within the Eastern Corridor. A number of gold-in-soil geochemical anomalies and recent 200m spaced AC drilling results mark the position of the targets adjacent to the Cardinia Hill structure. A total of 20 RC holes for 2,136m and one DD hole for 168.5m of drilling has been completed along the structure to the north and south of the Cardinia Hill deposit, with results returned for all holes. At Target 2, CH21RC160 returned a significant intercept of 14m at 1.41g/t from 6m. At Target 6, a number of drill holes intersected the Cardinia Hill Fault mineralised structure with generally narrow 1m to 2m mineralised intersections returned to date.
Tel: +61 8 9242 2227
ABOUT KIN MINING NL
Kin Mining NL (ASX: KIN) is a West Australian based gold development and exploration company. Kin's key focus is its 100% owned Cardinia Gold Project (CGP) located in the highly prospective North-Eastern Goldfields region of Western Australia. The CGP has a 1.23Moz gold Mineral Resource defined in both oxide and deeper primary mineralisation with considerable potential to grow this resource with further drilling. Kin's exploration effort is the systematic program of exploration across the Cardinia Mining Centre that seeks to advance a number of targets in parallel while developing a pipeline of exploration targets for ongoing Mineral Resource expansion.
COMPETENT PERSON'S STATEMENT
The information contained in this report relating to exploration results relates to information compiled or reviewed by Glenn Grayson. Mr. Grayson is a member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of the company. Mr. Grayson has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Grayson consents to the inclusion in this report of the matters based on information in the form and context in which it appears.