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    KIN   AU000000KIN8

KIN MINING NL

(KIN)
Delayed Australian Stock Exchange  -  01:57 2022-09-27 am EDT
0.0670 AUD    0.00%
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Kin Mining NL Announces Encouraging Results from RC Drilling at Iron King

07/27/2022 | 06:12pm EDT

Kin Mining NL reported encouraging new assay results from Reverse Circulation (RC) drilling undertaken at the Iron King prospect, located within its 100%-owned tenements approximately 45km north-west of Leonora. Iron King is located near Red 5's King of the Hills 4.1Moz gold mine. Iron King has a similar geological setting to King of the Hills with gold mineralisation being associated with a significant granodiorite intrusion. The RC drilling results confirm the presence of primary gold mineralisation located beneath previous encouraging air-core drilling. RC drilling to follow up previous Aircore drilling was conducted predominantly to the west of the historical Iron King open pit. The Iron King open pit produced approximately 20,000 tonnes at 9.0g/t Au for 5,600oz of gold mined in the 1980's. Historical drilling results at Iron King were derived from RC drilling completed in 1980's as limited extensions of the historically mined pit area. Intersections such as 1m at 27.5g/t Au from 3m in IK010 highlight the high grade but narrow nature of the mineralisation in and around the open pit and historical workings. The Company has completed nine holes for a total of 822m of RC drilling targeting the Iron King fault which strikes East-West as it wraps around the Tarmoola anticline. Significant results include 8m at 1.79g/t Au from 13m in IK22RC005, 2m at 2.74 g/t Au from 54m in IK22RC006 and 2m at 2.86g/t Au from 60m in IK22RC010.
Mineralisation is associated with abundant quartz veining (up to 50%), containing up to 10% pyrite and surrounding rock displaying weak to moderate foliation and shear textures, indicating a structurally-controlled system located between basalt and dolerite units adjacent to a significant granodiorite intrusion intersected in aircore drilling along strike.
The Axford target is located in the north-eastern sector of the Project, approximately 1km north of the historically mined Iron King open pit. Previous drilling results at Axford were derived from AC drilling completed in August 2020 and October 2021 and highlighted mineralisation such as 6m at 1.91g/t Au from 40m in AX20AC116 and 4m at 2.08g/t Au from 44m in AX20AC117 targeting extensions to historical workings previously referred to as the Crystal Ridge prospect. The Company has completed nine holes for an advance of 1,031m of RC drilling. Significant results include 2m at 1.88g/t Au from 94m in AX22RC004 and 1m at 6.30g/t Au from 54m in AX22RC007. Mineralisation at Axford consisted of a pyrite and silica altered felsic volcanic rocks, within a larger interval of black shale. Mineralisation was associated with areas of strong quartz veining, as well as up to 2% pyrite. Geological logging indicates alteration containing pyrite up to 70% in some cases. Previous mapping by Hallberg (1999) interpreted a thick Granodiorite unit central to the prospect. RC drilling has indicated that significant zones of black shale are present and mapped as the Crystal Ridge Shear Zone on either side of the Granodiorite unit.


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All news about KIN MINING NL
09/23Kin appoints highly experienced geologist leah moore as exploration manager to continue..
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07/27Kin Mining Nl : Encouraging Results from RC Drilling at Iron King
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07/27Kin Mining NL Announces Encouraging Results from RC Drilling at Iron King
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Financials
Sales 2022 - - -
Net income 2022 -11,3 M -7,36 M -7,36 M
Net cash 2022 3,65 M 2,37 M 2,37 M
P/E ratio 2022 -4,97x
Yield 2022 -
Capitalization 70,3 M 45,6 M 45,6 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 47,7%
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Managers and Directors
Andrew T. Munckton Chief Executive Officer, Director & MD
Stephen Jones Chief Financial Officer & Secretary
Giuseppe Paolo Graziano Non-Executive Chairman
Brian B. H. Dawes Non-Executive Director
Hansj÷rg Plaggemars Non-Executive Director
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