Kin Mining NL advised that its exploration-driven growth strategy for its 100%-owned Cardinia Gold Project, located near Leonora in Western Australia, is continuing to deliver strong results with the announcement of an updated project-wide Mineral Resource Estimate. The updated September 2022 MRE has seen overall contained ounces increase by 10% to 1.41 million ounces, reflecting the success of the strategic drilling programs undertaken by the Company over the past year, particularly within the under-explored Eastern Corridor. The new drilling around the Rangoon deposit within the Eastern Corridor has added an additional 62koz of Mineral Resource.

The MRE for all optimised resources was also extended into underground mining positions below the open pit optimisation shells. At a 2.0g/t cut-off grade, this has added an additional 22koz, increasing the previous MRE announced on 23 September 2021 by a total of 3.36Mt at 1.22g/t for an additional 132koz of gold. The project wide MRE update includes reoptimized pit shells for all existing models using standardised parameters and software, a gold price of A$2,600 and 2019 Pre-Feasibility Study for the CGP operating cost assumptions.

All Open Pit Mineral Resource Estimates are reported within optimised shells using the same criteria for recovery and geotechnical parameters as established in the 2019 Pre-Feasibility Study for the CGP. Kin Mining Managing Director Andrew Munckton said the continued growth in the Company's resource base at Cardinia reflected the success of its strategic exploration approach while marking another important step towards unlocking the value of the Project by converting exploration potential into JORC Mineral Resources. The Rangoon deposit Mineral Resource estimate update consists of an additional 11,134 meters of RC Drilling and 1,561.8 metres of diamond drilling in 106 drill holes.

The block model spans approximately 860 metres N- S and up to 200m E-W. It consists of two separate orientations of mineralisation. Steep to vertically dipping lodes bound the western and north western arms of the deposit. The mineralisation at Rangoon is consistent with other nearby deposits in the Eastern Corridor.

The felsic volcanic and sedimentary sequence is intruded by dolerite sills and minor, late, felsic porphyries. All rock types have been intensely carbonate altered with sulphide mineralisation hosted by completely replaced portions of the host rock. The mineralisation assemblage consists of carbonate-sericite-quartz and sulphide, with the sulphide dominated by very fine pyrite.

Gold mineralisation is strongly correlated with pyrite content and also associated with significant amounts of Ag, Sb, Te and Zn, as well as elevated Bi, Cu, Pb and Mo.