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    KIN   AU000000KIN8

KIN MINING NL

(KIN)
Delayed Australian Stock Exchange  -  01:32 2022-09-28 am EDT
0.0670 AUD    0.00%
09/23Kin appoints highly experienced geologist leah moore as exploration manager to continue kin's exploration drive
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09/23Kin Mining Appoints New Exploration Manager for Western Australia's Cardinia Project
MT
09/23Kin Mining NL Reports Earnings Results for the Full Year Ended June 30, 2022
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Kin Mining NL Reports New Drilling Results from the Remaining 15 Reverse Circulation Drill-Holes Complete as Part of Its Eastern Corridor Exploration Program

06/26/2022 | 06:19pm EDT

Kin Mining NL reported highly encouraging new drilling results from the remaining 15 Reverse Circulation drill-holes completed as part of its Eastern Corridor exploration program targeting the under-explored Rangoon area within its 100%-owned 1.28Moz Cardinia Gold Project (CGP) near Leonora in Western Australia. The results, which build on the strong results reported from the Rangoon area on 12 April and 6 June 2022, further reinforce the substantial endowment of the emerging Eastern Corridor at Cardinia and the potential to define additional resources as part of a project-wide Mineral Resource update scheduled for third quarter 2022. Mineralisation discovered to date within the Eastern Corridor extends over an area of approximately 2km by 5km on the eastern side of the CGP, with outstanding potential to discover new mineralised positions and extend existing deposits at depth.

The Eastern Corridor contains a number of exploration and development prospects including Cardinia Hill, Helens, Fiona and Rangoon, which collectively host in excess of 239koz of Mineral Resources and are interpreted to be structurally linked as part of a significantly larger mineralised system located on the eastern side of the CGP. Rangoon RC Program: RC drilling was completed in April 2022, comprising 32 RC holes for 3,913m. The drilling was designed to develop a better understanding of the geology of the area to the east of the Helens Fault, which is marked at surface by the Helens and Rangoon historical workings.

At Rangoon, the workings and previous broad-spaced RC and diamond core drilling intersected both steep and shallow east-dipping quartz sulphide lodes. It is interpreted that the east-dipping quartz sulphide lodes link at depth, from the Helens Fault near surface to the Fiona Fault located 100m to the east and potentially to the Cardinia Hill Fault, located a further 300m to the east. The Rangoon target therefore represents a new structural position away from the historical drilling locations and surface workings, which reinforces the significant prospectivity of the Eastern Corridor as a large mineralised system with several mineralised orientations - where deposits are linked together at depth and originate from a common source.

Assay results for the first 17 holes delineated zones up to 43m wide of near-surface mineralisation grading between 1.0g/t and 1.3g/t and located in structural positions that dip shallowly east and link at surface to the Helens Fault. The broad zones generally contain a core of higher grade (5-10m of +2.5g/t Au) sulphide mineralisation that is traceable along strike and down-dip. The results have confirmed the extension of the shallow, east-dipping lodes at Rangoon to depths up to 130m below surface for a strike extension of 400m.

Ore grade mineralisation is generally seen adjacent to the Helens Fault in one or two parallel, sulphide-rich zones, generally 7m to 15m in drill thickness within altered host rock. RC drill hole RN22RC161, which returned 12m at 5.62g/t from 129m and 12m at 2.25g/t from 149m down-hole, illustrates a two-lode intersection separated by approximately 8m of sub-grade mineralised host rock. RN22RC161 is the southern-most, highest grade and most consistent intersection recorded in the Rangoon RC drilling program to date.

The mineralisation remains open along strike to the south and down-dip to the east. At Rangoon the shallow east-dipping lodes, broad intersections such as in RN22RC145 (43m at 1.03g/t Au from 39m including 15m at 1.55g/t au from 48m), RN22RC146 (31m at 1.07g/t Au from 55m including 6m at 3.17g/t Au from 55m) and RN22RC147 (27m at 1.05g/t Au from 75m including 14m at 1.31g/t Au from 88m) - also demonstrate the nature of the new zones which contain both intersections of higher-grade quartz sulphide ore and altered rock containing disseminated sulphide between the higher-grade lodes. Intersections from earlier drilling programs such as RN21RC109 (19m at 2.48g/t Au from 91m) and RN21RC120 (12m at 3.04g/t Au from 62m) - drilled along the Helens Fault position - show both steep and shallow east nature of the sulphide-rich zone adjacent to the fault.

Next Steps: The latest drill results, together with a substantial amount of drilling in the Eastern Corridor over the last 12 months, is being incorporated into an updated Mineral Resource Estimate for the greater Eastern Corridor area. The update to the MRE is expected in the September Quarter and will include upgrades of the existing Helens and Cardinia Hill MRE and new estimates for the Rangoon and Fiona lodes, which have been the focus of most of the Eastern Corridor drilling during the Phase 5 program since October 2021.


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09/23Kin appoints highly experienced geologist leah moore as exploration manager to continue..
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Financials
Sales 2022 - - -
Net income 2022 -11,3 M -7,31 M -7,31 M
Net cash 2022 3,65 M 2,35 M 2,35 M
P/E ratio 2022 -4,97x
Yield 2022 -
Capitalization 70,3 M 45,3 M 45,3 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 47,7%
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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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