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    KIN   AU000000KIN8

KIN MINING NL

(KIN)
Delayed Australian Stock Exchange  -  11:45 2022-12-08 pm EST
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Kin Mining NL : Wide Zones of Shallow Gold Intersected at Rangoon

06/05/2022 | 06:42pm EST

For personal use only

ASX Announcement

6 June 2022

WIDE ZONES OF SHALLOW GOLD INTERSECTED AT RANGOON

Outstanding new results reveal extensive gold mineralised positions within the under-explored Eastern

Corridor, demonstrating the potential for further resource growth at the Cardinia Gold Project

Highlights

  • Significant new zones of gold mineralisation discovered east of the historical Rangoon surface workings in Reverse Circulation (RC) drilling. Results include:
    1. 43m at 1.03g/t Au from 39m (RN22RC145) including 15m at 1.55 g/t from 48m
    1. 31m at 1.07g/t Au from 55m (RN22RC146) including 6m at 3.17 g/t from 55m
    1. 27m at 1.05g/t Au from 75m (RN22RC147) including 14m at 1.31 g/t from 88m
    1. 23m at 1.28g/t Au from 53m (RN22RC140) including 7m at 3.49 g/t from 54m
    1. 11m at 2.01g/t Au from 102m (RN22RC143)
    1. 9m at 1.64g/t Au from 99m (RN22RC151)
    1. 5m at 2.06g/t Au from 87m (RN22RC152)
    1. 6m at 4.22g/t Au from 65m (RN22RC141); and
    1. 3m at 3.95g/t Au from 42m (RN22RC139)
  • New intersections confirm an east-dipping orientation to the mineralisation in this area, supporting previous broad intersections containing high-gradequartz-sulphide zones including:
    1. 19m at 2.48g/t Au from 91m (RN21RC109)
  1. 12m at 3.04g/t Au from 62m (RN21RC120)
    1. 4m at 5.50g/t Au from 145m and 2m at 4.67g/t Au from 128m (RN21RC110) o 4m at 4.39g/t Au from 44m (RN21RC119)
  • Interpretation shows high-grade quartz sulphide lodes that coalesce into a broad, quartz sulphide zone that dips east from the Helens Fault. Outstanding potential to expand the existing shallow 32koz Mineral Resource at Rangoon.
  • Mineralisation remains open along strike to the south and down-dip to the east. Assay results for a further 15 RC holes testing the southern extent are awaited.

Kin Mining NL (ASX: KIN or "the Company") is pleased to report highly encouraging new drilling results from its Eastern Corridor exploration program targeting the under-explored Rangoon area within its 100%-owned1.275Moz Cardinia Gold Project (CGP), located near Leonora in Western Australia.

ASX Code: KIN

Kin Mining NL

Shares on issue: 866 million

342 Scarborough Beach Road

Market Capitalisation: $78 million

Osborne Park WA 6017

Cash: $6.0 million (31 March 2022)

P: +61 9 9242 2227

E info@kinmining.com.au

kinmining.com.au

For personal use only

The results further reinforce the substantial endowment of the emerging Eastern Corridor at Cardinia and the potential to define additional resources in this under-explored area.

The Eastern Corridor program is aimed at enhancing the geological understanding of a number of prospects within what has emerged as a large, highly mineralised complex. Mineralisation discovered to date within the Eastern Corridor extends over an area of approximately 1km 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 exciting 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.

Kin Mining Managing Director, Andrew Munckton, said: "These latest results from Rangoon provide further definitive evidence of the Eastern Corridor potential. What is important here is the style of mineralisation we have been intersecting and the geometry of the lodes in a predominantly east-dippingorientation.

"The mineralisation is predominantly primary, sulphide hosted mineralisation, which is easily recognisable and has the same origins as the other mineralisation found along the Eastern Corridor - with similar alteration and pathfinder minerals. Recent metallurgical test work at Cardinia Hill has shown excellent recovery of gold from similar sulphide ores.

"These shallow, east-dipping lodes are wide (up to 43m down-hole) and seem to link the high-grade steep dipping lodes such as we see at Cardinia Hill, Fiona, Helens and Helens East together. The Eastern Corridor mineralisation has significant depth extent - we know that high grade zones persist up to 250m deep and probably well beyond this. This means that the potential along the Eastern Corridor is substantial.

"We continue to see great potential to discover further high-grade lodes, delineate new resources and grow our overall inventory across this corridor, which is a major growth opportunity for the company."

Figure 1. RC drill rig operating along strike from the historic Rangoon workings.

2

For personal use only

Figure 2. Kin Mining's Eastern Corridor Targets showing extensive fault and intrusion-controlled mineralisation. Recent

drilling (this announcement) was designed to test the area south extending from Rangoon along the Helens Fault.

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 by the Helens and Rangoon historical workings.

At Rangoon, the workings and previous broad-spaced RC and diamond core drilling intersected east-dipping quartz sulphide lodes. It is interpreted that the east-dipping quartz sulphide lodes link at depth, 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 potential new structural position away from the historical drilling locations and surface workings which reinforces the significant prospectivity of the Eastern Corridor as a large

3

For personal use only

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mineralised system with several mineralised orientations, where deposits are linked together at depth and originate from a common source (see Figure 2).

Assays have been returned for the initial 17 holes, with highlights shown in Table 1 and illustrated in Figure 3 and Figure 4. Drill-hole locations are summarised in Table 2.

The results have confirmed the discovery of significant zones of shallow east-dipping mineralisation both near- surface and at depth to the east of the existing Helens Fault position. Ore grade mineralisation is generally seen in one or two parallel sulphide-rich zones separated by low grade (<0.3 g/t Au) altered host rock.

In some areas drilling has intersected ore grade mineralisation up to 43m thick where the host rock between the strong sulphide rich zones is also mineralised. To date drilling has been completed to a depth of approximately 120m below surface over approximately 400m of strike length. Mineralisation remains open along strike to the south and down-dip to the east. The mineralisation dips shallowly to the east, at a high angle to the Helens Fault.

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) - 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.

Previous intersections RN21RC109 (19m at 2.48g/t Au from 91m) and RN21RC120 (12m at 3.04g/t Au from 62m) - drilled further south along the Helens Fault also show this broad, sulphide-rich zone feature (see ASX Announcement 12 April 2022).

See Figure 5 and Figure 6 for illustrations of the nature and orientation of the broad mineralisation.

Other intersections such as RN22RC139 (3m at 3.95g/t Au from 42m), RN22RC140 (7m at 3.49g/t Au from 54m), RN22RC141 (7m at 3.73g/t Au from 65m) and RN22RC142 (4m at 1.55g/t Au from 81m) show a single, east-dipping mineralised lode that is generally higher-grade gold with logged sulphide mineralisation. See Figure 5.

Further drilling has been completed to extend south and deeper to the east, the shallow east-dipping lodes. Once the assays for the remaining 15 RC holes from the latest round of drilling have been returned and interpreted further drilling is likely to explore for extensions to these new zones of mineralisation further to the south and east.

For personal use only

Figure 3. Kin Mining's Eastern Corridor Targets, part of the Cardinia Gold Project. Rangoon lies on the Helens Fault west

of the Fiona Fault and Cardinia Hill Fault.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Kin Mining NL published this content on 05 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 June 2022 22:41:01 UTC.


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Net cash 2022 3,65 M 2,48 M 2,48 M
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