Company Announcements Office Australian Securities Exchange
for the period ending 31 December 2015
Six Mile Hill Copper-Gold Project: Drilling Completed and Assays received
In late October 2015, drilling was completed at Kingston's Six Mile Hill project with four holes drilled for a total of 2787.8m. All holes reached target depth and successfully explained our targeted geophysical anomalies as dense and magnetic mafic units. Detailed petrophysical measurements of the drill core confirm rocks of high density and magnetic susceptibility. None of the holes reached the base of the Gawler Range Volcanics.
Kingston undertook selective geochemical sampling of prospective intervals based on geological logging of the drill core. Assays did not return any significant results. Kingston and collaborative partners will now undertake detailed analysis of pathfinder trace elements in order to utilise geochemical vectoring methods targeting Iron Oxide Copper Gold (IOCG) style alteration.
Following the completion of drilling, a Curtin University / Deep Exploration Technologies Cooperative Research Centre seismic crew deployed to Six Mile Hill to conduct both surface and down-hole (Vertical Seismic Profile) surveys. The object of the surveys is to establish the depth to the base of the Gawler Range Volcanics. Results are expected in February 2016.
Government co-funded drilling at Cootanoorina Copper-Gold Project
Kingston has identified a NNW trending gravity feature with a coincident magnetic anomaly lying to the west of the Peake and Denison Inlier, beneath younger sedimentary cover (Figure 1). Numerous historic mines and mineral occurrences appear within the outcropping basement rocks to the east of the project area with mineralisation related to NNW trending structures.
Kingston is planning to drill test our best geophysical target, CT1, in the coming months.
Figure 1: Residual Detailed Bouguer gravity (2.67g/cc) with contours (0.33 mGal) and CT1 priority target.
Annual General Meeting
The Company's 2015 Annual General Meeting was held on 20 November 2015. All resolutions put to shareholders at that meeting passed unanimously.
Table 1: Tenement Schedule (ASX LR 5.3.3)
Tenement | State | Project | Km2 | Ownership | Change since last Quarter |
EL 5625 | SA | Cootanoorina | 508 | 100% | N/A |
EL 5487 | SA | Cootanoorina East | 311 | 100% | N/A |
EL 5599 | SA | Cootanoorina North | 24 | 100% | N/A |
EL 4915 | SA | Mt Eba | 237 | 100% | N/A |
EL 5626 | SA | Six Mile Hill | 296 | 100% | N/A |
EL 5498 | SA | Six Mile Hill East | 540 | 100% | N/A |
EL 5591 | SA | Six Mile North | 131 | 100% | N/A |
EL 5379 | SA | Sunset Hill | 160 | 100% | N/A |
EL 5011 | SA | Myall Creek | 381 | 50% | N/A |
EL 5010 | SA | Spencer | 321 | 25% | N/A |
Farm-In Arrangements as follows: | |||||
EL 5309 | SA | Cootanoorina | 36 | Earning in | Farm-In signed 12/7/15 |
EL 4933 | VIC | Orbost | 341 | Earning in | Farm-In signed 27/1/15 |
Please refer to the Appendix 5B quarterly commitments report for period ended 31 December 2015.
Dated this 21stday of January 2016. Mr Jonathan Davies
Chairman
Kingston Resources Limited
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
Rule 5.5
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013
Name of entity |
KINGSTON RESOURCES LIMITED (ASX: KSN) |
ABN | Quarter ended ("current quarter") |
44 009 148 529 | 31 DECEMBER 2015 |
Consolidated statement of cash flows
Cash flows related to operating activities | Current quarter $A'000 | Year to date (6 months) $A'000 | |
1.1 | Receipts from product sales and related debtors | - | - |
1.2 | Payments for (a) exploration & evaluation
| (136) - - (111) | (228) - - (254) |
1.3 | Dividends received | - | - |
1.4 | Interest and other items of a similar nature received | 3 | 4 |
1.5 | Interest and other costs of finance paid | - | - |
1.6 | Income taxes paid | - | - |
1.7 | Other (R&D Refund & GAAP funding) | 214 | 214 |
Net Operating Cash Flows | (30) | (264) | |
Cash flows related to investing activities | - - - | - - - | |
1.8 | Payment for purchases of: (a) prospects
| ||
1.9 | Proceeds from sale of: (a) prospects
| - - - | - - - |
1.10 | Loans to other entities | - | - |
1.11 | Loans repaid by other entities | - | - |
1.12 | Other (provide details if material) | - | - |
Net investing cash flows | - | - | |
1.13 | Total operating and investing cash flows (carried forward) | (30) | (264) |
+ See chapter 19 for defined terms.
01/05/2013 Appendix 5B Page 1
Kingston Resources Limited issued this content on 21 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 February 2016 15:17:31 UTC
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