Kin Mining targets resource growth and discoveries through new drilling at Cardinia Gold Project

Kin Mining NL (ASX:KIN) (FRA:8KM) has begun a phase 4 drilling program at the Cardinia Gold Project (CGP) in Western Australia off the back of a successful capital raising. The company recently raised $12 million via a placement and $3 million via a share purchase plan (SPP) and expects the new drilling program to expand the current mineral resource inventory at the CGP. It will also be seeking new gold discoveries in the Eastern Corridor and Eagle areas at the project near Leonora. Kin Mining managing director Andrew Munckton said: “We are very pleased to be back on the ground exploring the exciting targets that have been generated at Cardinia over the last six months through a combination of gravity surveys and soil geochemistry. “We are in a strong position once again this year to adopt an aggressive but considered approach to exploration at Cardinia following the recently announced $15 million capital raising.” Phase 4 drilling The Phase 4 program will comprise 32,500 metres of reverse circulation (RC), diamond drilling (DD) and aircore (AC) drilling designed to deliver new discoveries at Eagle and several targets within the Eastern Corridor, as well as expansions and upgrades of existing mineral resources at the high-priority Cardinia Hill and Bruno Lewis deposits. A 1,200-metre program of RC drilling is underway at Bruno-Lewis, where previous drilling returned consistent high-grade, near-surface gold mineralisation. Previously reported highlights from Bruno Lewis include 10 metres at 10.8 g/t gold from 15 metres, 14 metres at 6.09 g/t from 39 metres and 16 metres at 4.15 g/t from 40 metres. Following the completion of the initial RC drilling at Bruno-Lewis, the RC and DD rigs will move to the Eastern Corridor to complete two programs of work. Eastern Corridor programs The first stage of the program consisting of 5,600 metres of RC drilling, will focus on seven new targets and extension of the near-surface drilling database over the Eastern Corridor. A second program will consist of up to 8,700 metres of RC and DD drilling in several stages, and is designed to evaluate the strike and depth extensions around the Cardinia Hill deposit as well as to expand and upgrade the current inferred resource estimate of 1.2 million tonnes at 1.66 g/t gold for 61,000 ounces. AC drilling at Eagle Aircore drilling is also underway at Eagle, comprising approximately 17,000 metres of drilling at 400-metre and 200-metre line spacing, to provide a first-pass assessment of key targets. Previous RC drilling under historical workings on the eastern edge a the large soil anomaly intersected narrow, east-dipping zones of high-grade mineralisation including 11 metres at 4.34 g/t from 12 metres, 5 metres at 2.36 g/t from 21 metres, 3 metres at 27.1 g/t from 16 metres and 3 metres at 4.50 g/t from 24 metres. Eastern Corridor Targets 1 to 7 generated by the recent Gravity survey and integrated with multi-element soil geochemistry and historical and recent drilling data. Resource update planned Munckton said: “The first two programs of drilling at both Eagle and the seven targets identified at the Eastern Corridor will provide us with a clear view of the potential of these two large areas to host significant high-grade mineralised positions that may require follow up later in the year. “In addition, this first round of work is also targeting expansion and upgrading of the established mineral resources at both Bruno-Lewis and Cardinia Hill in several stages. “Recent high-grade drilling results at shallow depths at both these deposits have given us confidence that deeper drilling below the mineral resource positions and further shallow drilling along strike at Cardinia Hill will allow us to continue to expand and upgrade the resource estimate of the Cardinia Gold Project beyond the current 1.154 million ounces.” The company expects to deliver a further update to the current CGP mineral resource estimate in the March 2021 quarter. Gravity survey underway In addition, an extensive ground gravity survey is planned to cover the majority of the Cardinia area. Munckton said: “We are also looking forward to completing an expansion of the gravity survey, which has proven to be so important in identifying the primary controls on mineralisation at the Eastern Corridor deposits. “Gravity data has provided another important dataset with which to target large, high-grade deposits which we believe lie unidentified beneath shallow cover where soil geochemistry is less effective. “In summary, we believe the past few months have shown us exciting promise for more gold discoveries within the highly-mineralised Cardinia Project area and we are looking forward to what the drill rig can deliver for us this year!”