Kin says Hobby could be serious business
Kin Mining’s phase three drilling at its flagship 945,000 ounce Cardinia gold project, near Leonora, Western Australia, has delivered additional significant intercepts outside current resources
14th August 2020
Resources Rising Stars
Kin Mining’s phase three drilling at its flagship 945,000 ounce Cardinia gold project, near Leonora, Western Australia, has delivered additional significant intercepts outside current resources, with a focus on a shallow gold zone emerging at the small Hobby deposit (reports MiningNews).
Assays from 24 additional RC holes are in, with 15 holes at Hobby returning hits such as 2m at 5.64 grams per tonne from 17m, 6m at 2.41gpt from 22m and 5m at 3.71gpt from 74m, all from outside the inferred resource of 100,000t at 2.1gpt for 8000oz.
Hobby is located north along strike from the Cardinia Hill-Helens area, and there is now consistent mineralisation associated with sulphidic lodes over a strike length of 500m, which remains open to the south and at depth.
Managing director Andrew Munckton, who has been driving the hunt for additional ounces since overseeing the pausing of the previous board's development program, said the phase three results confirm the presence of significant mineralisation outside the known deposit, reinforcing the substantial exploration upside at Cardinia.
Munckton said Hobby was now a key focus area for follow-up work as it looks for shallow, higher-grade material.
"Hobby certainly ticks every box in that respect," he said.
Drilling has also hit a new parallel zone to the west, indicated by 13m at 1.3gpt from 46m, which requires further investigation.
The company raised around A$9 million last month to accelerate drilling, and this morning's crop of results included five holes at the Faye Marie prospect and four holes at Black Chief, which are on trend from each other and are marked by historical workings.
Drilling at both returned only narrow mineralisation, with a peak 1m at 4.28gpt at Faye Marie and 1m at 2.84gpt at Black Chief, however the multi-element assessment of the felsic-mafic contact showed all holes were elevated in silver, arsenic, tellurium, antimony, molybdenum and tungsten, highlighting the continuation of the mineralised structure, despite the relatively low-order gold mineralisation encountered.
Kin suggested there was a continuous mineralised structure over 3km in length, with discontinuous gold mineralisation encountered in broad-spaced air-core and follow-up RC drilling.
Drilling continues with an aircore and RC rig operating across the Helens East, Pelsart, and East Lynne prospects and diamond drilling in progress at Cardinia Hill where recent RC drilling defined higher grade north-plunging shoots to the north.
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