Key highlights of the announcement

Kingston Resources Limited (ASX: $KSN) has confirmed the presence of high-grade polymetallic mineralisation in A Lode, extending over a 400m strike length. The recent resource definition drilling at Mineral Hill's underground mine intercepted individual grades as high as 25.03g/t gold, 295g/t silver, 6.45% copper, 29.70% lead, and 34.71% zinc. The company is currently updating the Mineral Resource estimates and working on delivering an Ore Reserve estimate. As of 8th April 2024, Kingston Resources has 633.7 million shares on issue, a market capitalization of A$44.4 million, and A$10.7 million in cash.

Executive commentary on the results

Kingston Resources Chief Geologist, Stuart Hayward, expressed satisfaction with the results, emphasizing the high-grade nature of the deposit and the region's metal endowment. The continuous 400m strike length of mineralisation within the 'A Lode' in the Southern Ore Zone (SOZ), remaining open to the northwest and southeast, was highlighted. Hayward also mentioned the identification of new zones of mineralisation and the company's plans to expand SOZ with further drilling.

Summary of the announcement

The recent drilling at Mineral Hill's underground mine has unveiled high-grade polymetallic mineralisation, with individual grades as high as 25.03g/t gold, 295g/t silver, and 6.45% copper. Kingston Resources is currently updating the Mineral Resource estimates and working on delivering an Ore Reserve estimate. The company's Chief Geologist, Stuart Hayward, expressed satisfaction with the results and highlighted the continuous 400m strike length of mineralisation within the 'A Lode' in the Southern Ore Zone (SOZ). Kingston Resources aims to establish itself as a mid-tier gold and base metals company with multiple producing assets, focusing on maximizing returns from Tailings Project gold production, proactive exploration drilling, and underground re-entry at Mineral Hill Mine, NSW, and prioritizing ESIA reports, strategic funding, and development strategies at Misima Gold Project, PNG.