Announcement Date: 2022-05-03
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Kingsrose Mining Ltd.
Project name: Way Linggo
Location: Indonesia
Commodities: Gold,Silver
Highlight: Drilling results incl. 11.7m @ 4.0g/t Au, 39.6g/t Ag from 137.4m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Kingsrose Mining Limited (ASX: KRM) (“Kingsrose” or the “Company”) is pleased to announce high-grade gold and silver intercepts from five core drill holes totalling 988.3 metres on the Maul Vein target at the Way Linggo project, Indonesia (Figures 1 to 3 and Tables 1 and 2). Five diamond drill holes totalling 988.3 metres were completed in February and March 2022 (Table 2). These holes were designed to test strike extensions from mineralisation identified in trenching and initial exploration drilling, as announced on 1 November 2021 and 20 January 2022, respectively. A total of ten holes for 1805.0 metres have now been completed at the Maul Vein target since it’s discovery in 2021. Drilling at the Maul Vein target has confirmed mineralisation over a strike length of 550 metres and to at least 200 metres below surface. Mineralisation remains open along strike in both directions, and potential remains to discover plunging shoots extending to depth. Holes DDH-601 to 603 have consistently returned wide, well mineralised intercepts and have extended mineralisation to the southeast in an open mineralised zone (Figure 3). At depth, DDH-600 returned 0.85 metres at 5.2 g/t gold from 260.4 metres downhole. This indicates that although narrow, the gold tenor remains elevated with potential for wider zones.
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