Announcement Date: 2022-09-21
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Kin Mining NL
Project name: Cardinia
Location: Australia
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Kin Mining NL (ASX: KIN or “the Company”) is pleased to advise that its exploration-driven growth strategy for its flagship 100%-owned Cardinia Gold Project, located near Leonora in Western Australia, is continuing to deliver strong results with the announcement of an updated project-wide Mineral Resource Estimate (MRE). The updated September 2022 MRE has seen overall contained ounces increase by 10% to 1.41 million ounces (34.5Mt at 1.27g/t Au), reflecting the success of the strategic drilling programs undertaken by the Company over the past year, particularly within the under-explored Eastern Corridor. The new drilling around the Rangoon deposit within the Eastern Corridor has added an additional 62koz of Mineral Resource. The MRE for all optimised resources was also extended into underground mining positions below the open pit optimisation shells. At a 2.0g/t cut-off grade, this has added an additional 22koz, increasing the previous MRE announced on 23 September 2021 by a total of 3.36Mt at 1.22g/t for an additional 132koz of gold. The project wide MRE update includes reoptimized pit shells for all existing models using standardised parameters and software, a gold price of A$2,600 and 2019 Pre-Feasibility Study (PFS) for the CGP operating cost assumptions.
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