viewKingston Resources Ltd

Kingston Resources provides exploration update at AGM

Kingston outlined its exploration work plan for its flagship 2.8 million ounce Misima Gold Project in Papua New Guinea.

Kingston Resources Ltd - Kingston Resources provides exploration update at AGM
Misima was a former gold mine, closed in a period of gold prices of around US$300 per ounce

Kingston Resources Ltd (ASX:KSN) is focused on exploring and developing its flagship Misima Gold Project in Papua New Guinea.

Misima was operated as an open-pit gold mine from 1989 to 2001, with stockpiled ore treated for the final three years of the operation until 2004.

The operator mined 87.5 million tonnes at 1.46 g/t gold producing 3.7 million ounces of gold and 22 million ounces of silver.

Gold recoveries averaged 91.5% and costs averaged US$218 per ounce.

At the time the decision was made to close the mine, the gold price was below US$300 per ounce.

Focused on three key areas

In November 2017, Kingston revealed a 2.8 million ounces JORC resource grading 1.1 g/t gold across two deposits Umuna and Ewatinona.

Kingston commenced drilling in May 2018, which was the first exploration drilling for gold on Misima in almost 20 years.

The aim is to increase the resource inventory to over 3.0 million ounces with the key targets being Misima North, Umuna East and Quartz Mountain (Ewatinona and Abi).

Busy exploration work plan at Misima

Kingston shareholders remain exposed to continuous upcoming exploration-based news flow into 2020.

The work plan is as follows:

  • Drilling and resource modelling
    • Consolidation & review after each drill program
    • Complete Phase1 Umuna East drilling
    • Complete Phase 1 Misima North - Ara drilling
    • Stage 2 Resource definition drilling Ewatinona
    • Drill follow-up of GDD044 (Abi Prospect)
    • Review Umuna resource/reserve opportunities
    • Review Kulumalia geology and model
  • Maintain 2 drill rigs testing a portfolio of resource definition and advanced targets into 2020
  • Ewatinona and other mineral resource models H1 2020
  • Mining studies to commence from mid-2020

Quick facts: Kingston Resources Ltd

Price: 0.245 AUD

Market: ASX
Market Cap: $56.48 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Kingston Resources Ltd named herein, including the promotion by the Company of Kingston Resources Ltd in any Content on the Site, the Company...



Fireweed Zinc closes their financing bringing 5.2 million into the treasury

Fireweed Zinc (CVE: FF) Brandon MacDonald joined Steve Darling from Proactive Vancouver with news the company has completed their recent financing that will see them fully funded for 2020. MacDonald says that 5.2 million dollars will be used to get work started on the Boundary Zone and other...

1 day, 6 hours ago

2 min read