Misima Drilling Update
- Diamond drilling program on schedule for 10,000m in 2018
- Dispatch of samples to commence shortly
- Initial results anticipated in Q3
Drilling is progressing well, with the diamond rig achieving budgeted daily metres. Samples will soon begin to be dispatched to Lae for analysis with results anticipated next quarter. Relationships with local land owners and the broader community on Misima are excellent, and the Company enjoys the full support of the local people as it works towards its goal of ultimately recommencing mining operations on the island. Particular focus has been placed on hiring local employees for the Kingston and drill contractor's workforce. This has resulted in the current workforce being made up of more than 80% local Misimans, and more than 90% Papua New Guinea residents overall.
Kingston MD Andrew Corbett commented "The Kingston team on Misima continues to impress with mobilising a major drilling campaign on Misima with no safety incidents and full support from the local landowning groups. Alongside the drilling program, field work continues to advance a number of additional exploration targets outside the current resource. It is also extremely pleasing to see the impact Kingston is having on the ground first hand through local employment and reinvestment into the local community."
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About Kingston Resources Limited
Kingston (ASX:KSN) is a metals exploration company. Currently the Company's priority is the world-class Misima Gold Project in PNG, which contains a JORC resource of 2.8Moz Au, a production history of over 3.7Moz and outstanding potential for additional resource growth through exploration success. Kingston currently owns 49% of the Misima Gold Project and is earning in to 70%.
The Company also holds an attractive portfolio of lithium exploration tenements covering four key project areas in the Northern Territory, where the Bynoe Project is home to some exciting new discoveries and the Arunta Project lies within a significant pegmatite field. In addition, the Livingstone Gold Project holds a 50koz resource and is the site of a number of high grade historic intersections.
Kingston Resources Limited