Kingsrose Mining Limited Stock Market Press Releases and Company Profile

View in Other Languages Kingsrose Mining Limited (ASX:KRM) Announces Mineral Resource Estimate for Talang Santo Prospect Kingsrose Mining Limited (ASX:KRM)公布Talang Santo探矿区矿产资源估算量 Kingsrose Mining Limited (ASX:KRM)公佈Talang Santo探礦區礦產資源估算量 
Kingsrose Mining Limited (ASX:KRM) Announces Mineral Resource Estimate for Talang Santo Prospect
Kingsrose Mining Limited (ASX:KRM) Announces Mineral Resource Estimate for Talang Santo Prospect

Perth, Dec 5, 2011 AEST (ABN Newswire) - Kingsrose Mining Limited (googlechartASX:KRM) is pleased to advise that drilling at its newly discovered Talang Santo Prospect (KRM 85%) has advanced enough to enable a maiden Mineral Resource Estimate to be completed: (see table 1 from the bottom of the link)

Notes

- The figures quoted represent the geological resource. No "Modifying Factors" have been applied as per the 2004 edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ("JORC Code").

- For the Talang Santo resource estimation, the geology model was formed via the incorporation of data from geological logging of drillhole data. The geology model was constructed by qualified PTNM geologists.

- Estimation took the form of an inverse distanced cubed interpolation to limit the effect of localised high-grade intersections.

- Gold equivalent values (Au. Eq.) assume 1 g/t Au is equivalent to 45 g/t Ag. The ratios used in gold equivalent calculations have evolved based on current (06-09-11) metal pricing and do not include any consideration of metallurgical recovery.

- The Classified Mineral Resource is reported above a 2.5 g/t Au. Eq. cut-off grade.

- A top-cut of 30.00g/t Au and 35.00g/t Ag was used during estimation.

- At this stage the level of data within the model is relatively sparse. Given the dimensions of the three veins, and the nature of the geology in the Talang Santo area it is thought appropriate to classify the entire resource as Inferred at this time pending closer spaced drilling and development sampling.

- Note that small discrepancies have occurred due to rounding.

Kingsrose has previously advised an update of its Mineral Resource Estimate as at 30 June 2011 (refer ASX September 2011 - Quarterlies Activity Report) and now incorporates the Talang Santo estimate into this estimate. A summary table of the consolidated Mineral Resource estimate is tabulated:

Way Linggo Project (KRM 85%) - Total Mineral Resource Estimate Summary (see link at the bottom of the release)

Kingsrose Managing Director, Chris Start said;

"This is a great result for Kingsrose. Talang Santo is a new virgin discovery and will become a second mine for the Company. To reach this point only nine months after the first drilling at the prospect is a great achievement. I am also pleased to advise that in keeping with the group's ability to develop small mines, an exploration adit has been established and the cross-cut is expected to hit the upper levels of the ore in about a week. The civils and headframe for an underlay shaft is now also established and shaft sinking has commenced. We expect the trial mining will rapidly progress to a second mining centre feeding ore to our Way Linggo plant approximately 7km due south."

Due to complications with the effective drilling of the epithermal veins nature and association with various stages of alteration and clays, Kingsrose believes the most effective way to validate results and confirm grades is by trial mining. Consequently, in rapid time Kingsrose has established an adit into the upper parts of the outcropping vein system. A cross orebody in about a week and commence

In addition, the civils and a headframe have been established and the sinking of a shaft to access the deeper parts of the orebody has commenced.

For the complete announcement including tables, please view:
http://media.abnnewswire.net/media/en/docs/70874-ASX-KRM-570564.pdf

Contact

Chris Start
Managing Director
Kingsrose Mining Limited
Tel: +61-8-9486-1149
Email: info@kingsrosemining.com.au



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