Kingston Resources Limited (KSN.AX) Misima Drilling Update
Kingston Resources Limited (ASX:KSN) (Kingston or the Company) is pleased to provide an update on drilling progress at the Misima Gold Project. The major diamond drilling campaign is targeting extensions to the existing 2.8Moz gold resource and drill-testing of newly discovered exploration targets at Umuna East Side. Kingston's program of 10,000m this year is the first gold exploration drilling on Misima for more than 15 years.
Highlights
- 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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Kingston Resources Limited T: +61-2-8021-7492 E: info@kingstonresources.com.au WWW: www.kingstonresources.com.au
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