Kingston Resources Limited ('Kingston' or 'Company') (ASX: KSN) is pleased to report updated drilling and assay information from recent resource definition drilling at Mineral Hill's underground mine, intercepting individual grades as high as 25.03g/t gold, 295g/t silver, 6.45% copper, 29.70% lead and 34.71% zinc.

Drilling was designed as infill in areas of potential early production and extension to the northwest

Kingston Resources Chief Geologist, Stuart Hayward, comments: 'These are outstanding results, clearly illustrating the high-grade nature of the deposit and the region's metal endowment. The mineralisation within the 'A Lode' in the Southern Ore Zone (SOZ) is continuous over a 400m strike length, with mineralisation remaining open to the northwest and southeast. This highly successful drilling campaign has not only increased our confidence on the geological continuity, but also identified new zones of mineralisation ('new lode') in the footwall of SOZ and enhanced our understanding of the controls of the orebody. We've already pinpointed additional target areas to expand SOZ with further drilling.' Currently, the Southern Ore Zone (SOZ) underground mineral resource, stands at 3.8 million tonnes. This round of drilling has increased the understanding of and confidence in the controls of the orebody, which will aid in future exploration and resource expansion activities. Drill holes KSNDDH020, 21, 22 and 23 were drilled to infill the upper areas of the underground resources. Mineral Hill has existing underground development in place, allowing for a rapid restart of underground mining. The company released an underground production target in June 2023, which outlined a life of mine out to 2027 (see ASX Announcement on 29 June 2023). Access to the deeper parts of the underground mine has been reestablished and the development has been fully rehabilitated by pumping out water and installing ground support. Follow up drilling on these results will commence later this year from the underground drill platforms.

The mineralised intersections are typical of the Mineral Hill polymetallic deposit style. The deposit is characterised by metal zonation with some areas being more copper-gold rich and others being more leadzinc-silver dominant. The intersections in this round of drilling are characterised by intensely altered lodes 5- 40m wide with chalcopyrite, sphalerite and galena rich veining and breccia fill, with multi-generational quartzcarbonate-sulphide veining and breccias. Selected zones are very high in gold concentration, delivering highly elevated metal endowment overall in copper equivalent terms. Orientated drill core measurements confirm interpretations that the A lode mineralised lodes are steep west dipping consistent with the orientation and distribution of the other SOZ lode zones. A-lode breccia zones 5- 40m true width remain open along strike and down dip with current extents informed by drilling as standing at approximately 400m strike length and 200-250m down dip.

METAL EQUIVALENTS

This announcement quotes metal equivalent grades for significant mineralised intercepts. The process of selecting significant intercepts involves a first pass of calculating In-Situ Copper Equivalent (CuEqIS) by applying factors based on relative metal pricing. The first pass does not include metallurgical recovery. Drill hole intervals are reported as continuous zones at CuEqIS cut off grade of greater than 0.5% and 1.0%, with 2 metres maximum internal waste and minimum interval of 0.3mdh. Price assumptions used are based primarily on consensus forecasts with adjustments based on company expectations. Upon deriving the significant intercepts with CuEqIS, metallurgical recovery is applied to derive copper equivalent (CuEq) factors for reporting. These are calculated by dividing price/unit for each commodity (Cu/t, Au/oz, Ag/oz, Pb/t, Zn/t) and multiplying by the metallurgical recovery.

Contact:

Tel: +61 2 8021 7492

Email: info@kingstonresources.com.au

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