Kingston Resources delivers high-grade results; secures $8.8 million as part of $13.5 million raise
April 09, 2024 at 03:16 pm EDT
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Kingston Resources Ltd (ASX:KSN) CEO Andrew Corbett sits down with Proactive’s Jonathan Jackson to discuss updated assay information from recent resource definition drilling at Mineral Hill’s underground mine, intercepting individual grades as high as 25.03 g/t gold, 295 g/t silver, 6.45% copper, 29.7% lead and 34.71% zinc. Drilling was designed as infill in areas of potential early production and extension to the northwest.Corbett also discusses the completion of the $8.8 million institutional segment of the company’s $13.5 million capital raise, which includes a $8.1 million private placement and a $730,000 accelerated component. This move saw about 135.7 million new shares issued at $0.065 each, setting the stage for the next phase of funding.The capital injection is earmarked for advancing Kingston’s strategic initiatives, notably the development of the Misima Gold Project in Papua New Guinea and continued operations at the Mineral Hill mine in New South Wales. These projects are integral to Kingston's ambition to become a mid-tier entity in the gold and base metals sector.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Kingston Resources Limited is an Australia-based gold and copper company. The Company is producing gold from its Mineral Hill gold and copper mine in New South Wales (NSW) and is developing the 3.8 million ounces (Moz) Misima Gold Project in Papua New Guinea (PNG). The Mineral Hill Mine Project is 100% owned by the Company, which is an open pit and underground mine. It is focused on Tailings Project gold production in Mineral Hill Mine. The Mineral Hill Mine boasts an extensive gold, copper, zinc, lead and silver resource, alongside existing gold production and outstanding exploration upside. The 100% owned Misima Gold Project has the potential for a robust, scalable, and low-cost open pit operation. The Misima Gold Project consists of two deposits (Umuna and Ewatinona) and several exploration targets. The deposit style is low sulphidation carbonate base-metal epithermal, characterized by vein features and dominant silver, zinc, lead, gold, copper and manganese geochemistry.
KINGSTON RESOURCES LIMITED 
