Kingston Resources (ASX:KSN) has announced their quarterly report which includes key updates regarding the Misima (PNG) and Livingstone (WA) gold projects, as well as strong cash position.
What are the key highlights?
Misima Gold Project, PNG
- Pre-Feasibility Study (PFS) passes 60% completion milestone – on track for completion this Quarter together with an Ore Reserve.
- Proactive COVID management implemented on Misima Island, working together with the Misima hospital including procuring and donating PPE to hospital.
- Positive community relations activities including information sessions with local Misimans.
- Preparations finalised for next phase of drilling, which is now underway.
- Construction of on-site sample preparation laboratory to improve assay turnaround.
Livingstone Gold Project, WA
- Successful 4,390m Resource definition RC drilling program completed at the Kingsley Prospect, with key highlights including:
- 22m @ 3.65g/t Au from 20m, including 3m @ 20.60g/t Au
- 20m @ 1.96 g/t Au from 1m
- 10m @ 4.15g/t Au from surface, including 2m @ 8.40g/t Au
- 16m @ 1.49g/t Au from 2m
- Second ~1,500m drilling campaign targeting the Stanley, Winja, and Homestead prospects concluded in October.
- Further results anticipated in the coming weeks.
- Funds received from the over-subscribed $2m Share Purchase Plan in July.
- $300,000 Vox Royalty Corporation stock received as part consideration for the sale of the Higginsville Dry Creek royalty.
- Quarter-end cash balance of $6.8m.
For more information, please refer to the link below.