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KINGSTON RESOURCES LIMITED — Capital/Financing Update 2016
Apr 26, 2016
65206_rns_2016-04-26_a12d50e1-820d-45a5-a6a5-11d838ddb075.pdf
Capital/Financing Update
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www.kingstonresources.com.au ACN 009 148 529
27 April 2016 Company Announcements Office Australian Securities Exchange
Kingston pegs two Lithium tenements in Western Australia
Kingston Resources Limited (ASX: KSN) is pleased to announce that we have pegged two new Exploration Licence (EL) applications targeting Lithium mineralisation on the Yilgarn Craton of Western Australia. EL74-589 lies immediately south of the Mt Cattlin spodumene mine and EL74-577 covers a salt lake identified by Geoscience Australia as having high potential to host lithium and potash mineralisation.
These two applications expand Kingston’s portfolio of Lithium tenements following the three lithium focused applications pegged by the Company within the Arunta Region of the Northern Territory (ASX announcement 14 March 2016). Please note these exploration licence applications are subject to standard processes and procedures of the West Australian Department of Mines and Petroleum and the grant of the licences cannot be guaranteed.
| Tenement | State | Project | Km2 | Ownership |
|---|---|---|---|---|
| EL74-589 | WA | Manyutup | 8.5 | 100% |
| EL74-577 | WA | Recruit Hill | 129.8 | 100% |
EL74-589 Manyutup
Located in southern Western Australia adjacent to the township of Ravensthorpe, EL74-589 (Manyutup) covers the contact between the Annabelle Volcanics and the Manyutup Tonalite within the Yilgarn Craton. The Annabelle Volcanics host LCT-pegmatites which are prospective for lithium mineralisation and host the Mt Cattlin spodumene deposit, owned by Galaxy Resources Limited (ASX: GXY). EL74-589 lies immediately south of the Mt Cattlin mining lease with Anabelle Volcanics on EL74-589 just 2km south of the Mt Cattlin deposit itself (see Figure 1). Initial investigation of previous exploration within EL74-589 indicates the bulk of existing soil grids explored for base metals, but did not assay for lithium.
EL74-577 Recruit Hill
Located in southern Western Australia, EL74-577 (Recruit Hill) covers a non-perennial salt lake and Quaternary dunes system. Kingston is targeting lithium within brines associated with the salt lake groundwater system. An independent investigation by Geoscience Australia in the 2013 report “A Review of Australian Salt Lakes and Assessment of their Potential for Strategic Resources” highlighted the potential of the area to host lithium and potash mineralisation (see Figure 2). Kingston intends to investigate this mineralisation model through assessment of the hydrological system and regional geology with a view to identifying lithium concentrated within salt lake brines.
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25 - 27 Jewell Parade, North Fremantle, Western Australia 6159 +61 8 9336 6619 [email protected]
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www.kingstonresources.com.au ACN 009 148 529
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Figure 1: Kingston’s application EL74-589 south of the Mt Cattlin Lithium Mine
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25 - 27 Jewell Parade, North Fremantle, Western Australia 6159 +61 8 9336 6619 [email protected]
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www.kingstonresources.com.au ACN 009 148 529
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Figure 2: Kingston’s application EL74-577 overlaid on excerpt of Geoscience Australia’s “Salt lakes prospective for Lithium-enriched brines”
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25 - 27 Jewell Parade, North Fremantle, Western Australia 6159 +61 8 9336 6619 [email protected]
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