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PATRONUS RESOURCES LIMITED — Capital/Financing Update 2021
Jan 13, 2021
65620_rns_2021-01-13_f0ba09e7-260a-4c76-81fd-6c1cf495b2aa.pdf
Capital/Financing Update
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ASX Announcement 14 January 2021
INITIAL AIR-CORE DRILLING AT IRON KING OUTLINES STRONG ZONES OF MINERALISATION AT AXFORD PROSPECT
400m-spaced drilling highlights potential new discovery with intersections of up to 2.2g/t associated with zones of quartz veining and breccias in mafic rocks extending over a strike length of 800m
Highlights
- Significant assay results received from the Axford prospect, part of an extensive air-core (AC) drilling program completed at 400m line spacings across the Iron King Project, located 45km north of Leonora in WA. Results included:
Axford
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16m at 0.93g/t Au from 56m (AX20AC111)
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6m at 1.91g/t Au from 40m (AX20AC116)
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4m at 2.08g/t Au from 40m (AX20AC117)
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4m at 2.19g/t Au from 0m (AX20AC018)
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4m at 1.50g/t Au from 56m (AX20AC077)
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16m at 0.49g/t Au from 24m (AX20AC138)
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The results confirm the continuity of mineralisation in AC drilling over a distance of 800m at Axford, with mineralisation identified along strike of limited historical drilling.
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Ore-grade gold mineralisation in the near-surface environment is present above a zone of quartz veining hosted mineralisation.
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The growing evidence from soil sampling, recent air-core drilling and historical drilling shows two parallel zones of mineralisation centred on the recently drilled Axford prospect and the historical Iron King prospect, which was subject to shallow open pit mining in the 1980’s.
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In-fill AC drilling to 200m line spacing at Axford and initial broad-spaced AC drilling along strike of the main Iron King open pit mine is planned to commence in the June 2021 quarter.
Kin Mining NL (ASX: KIN or “the Company”) is pleased to report significant new assay results from recent aircore (AC) drilling at the Iron King prospect, a potential satellite project located 45km north of Leonora in Western Australia separate to the Company’s flagship 100%-owned Cardinia Gold Project (CGP).
The drilling, together with multi-element soil geochemistry, has confirmed the potential of the Iron King Project to emerge as a significant new greenfields discovery which the Company plans to follow-up in parallel with its other exploration priorities at the CGP.
ASX Code: KIN Shares on issue: 700.4 million Market Capitalisation: $101 million Cash: $2.267 million (31 December 2020)
Kin Mining NL 342 Scarborough Beach Road Osborne Park WA 6017 P : +61 9 9242 2227 E [email protected]
kinmining.com.au
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The assays reported in this announcement are for the Axford, Private Roberts and Dalziel targets, all located at Iron King and highlighted by multi-element soil geochemical surveys completed in mid-2020.
The initial broad-spaced drilling program consisted of 11,425m of AC drilling at nominal 400m line spacing targeting three separate 2.0km long multi-element soil geochemical anomalies (Figure 1).
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Figure 1: Location of the Iron King AC drilling program. Air-core results for the Private Roberts, Axford and Dalziel targets are reported in this announcement.
Commenting on the latest drill results, Kin Mining Managing Director Andrew Munckton said: “A program of broad-spaced air-core drilling has delivered initial encouraging results from the Axford target at the Iron King satellite project. Mineralisation associated with east-west striking and south-dipping quartz veins and breccia zones in mafic rocks shows strong visual similarity to the vein systems mined at both the nearby Victory workings and the historical open pit excavation at Iron King.
“These are very encouraging results for this early stage of exploration and confirm that we have discovered extensions to historical RAB and RC drilling intercepts and confirmed a parallel zone of mineralisation at Axford, upgrading the potential of this target as a focus for follow-up exploration this year. We are looking forward to confirming the continuity of the Axford mineralisation by undertaking further in-fill air-core drilling at 200m line spacing. In addition, the strike extensions of the Iron King Open pit have been confirmed with soil geochemistry and present a compelling, walk-up drill target for the second phase of work
“We plan to commence this follow-up work in the June 2021 quarter given the significant number of other exploration priorities we need to attend to at Cardinia in the first quarter of 2021. We expect to report a
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significant number of assays from Cardinia in the coming weeks as we progressively receive results from drilling completed prior to Christmas.”
Axford Air-core Lines
The Axford target is located in the north-eastern sector of the Iron King Project, approximately 1.0km north of the historically mined Iron King open pit. The Iron King open pit produced approximately 20,000 tonnes at 9.0g/t Au for 5,600oz of gold mined.
Historical drilling results at Axford were derived from RAB drilling completed by Dominion Mining in the mid1990’s and a limited follow-up RC program completed by Kin Mining targeting historical workings previously referred to as the Crystal Ridge prospect.
The Company has completed a 4,152m AC program on four lines at nominal 400m line spacing at Axford targeting strike extensions of the existing mineralisation and parallel zones of mineralisation highlighted in the 2020 soil geochemical program.
Significant results have been received from several lines at the target. Refer Table 1 and Figure 2.
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Hole ID From To (m) Width Gold Comments
(m) (m) (g/t)
AX20AC018 0 4 4 2.19
AX20AC053 12 15 3 0.47
AX20AC059 20 24 4 0.62
AX20AC075 16 20 4 0.53
AX20AC077 56 60 4 1.50
76 81 5 0.73
AX20AC110 28 32 4 0.97
72 80 8 0.55
AX20AC111 56 72 16 0.93
AX20AC114 76 80 4 0.49
AX20AC115 32 36 4 0.46
AX20AC116 40 46 6 1.91
AX20AC117 8 12 4 0.54
44 48 4 2.08
AX20AC120 12 16 4 0.69
AX20AC132 12 16 4 0.43
60 64 4 0.45
AX20AC138 24 40 16 0.49
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Table 1 : Significant intercepts for the Axford prospect targeted with the air-core drilling program.
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Figure 2: Location of the Axford target AC drilling program over soil geochemical contours. Historical drilling results at Axford were derived from Dominion Mining RAB and limited Kin Mining RC drilling.
Private Roberts and Dalziel Air-core Lines
Air-core drilling was also conducted at the Private Roberts (3,058m) and Dalziel (4,215m) prospects.
The drilling targeted gold-in-soil anomalies delineated by the recent auger program (Figure 1). No significant AC drilling intercepts were generated from either target and the prospects have therefore been downgraded. No further work is currently planned at these prospects.
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Project Hole Id Easting Northing RL Azimuth Dip Depth
Axford AX20AC001 311797 6843566 435 180 -60 4
AX20AC002 311796 6843554 435 180 -60 3
AX20AC003 311795 6843543 434 180 -60 3
AX20AC004 311795 6843532 433 180 -60 3
AX20AC005 311795 6843523 432 180 -60 8
AX20AC006 311794 6843503 432 180 -60 6
AX20AC007 311793 6843494 431 180 -60 6
AX20AC008 311792 6843485 431 180 -60 10
AX20AC009 311792 6843476 432 180 -60 28
AX20AC010 311791 6843462 431 180 -60 20
AX20AC011 311791 6843449 430 180 -60 28
AX20AC012 311788 6843444 426 180 -60 40
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Project Hole Id Easting Northing RL Azimuth Dip Depth
AX20AC013 311788 6843414 428 180 -60 37
AX20AC014 311786 6843398 427 180 -60 19
AX20AC015 311786 6843384 428 180 -60 8
AX20AC016 311785 6843373 427 180 -60 9
AX20AC017 311787 6843360 428 180 -60 8
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AX20AC019 311790 6843333 429 180 -60 13
AX20AC020 311787 6843321 430 180 -60 8
AX20AC021 311785 6843308 431 180 -60 5
AX20AC022 311783 6843300 431 180 -60 5
AX20AC023 311781 6843285 432 180 -60 7
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AX20AC026 311780 6843252 434 180 -60 3
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AX20AC036 312404 6843678 444 180 -60 62
AX20AC037 312401 6843648 443 180 -60 58
AX20AC038 312399 6843614 447 180 -60 48
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AX20AC052 312377 6843375 444 180 -60 16
AX20AC053 312339 6843363 444 180 -60 15
AX20AC054 312380 6843341 445 180 -60 19
AX20AC055 312381 6843331 445 180 -60 19
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AX20AC057 312383 6843305 446 180 -60 22
AX20AC058 312387 6843294 446 180 -60 27
AX20AC059 312387 6843275 446 180 -60 27
AX20AC060 312385 6843260 447 180 -60 19
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Project Hole Id Easting Northing RL Azimuth Dip Depth
AX20AC061 312384 6843239 448 180 -60 21
AX20AC062 312388 6843225 449 180 -60 18
AX20AC063 312395 6843211 449 180 -60 15
AX20AC064 312403 6843202 451 180 -60 18
AX20AC065 312407 6843188 451 180 -60 18
AX20AC066 312396 6843176 453 180 -60 19
AX20AC067 312393 6843165 454 180 -60 21
AX20AC068 312392 6843152 456 180 -60 22
AX20AC069 312387 6843139 457 180 -60 25
AX20AC070 312387 6843122 458 180 -60 28
AX20AC071 312387 6843106 459 180 -60 20
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AX20AC074 312380 6843062 460 180 -60 24
AX20AC075 312594 6843663 447 180 -60 62
AX20AC076 312585 6843634 449 180 -60 41
AX20AC077 312581 6843615 448 180 -60 81
AX20AC078 312574 6843572 450 180 -60 62
AX20AC079 312561 6843543 450 180 -60 53
AX20AC080 312549 6843517 448 180 -60 29
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AX20AC098 312578 6843198 452 180 -60 31
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AX20AC100 312581 6843150 446 180 -60 19
AX20AC101 312582 6843131 450 180 -60 13
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AX20AC105 312593 6843053 450 180 -60 6
AX20AC106 312599 6843020 453 180 -60 6
AX20AC107 312596 6843037 450 180 -60 3
AX20AC108 313007 6843660 445 180 -60 54
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Project Hole Id Easting Northing RL Azimuth Dip Depth
AX20AC109 313009 6843626 440 180 -60 90
AX20AC110 313019 6843579 448 180 -60 88
AX20AC111 313016 6843540 448 180 -60 96
AX20AC112 313016 6843494 450 180 -60 71
AX20AC113 313015 6843459 450 180 -60 93
AX20AC114 313009 6843411 450 180 -60 87
AX20AC115 313011 6843365 449 180 -60 57
AX20AC116 313011 6843337 450 180 -60 46
AX20AC117 313009 6843314 447 180 -60 63
AX20AC118 313004 6843284 451 180 -60 42
AX20AC119 313010 6843260 450 180 -60 40
AX20AC120 313010 6843241 443 180 -60 32
AX20AC121 313009 6843222 447 180 -60 27
AX20AC122 313005 6843202 447 180 -60 40
AX20AC123 313008 6843185 443 180 -60 26
AX20AC124 313008 6843171 439 180 -60 29
AX20AC125 313008 6843157 442 180 -60 33
AX20AC126 313407 6843660 439 180 -60 67
AX20AC127 313415 6843631 441 180 -60 76
AX20AC128 313414 6843592 443 180 -60 65
AX20AC129 313417 6843560 442 180 -60 75
AX20AC130 313420 6843521 458 180 -60 70
AX20AC131 313421 6843495 450 180 -60 64
AX20AC132 313416 6843455 448 180 -60 68
AX20AC133 313406 6843419 448 180 -60 58
AX20AC134 313409 6843396 453 180 -60 54
AX20AC135 313405 6843368 427 180 -60 76
AX20AC136 313416 6843329 452 180 -60 80
AX20AC137 313410 6843292 453 180 -60 62
AX20AC138 313409 6843257 443 180 -60 77
AX20AC139 313407 6843217 452 180 -60 68
AX20AC140 313409 6843182 453 180 -60 41
AX20AC141 313403 6843153 452 180 -60 83
Dalziel DZ20AC001 312002 6841950 429 180 -60 15
DZ20AC002 311999 6841938 429 180 -60 10
DZ20AC003 311995 6841927 429 180 -60 11
DZ20AC004 311991 6841915 429 180 -60 14
DZ20AC005 311987 6841901 428 180 -60 8
DZ20AC006 311985 6841889 428 180 -60 12
DZ20AC007 311982 6841873 427 180 -60 14
DZ20AC008 311982 6841861 426 180 -60 17
DZ20AC009 311982 6841844 425 180 -60 16
DZ20AC010 311984 6841832 426 180 -60 21
DZ20AC011 311985 6841820 426 180 -60 19
DZ20AC012 311986 6841809 425 180 -60 22
DZ20AC013 311989 6841795 425 180 -60 26
DZ20AC014 311991 6841778 424 180 -60 31
DZ20AC015 311994 6841758 424 180 -60 27
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Project Hole Id Easting Northing RL Azimuth Dip Depth
DZ20AC016 311995 6841740 424 180 -60 29
DZ20AC017 311995 6841716 424 180 -60 35
DZ20AC018 311998 6841693 426 180 -60 40
DZ20AC019 312002 6841667 422 180 -60 43
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DZ20AC022 312002 6841571 428 180 -60 47
DZ20AC023 312003 6841542 425 180 -60 30
DZ20AC024 312003 6841522 428 180 -60 46
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DZ20AC032 312200 6842126 430 180 -60 7
DZ20AC033 312201 6842104 431 180 -60 7
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DZ20AC038 312231 6842017 429 180 -60 19
DZ20AC039 312231 6841997 429 180 -60 19
DZ20AC040 312213 6841985 429 180 -60 17
DZ20AC041 312215 6841962 428 180 -60 8
DZ20AC042 312221 6841942 427 180 -60 23
DZ20AC043 312228 6841915 427 180 -60 34
DZ20AC044 312234 6841892 426 180 -60 35
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DZ20AC052 312242 6841697 426 180 -60 31
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DZ20AC054 312240 6841655 425 180 -60 40
DZ20AC055 312240 6841634 424 180 -60 36
DZ20AC056 312239 6841611 424 180 -60 28
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DZ20AC060 312235 6841516 422 185 -60 45
DZ20AC061 312229 6841488 422 185 -60 38
DZ20AC062 312223 6841467 422 180 -60 36
DZ20AC063 312217 6841450 422 180 -60 34
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Project Hole Id Easting Northing RL Azimuth Dip Depth
DZ20AC064 312213 6841427 420 180 -60 35
DZ20AC065 312208 6841408 422 180 -60 39
DZ20AC066 312202 6841386 420 180 -60 38
DZ20AC067 312199 6841365 419 180 -60 40
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DZ20AC070 312399 6842111 428 180 -60 11
DZ20AC071 312394 6842096 429 180 -60 9
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DZ20AC075 312370 6842015 428 190 -60 35
DZ20AC076 312366 6841996 427 180 -60 32
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DZ20AC079 312361 6841936 425 180 -60 33
DZ20AC080 312362 6841920 426 180 -60 37
DZ20AC081 312362 6841899 428 180 -60 31
DZ20AC082 312363 6841884 428 180 -60 42
DZ20AC083 312362 6841862 427 180 -60 44
DZ20AC084 312362 6841837 426 180 -60 32
DZ20AC085 312362 6841817 425 180 -60 46
DZ20AC086 312364 6841785 422 180 -60 41
DZ20AC087 312364 6841758 422 180 -60 48
DZ20AC088 312366 6841726 428 180 -60 37
DZ20AC089 312367 6841701 425 180 -60 35
DZ20AC090 312368 6841677 425 180 -60 31
DZ20AC091 312368 6841658 424 180 -60 40
DZ20AC092 312368 6841635 423 180 -60 36
DZ20AC093 312370 6841608 423 180 -60 35
DZ20AC094 312372 6841586 422 180 -60 30
DZ20AC095 312375 6841561 429 180 -60 31
DZ20AC096 312376 6841539 427 180 -60 30
DZ20AC097 312378 6841512 425 180 -60 25
DZ20AC098 312381 6841482 425 180 -60 27
DZ20AC099 312383 6841456 424 180 -60 32
DZ20AC100 312386 6841436 424 180 -60 33
DZ20AC101 312387 6841415 423 180 -60 37
DZ20AC102 312388 6841391 423 180 -60 42
DZ20AC103 312394 6841369 424 180 -60 41
DZ20AC104 312397 6841343 421 180 -60 39
DZ20AC105 312603 6841954 436 180 -60 37
DZ20AC106 312602 6841929 431 180 -60 45
DZ20AC107 312603 6841895 430 180 -60 48
DZ20AC108 312608 6841865 423 180 -60 48
DZ20AC109 312609 6841838 424 180 -60 44
DZ20AC110 312612 6841814 424 180 -60 51
DZ20AC111 312612 6841786 417 180 -60 51
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Project Hole Id Easting Northing RL Azimuth Dip Depth
DZ20AC112 312611 6841755 422 180 -60 51
DZ20AC113 312610 6841726 423 180 -60 48
DZ20AC114 312609 6841697 424 180 -60 44
DZ20AC115 312609 6841670 424 180 -60 49
DZ20AC116 312608 6841640 424 180 -60 46
DZ20AC117 312605 6841612 423 180 -60 43
DZ20AC118 312600 6841584 424 180 -60 42
DZ20AC119 312594 6841558 424 180 -60 41
DZ20AC120 312594 6841534 413 180 -60 36
DZ20AC121 312593 6841509 417 180 -60 33
DZ20AC122 312591 6841488 422 180 -60 33
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DZ20AC124 312595 6841445 424 180 -60 30
DZ20AC125 312594 6841423 421 180 -60 32
DZ20AC126 312593 6841403 420 180 -60 11
DZ20AC127 312593 6841383 420 180 -60 32
DZ20AC128 312589 6841363 420 180 -60 31
DZ20AC129 312589 6841346 422 180 -60 32
Private PR20AC001 309001 6844603 408 165 -60 42
Roberts PR20AC002 309005 6844578 409 170 -60 27
PR20AC003 309005 6844566 412 170 -60 22
PR20AC004 309007 6844554 412 170 -60 13
PR20AC005 309009 6844550 413 170 -60 9
PR20AC006 309015 6844536 414 170 -60 7
PR20AC007 309016 6844525 415 170 -60 4
PR20AC008 309018 6844515 415 170 -60 8
PR20AC009 309024 6844504 416 175 -60 3
PR20AC010 309024 6844494 417 175 -60 33
PR20AC011 309026 6844478 416 175 -60 37
PR20AC012 309030 6844459 417 170 -60 9
PR20AC013 309036 6844447 417 175 -60 13
PR20AC014 309039 6844431 420 175 -60 32
PR20AC015 309042 6844420 426 175 -60 33
PR20AC016 309043 6844405 426 175 -60 40
PR20AC017 309047 6844388 427 170 -60 15
PR20AC018 309048 6844375 428 170 -60 15
PR20AC019 309049 6844368 428 175 -60 33
PR20AC020 309054 6844347 428 175 -60 27
PR20AC021 309056 6844331 428 175 -60 15
PR20AC022 309057 6844316 429 190 -60 8
PR20AC023 309053 6844307 429 190 -60 32
PR20AC024 309044 6844296 429 180 -60 28
PR20AC025 309037 6844281 429 180 -60 32
PR20AC026 309032 6844270 432 180 -60 29
PR20AC027 309024 6844261 432 180 -60 18
PR20AC028 309027 6844251 432 180 -60 6
PR20AC029 309022 6844238 433 180 -60 14
PR20AC030 309012 6844214 432 180 -60 7
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Project Hole Id Easting Northing RL Azimuth Dip Depth
PR20AC031 309403 6844881 427 180 -60 17
PR20AC032 309401 6844869 427 180 -60 9
PR20AC033 309400 6844859 426 180 -60 13
PR20AC034 309399 6844849 427 180 -60 5
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PR20AC051 309380 6844667 428 180 -60 4
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PR20AC053 309378 6844644 428 180 -60 31
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PR20AC055 309404 6844612 429 180 -60 18
PR20AC056 309366 6844580 429 180 -60 9
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PR20AC060 309356 6844525 430 180 -60 9
PR20AC061 309354 6844509 429 180 -60 7
PR20AC062 309353 6844492 428 180 -60 6
PR20AC063 309355 6844475 428 180 -60 3
PR20AC064 309356 6844457 428 180 -60 4
PR20AC065 309358 6844443 429 180 -60 6
PR20AC066 309357 6844424 427 180 -60 39
PR20AC067 309358 6844404 427 180 -60 18
PR20AC068 309358 6844389 427 180 -60 9
PR20AC069 309358 6844372 428 180 -60 20
PR20AC070 309358 6844357 427 180 -60 34
PR20AC071 309360 6844342 428 180 -60 25
PR20AC072 309356 6844324 428 180 -60 15
PR20AC073 309360 6844307 428 180 -60 7
PR20AC074 309362 6844274 429 180 -60 33
PR20AC075 309366 6844255 429 180 -60 30
PR20AC076 309367 6844239 429 180 -60 3
PR20AC077 309370 6844224 429 180 -60 7
PR20AC078 309368 6844207 429 180 -60 13
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----- Start of picture text -----
Project Hole Id Easting Northing RL Azimuth Dip Depth
PR20AC079 309373 6844191 431 180 -60 5
PR20AC080 309376 6844174 431 180 -60 6
PR20AC081 309375 6844152 436 180 -60 14
PR20AC082 309373 6844133 436 180 -60 8
PR20AC083 309373 6844119 435 180 -60 12
PR20AC084 309372 6844104 436 180 -60 12
PR20AC085 309371 6844089 436 180 -60 12
PR20AC086 309372 6844072 436 180 -60 15
PR20AC087 309373 6844056 437 180 -60 18
PR20AC088 309367 6844041 436 180 -60 11
PR20AC089 309364 6844025 436 180 -60 12
PR20AC090 309366 6844009 436 180 -60 7
PR20AC091 309365 6843993 436 180 -60 7
PR20AC092 309372 6843976 429 180 -60 15
PR20AC093 309372 6843961 429 180 -60 14
PR20AC094 309371 6843946 430 180 -60 33
PR20AC095 309375 6843928 431 180 -60 28
PR20AC096 309378 6843916 431 180 -60 24
PR20AC097 309804 6844765 428 180 -60 3
PR20AC098 309807 6844748 426 180 -60 6
PR20AC099 309799 6844732 426 180 -60 4
PR20AC100 309798 6844717 416 180 -60 3
PR20AC101 309794 6844700 420 180 -60 4
PR20AC102 309793 6844682 421 180 -60 3
PR20AC103 309793 6844663 422 180 -60 3
PR20AC104 309795 6844642 427 180 -60 5
PR20AC105 309797 6844627 424 180 -60 4
PR20AC106 309798 6844611 423 180 -60 6
PR20AC107 309801 6844592 423 180 -60 4
PR20AC108 309800 6844577 423 180 -60 16
PR20AC109 309800 6844560 423 180 -60 6
PR20AC110 309801 6844543 422 180 -60 3
PR20AC111 309803 6844527 422 180 -60 14
PR20AC112 309806 6844512 421 180 -60 7
PR20AC113 309809 6844494 421 180 -60 23
PR20AC114 309810 6844479 422 180 -60 13
PR20AC115 309812 6844463 421 180 -60 43
PR20AC116 309815 6844441 421 180 -60 27
PR20AC117 309817 6844424 420 180 -60 12
PR20AC118 309818 6844410 421 180 -60 3
PR20AC119 309820 6844394 420 180 -60 4
PR20AC120 309826 6844373 424 180 -60 3
PR20AC121 309826 6844361 427 180 -60 2
PR20AC122 309826 6844345 425 180 -60 7
PR20AC123 309828 6844327 423 180 -60 7
PR20AC124 309831 6844308 425 180 -60 3
PR20AC125 309830 6844294 425 180 -60 1
PR20AC126 309829 6844280 424 180 -60 1
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Project Hole Id Easting Northing RL Azimuth Dip Depth
PR20AC127 309784 6844261 422 180 -60 21
PR20AC128 309790 6844250 422 180 -60 12
PR20AC129 309815 6844218 423 180 -60 9
PR20AC130 309811 6844202 423 180 -60 22
PR20AC131 309808 6844191 423 180 -60 12
PR20AC132 309806 6844171 423 180 -60 11
PR20AC133 309804 6844157 421 180 -60 3
PR20AC134 309803 6844143 421 180 -60 35
PR20AC135 309803 6844129 421 180 -60 33
PR20AC136 309802 6844113 421 180 -60 35
PR20AC137 309800 6844095 421 180 -60 13
PR20AC138 309802 6844079 420 180 -60 34
PR20AC139 309795 6844062 421 180 -60 30
PR20AC140 309795 6844041 420 180 -60 21
PR20AC141 309795 6844027 420 180 -60 14
PR20AC142 309792 6844008 420 180 -60 34
PR20AC143 309789 6843985 421 180 -60 33
PR20AC144 309793 6843967 419 180 -60 33
PR20AC145 309789 6843955 420 180 -60 19
PR20AC146 309787 6843937 421 180 -60 4
PR20AC147 309786 6843920 421 180 -60 21
PR20AC148 309787 6843905 421 180 -60 27
PR20AC149 309787 6843889 421 180 -60 15
PR20AC150 309790 6843872 421 180 -60 14
PR20AC151 309791 6843862 421 180 -60 6
PR20AC152 309797 6843842 420 180 -60 10
PR20AC153 309802 6843827 419 180 -60 6
PR20AC154 310207 6844515 429 180 -60 28
PR20AC155 310205 6844498 428 180 -60 22
PR20AC156 310204 6844483 427 180 -60 16
PR20AC157 310198 6844462 424 180 -60 12
PR20AC158 310195 6844447 422 180 -60 5
PR20AC159 310193 6844431 423 180 -60 6
PR20AC160 310192 6844419 422 180 -60 11
PR20AC161 310190 6844403 423 180 -60 14
PR20AC162 310188 6844389 422 180 -60 9
PR20AC163 310185 6844372 422 180 -60 38
PR20AC164 310184 6844358 422 180 -60 33
PR20AC165 310183 6844339 422 180 -60 21
PR20AC166 310182 6844325 422 180 -60 20
PR20AC167 310181 6844308 421 180 -60 14
PR20AC168 310181 6844293 421 180 -60 36
PR20AC169 310180 6844271 421 180 -60 9
PR20AC170 310182 6844258 421 180 -60 9
PR20AC171 310181 6844236 421 180 -60 3
PR20AC172 310182 6844220 419 180 -60 9
PR20AC173 310181 6844201 420 180 -60 6
PR20AC174 310180 6844185 421 180 -60 15
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Project Hole Id Easting Northing RL Azimuth Dip Depth
PR20AC175 310177 6844169 419 180 -60 15
PR20AC176 310172 6844153 419 180 -60 30
PR20AC177 310172 6844140 419 180 -60 22
PR20AC178 310178 6844124 419 180 -60 15
PR20AC179 310187 6844111 420 180 -60 30
PR20AC180 310196 6844095 420 180 -60 12
PR20AC181 310198 6844078 420 180 -60 36
PR20AC182 310183 6844064 420 180 -60 10
PR20AC183 310186 6844050 420 180 -60 15
PR20AC184 310188 6844034 420 180 -60 21
PR20AC185 310191 6844020 420 180 -60 12
PR20AC186 310193 6844004 419 180 -60 7
PR20AC187 310195 6843990 421 180 -60 4
PR20AC188 310198 6843974 421 180 -60 16
PR20AC189 310200 6843959 422 180 -60 14
PR20AC190 310201 6843942 422 180 -60 37
PR20AC191 310204 6843926 423 180 -60 35
PR20AC192 310209 6843907 422 180 -60 25
PR20AC193 310226 6843887 423 180 -60 21
PR20AC194 310219 6843871 422 180 -60 22
PR20AC195 310218 6843856 422 180 -60 13
PR20AC196 310216 6843834 421 180 -60 19
PR20AC197 310214 6843817 421 180 -60 18
PR20AC198 310211 6843802 421 180 -60 28
PR20AC199 310210 6843784 422 180 -60 26
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Table 2: Drill-hole details for the AC drilling conducted at the Iron King prospect
-ENDS-
Authorised for release by the Board of Directors
For further information, please contact:
Investor enquiries
Media enquiries
Andrew Munckton Managing Director, Kin Mining NL +61 8 9242 2227
Nicholas Read Read Corporate +61 419 929 046
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ABOUT KIN MINING NL
Kin Mining NL (ASX: KIN) is a West Australian based gold development and exploration company. Kin’s key focus is its 100% owned Cardinia Gold Project (CGP) located in the highly prospective North-Eastern Goldfields region of Western Australia. The CGP has a 1154koz gold Mineral Resource (see Table A1) defined in both oxide and deeper primary mineralisation with considerable potential to grow this resource with further drilling.
Table A1. Mineral Resource Estimate Table December 2020[1]
| Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | Cardinia Gold Project: Mineral Resources: December 2020 | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Project Area | Resource Gold Price (AUD) |
Lower Cut off (g/t Au) |
Measured Resources | Indicated Resources | Inferred Resources | Total Resources | Date Announced |
||||||||
| Tonnes (Mt) |
Au (g/t Au) |
Au (k Oz) |
Tonnes (Mt) |
Au (g/t Au) |
Au (k Oz) |
Tonnes (Mt) |
Au (g/t Au) |
Au (k Oz) |
Tonnes (Mt) |
Au (g/t Au) |
Au (k Oz) |
||||
| Mertondale | |||||||||||||||
| Mertons Reward | $2,600 | 0.4 | 0.9 | 2.17 | 66 | 1.9 | 0.65 | 41 | 2.9 | 1.15 | 106 | 26-Nov-20 | |||
| Mertondale 3-4 | $2,600 | 0.4 | 1.4 | 1.85 | 81 | 1.0 | 0.97 | 31 | 2.3 | 1.48 | 111 | 26-Nov-20 | |||
| Tonto | $2,600 | 0.4 | 1.8 | 1.14 | 67 | 1.1 | 1.24 | 43 | 2.9 | 1.18 | 111 | 26-Nov-20 | |||
| Mertondale 5 | $2,600 | 0.4 | 0.5 | 1.67 | 26 | 0.8 | 1.24 | 32 | 1.3 | 1.40 | 59 | 26-Nov-20 | |||
| Eclipse | $2,600 | 0.4 | 0.6 | 1.01 | 19 | 0.6 | 1.01 | 19 | 26-Nov-20 | ||||||
| Quicksilver | $2,600 | 0.4 | 1.1 | 1.10 | 39 | 1.1 | 1.10 | 39 | 26-Nov-20 | ||||||
| Subtotal Mertondale | 4.6 | 1.61 | 240 | 6.5 | 0.98 | 205 | 11.1 | 1.24 | 445 | ||||||
| Cardinia | |||||||||||||||
| Bruno | $2,600 | 0.4 | 1.2 | 0.89 | 35 | 2.6 | 1.17 | 96 | 3.8 | 1.08 | 132 | 26-Nov-20 | |||
| Lewis | $2,600 | 0.4 | 0.4 | 0.98 | 13 | 4.8 | 0.85 | 131 | 1.5 | 1.00 | 48 | 6.3 | 0.89 | 179 | 26-Nov-20 |
| Kyte | $2,600 | 0.4 | 0.3 | 1.53 | 17 | 0.1 | 0.92 | 3 | 0.4 | 1.38 | 20 | 26-Nov-20 | |||
| Helens | $2,600 | 0.4 | 0.7 | 2.14 | 50 | 0.3 | 1.94 | 19 | 1.0 | 2.08 | 69 | 26-Nov-20 | |||
| Fiona | $2,600 | 0.4 | 0.6 | 1.35 | 25 | 0.2 | 1.21 | 8 | 0.8 | 1.32 | 32 | 26-Nov-20 | |||
| Rangoon | $2,600 | 0.4 | 0.5 | 1.24 | 21 | 0.3 | 1.07 | 12 | 0.9 | 1.17 | 32 | 26-Nov-20 | |||
| Hobby* | $2,000 | 0.5 | 0.1 | 2.10 | 8 | 0.1 | 2.10 | 8 | 14-Feb-20 | ||||||
| Cardinia Hill** | $2,600 | 0.4 | 1.2 | 1.66 | 61 | 1.2 | 1.66 | 61 | 18-Dec-20 | ||||||
| Subtotal Cardinia | 0.4 | 0.98 | 13 | 8.2 | 1.06 | 279 | 6.3 | 1.26 | 255 | 14.5 | 1.15 | 534 | |||
| Raeside | |||||||||||||||
| Michaelangelo | $2,600 | 0.4 | 1.1 | 2.00 | 73 | 0.4 | 2.19 | 25 | 1.5 | 2.04 | 98 | 26-Nov-20 | |||
| Leonardo | $2,600 | 0.4 | 0.4 | 2.39 | 30 | 0.2 | 2.20 | 14 | 0.6 | 2.32 | 44 | 26-Nov-20 | |||
| Forgotten Four | $2,600 | 0.4 | 0.1 | 2.09 | 7 | 0.1 | 1.96 | 6 | 0.2 | 2.03 | 14 | 26-Nov-20 | |||
| Krang | $2,600 | 0.4 | 0.3 | 1.74 | 17 | 0.0 | 2.59 | 2 | 0.3 | 1.80 | 19 | 26-Nov-20 | |||
| Subtotal Raeside | 2.0 | 2.04 | 128 | 0.7 | 2.17 | 47 | 2.6 | 2.07 | 175 | ||||||
| TOTAL | 0.4 | 0.98 | 13 | 14.8 | 1.36 | 647 | 13.4 | 1.17 | 507 | 28.2 | 1.27 | 1154 |
Table 1: Mineral Resource Estimate Table December 2020. Mineral Resources estimated by Jamie Logan, and reported in accordance with JORC 2012 using a 0.4g/t Au cut-off within AUD2,600 optimisation shells. Note * Hobby was not reoptimised as part of this MRE and is still reported at the lower gold price and higher cut-off grade. Note ** Cardinia Hill Mineral Resource Estimate completed by Cube Consultingl.
1The company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Announcement of 22 December 2020 “Cardinia Gold Project Mineral Resource Increased to 1.15Moz”, and that all material assumptions and technical parameters underpinning the estimates in that announcements continue to apply and have not materially changed.
COMPETENT PERSON’S STATEMENT
The information contained in this report relating to exploration results relates to information compiled or reviewed by Glenn Grayson. Mr. Grayson is a member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of the company. Mr. Grayson has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves".
Mr. Grayson consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
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Appendix A
JORC 2012 TABLE 1 REPORT
Iron King Project - Section 1 & 2
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
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Criteria JORC Code explanation Commentary
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| Criteria JORC Code explanation Commentary |
Criteria JORC Code explanation Commentary |
Criteria JORC Code explanation Commentary |
Criteria JORC Code explanation Commentary |
|---|---|---|---|
| Sampling techniques | Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g charge forfire assay’). In other |
RC Historic reverse circulation (RC) drill samples were collected over 1m downhole intervals beneath a cyclone and typically riffle split to obtain a sub-sample (typically 3-4kg). 1m sub-samples were typically collected in pre-numbered calico bags and 1m sample rejects were commonly stored at the drill site. 3m or 4m composited interval samples were often collected by using a scoop (dry samples) or spear (wet samples). If composite samples returned anomalous results once assayed, the single metre sub-samples of the anomalous composite intervals were retrieved and submitted for individual gold analysis. AC/RAB Historic air core (AC) and rotary air blast (RAB) were typically collected at 1 metre intervals and placed on the ground with 3-4kg sub-samples collected using a scoop or spear. Three metre or four metre composited interval samples were often collected by using a scoop (dry samples) or spear (wet samples). If composite samples returned anomalous results once assayed, the single metre sub-samples of the anomalous composite intervals were retrieved and submitted for individual gold analysis. Recent AC drilling followed a similar procedure with 4m composite samples taken. No 1m split samples were collected for 2020 AC drilling. Assay Methodology Historic sample analysis typically included a number of commercial laboratories with preparation as per the following method, oven drying (90-110°C), crushing (<-2mm to <-6mm), pulverizing (<-75μm to <-105μm), and riffle split to obtain a 30, 40, or 50gram catchweight for gold analysis. Fire Assay fusion, with AAS finish was the common method of analysis however, on occasion, initial assaying may have been carried out via Aqua Regia digest and AAS/ICP finish. Anomalous samples were subsequently re-assayed by Fire Assay fusion and AAS/ICP finish. Recent sample analysis typically included oven drying (105-110°C), crushing (<-6mm & <-2mm), pulverising (P90% <-75μm) and sample splitting to a representative 50gram catchweight sample for gold only analysis using Fire Assay fusion with AAS finish. Multi element analysis was also conducted on a bottom-of-hole sample for every hole. This was sieved and washed in the field to provide a representative sample of the rock. Assaying was conducted via a 4-acid digest with ICP-MS/OES determination for a 48 element suite. |
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Criteria JORC Code explanation Commentary
cases more explanation may be Auger
required, such as where there is coarse All auger samples were collected via a specialist auger drilling rig. 0.5m samples were tested with acid for carbonate content
gold that has inherent sampling with the highest reacting sample submitted to the lab. This was assayed via aqua regia for a 26 element suite.
problems. Unusual commodities or All recent drilling, sample collection and sample handling procedures were conducted and/or supervised by KIN geology
mineralisation types (eg submarine personnel to high level industry standards. QA/QC procedures were implemented during each drilling program to industry
nodules) may warrant disclosure of standards.
detailed information.
Drilling techniques Drill type (eg core, reverse circulation, RC
open-hole hammer, rotary air blast, Historic RC drilling typically used conventional reverse circulation drilling techniques, utilising a cross-over sub, or face-sampling
auger, Bangka, sonic, etc) and details hammers with bit shrouds. Drill bit sizes typically ranged between 110-140mm.
(eg core diameter, triple or standard AC/RAB
tube, depth of diamond tails, face-
Historic AC drilling was conducted utilising suitable rigs with appropriate compressors (eg 250psi/600cfm). AC holes were drilled
sampling bit or other type, whether core using ‘blade’ or ‘wing’ bits, until the bit was unable to penetrate (‘blade refusal’), often near the fresh rock interface. Hammer
is oriented and if so, by what method, bits were used only when it was deemed necessary to penetrate further into the fresh rock profile or through notable “hard
etc). boundaries” in the regolith profile. No downhole surveying is noted to have been undertaken on AC drillholes.
Historic RAB drilling was carried out using small air compressors (eg 250psi/600cfm) and drill rods fitted with a percussion
hammer or blade bit, with the sample return collected at the drillhole collar using a stuffing box and cyclone collection
techniques. Drillhole sizes generally range between 75-110mm. No downhole surveying is noted to have been undertaken on
RAB drillholes.
2020 AC drilling
Drill sample recovery Method of recording and assessing core RC/AC/RAB
and chip sample recoveries and results Historic sample recovery information for RC, AC, and RAB drilling is limited.
assessed.
Recent AC drilling sample recovery is constantly monitored and samples are preserved as best as possible during the drilling
Measures taken to maximise sample process. Sample recovery is recorded by KIN staff during sampling.
recovery and ensure representative
nature of the samples.
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse
material.
Logging Whether core and chip samples have Logging data coded in the database, prior to 2018, illustrates numerous different lithological code systems, a legacy of numerous
been geologically and geotechnically past operators. Correlation between codes is difficult to establish however, based on historical reports, drill hole logging procedures
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| Criteria | JORC Code explanation | Commentary | |
|---|---|---|---|
| logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. |
appear consistent with normal industry practices of the time. RC/AC/RAB Historical RC, AC, and RAB logging was entered on a metre by metre basis. Logging consisted of lithology, alteration, texture, mineralisation, weathering, and other features For the majority of historical drilling the entire length of each drillhole have been logged from surface to ‘end of hole’. KIN RC logging of was carried out in the field and logging has predominantly been undertaken on a metre by metre basis. KIN logging is inclusive of the entire length of each AC drillhole from surface to ‘end of hole’. Recorded data includes lithology, alteration, structure, texture, mineralisation, sulphide content, weathering and other features. Drillhole collar coordinates, azimuth, dip, depth and sampling intervals are also recorded. Qualitative logging includes classification and description of lithology, weathering, oxidation, colour, texture and grain size. Quantitative logging includes identification and percentages of mineralogy, sulphides, mineralisation, and veining. All information collected is entered directly into laptop computers or tablets, validated in the field, and then transferred to the database. The level of logging detail is considered appropriate for exploration and to support appropriate mineral resource estimation, mining studies, and metallurgical studies. |
||
| Sub-sampling techniques and sample preparation |
If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half |
RC/AC/RAB Historic sampling was predominantly conducted by collecting 1m samples from beneath a cyclone and either retaining these primary samples or passing through a riffle splitter to obtain a 3-4kg sub-sample for analysis. First pass sampling often involved collecting composite samples by using a scoop (dry samples) or spear/tube (wet samples) to obtain 3m or 4m composited intervals, with the single metre split samples being retained at the drill site as spoil or in sample bags. If composite sample assays returned anomalous results, the single metre samples for this composite were retrieved and submitted for analysis. RC/AC/RAB sampling procedures are believed to be consistent with the normal industry practices at the time. Samples obtained from conventional RC drilling techniques with cross-over subs often suffered from down hole contamination, especially beneath the water table. Samples obtained from RC drilling techniques using the face sampling hammer suffered less from down hole contamination and were more likely to be kept dry beneath the water table, particularly if auxiliary and booster air compressors were used. These samples are considered to be representative. The vast majority of Reverse Circulation (RC) drill samples were collected at 1m downhole intervals from beneath a cyclone and then riffle split to obtain a sub-sample (typically 3-4kg). After splitting, 1m sub-samples were typically collected in pre- numbered calico bags, and the 1m sample rejects were commonly stored at the drill site in marked plastic bags, for future reference. First pass sampling often involved collecting composite samples by using a scoop (dry samples) or spear/tube (wet samples) to obtain 3m or 4m composited intervals, with the single metre split sub-samples being retained at the drill site. If the composite sample assays returned anomalous results, single metre sub-samples for the anomalous composite intervals were retrieved and submitted for analysis. |
18
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. |
Recent AC sub-samples were collected as 4m composite sample using a scoop, taken from ground piles of 1m intervals after passing through a cyclone. The majority of AC sub-samples consistently averaged 2.5-4kg. KIN AC drill programs utilise field duplicates, at regular intervals at a ratio of 1:25, and assay results indicate that there is reasonable analytical repeatability; considering the presence of nuggety gold. All sub-sampling techniques and sample preparation procedures conducted and/or supervised by KIN geology personnel are to standard industry practice. Sub-sampling and sample preparation techniques used are considered to maximise representivity of drilled material. QA/QC procedures implemented during each drilling program are to industry standard practice. Samples sizes are considered appropriate for this style of gold mineralisation and as an industry accepted method for evaluation of gold deposits in the Eastern Goldfields of Western Australia. |
|
| Quality of assay data and laboratory tests |
The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. |
Numerous assay laboratories and various sample preparation and assay techniques have been used. Historical reporting and descriptions of laboratory sample preparation, assaying procedures, and quality control protocols for the samples from the various drilling programs are variable in their descriptions and completeness. Limited information is available regarding check assays for drilling programs prior to 2004. KIN sample analysis from 2014 to 2018 was conducted by SGS Australia Pty Ltd’s (“SGS”) Kalgoorlie and Perth laboratories. Sample preparation included oven drying (105°C), crushing (<6mm), pulverising (P90% passing 75µm) and riffle split to obtain a 50 gram catchweight. Analysis for gold only was carried out by Fire Assay fusion technique with AAS finish (SGS Lab Code FAA505). KIN regularly insert blanks and CRM standards in each sample batch at a ratio of 1:50. This allows for at least one blank and one CRM standard to be included in each of the laboratory’s fire assay batch of 50 samples. Field duplicates are typically collected at a ratio of 1:50 samples and test sample assay repeatability. Blanks and CRM standards assay result performance is predominantly within acceptable limits for this style of gold mineralisation. KIN requests laboratory pulp grind and crush checks at a ratio of 1:50 or less since May 2018 in order to better qualify sample preparation and evaluate laboratory performance. Samples have generally illustrated appropriate crush and grind size percentages since the addition of this component to the sample analysis procedure. SGS include laboratory blanks and CRM standards as part of their internal QA/QC for sample preparation and analysis, as well as regular assay repeats. Sample pulp assay repeatability, and internal blank and CRM standards assay results are typically within acceptable limits. From late 2018 samples have been analysed by Intertek Genalysis, with sample preparation either at their Kalgoorlie prep laboratory or the Perth Laboratory located in Maddington. Sample preparation included oven drying (105°C), crushing (<6mm), pulverising (P90% passing 75µm) and split to obtain a 50 gram catchweight. Analysis for gold only was carried out by Fire Assay fusion technique with AAS finish. KIN regularly insert blanks and CRM standards in each sample batch at a ratio of 1:25 for RC sampling and 1:50 for AC. Kin accepts that this ratio of QAQC is industry standard. Field duplicates are typically collected at a ratio of 1:25 samples for RC and 1:50 for AC, to test sample assay repeatability. Blanks and CRM standards assay result performance is predominantly within acceptable limits for this style of gold mineralisation. KIN requests laboratory pulp grind and crush checks at a ratio of 1:50 or less since May2018 in order to betterqualifysample |
19
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Criteria
JORC Code explanation Commentary
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preparation and evaluate laboratory performance. Samples have generally illustrated appropriate crush and grind size
percentages since the addition of this component to the sample analysis procedure.
Genalysis include laboratory blanks and CRM standards as part of their internal QA/QC for sample preparation and analysis,
as well as regular assay repeats. Sample pulp assay repeatability, and internal blank and CRM standards assay results are
typically within acceptable limits.
The nature and quality of the assaying and laboratory procedures used are considered to be satisfactory and appropriate for use
in mineral resource estimations.
Fire Assay fusion is considered to be a total extraction technique. The majority of assay data used for the mineral resource
estimations were obtained by the Fire Assay technique with AAS or ICP finish. AAS and ICP methods of detection are both
considered to be suitable and appropriate methods of detection for this style of mineralisation
Aqua Regia is considered a partial extraction technique, where gold encapsulated in refractory sulphides or some silicate minerals
may not be fully dissolved, resulting in partial reporting of gold content.
No other analysis techniques have been used to determine gold assays.
Ongoing QAQC monitoring program identified one particular CRM returning spurious results. Further analysis demonstrated that
the standard was compromised and was subsequently removed and destroyed. A replacement CRM of similar grade was
substituted into the QAQC program.
KIN continues to both develop and reinforce best practice QAQC methods for all drilling operations and the treatment and
analysis of samples. Regular laboratory site visits and audits have been introduced since April 2018 and will be conducted on a
quarterly basis. This measure will ensure that all aspects of KIN QAQC practices are adhered to and align with industry best
practice.
Verification of sampling and The verification of significant Verification of sampling, assay techniques, and results prior to 2004 is limited due to the legacy of the involvement of various
assaying intersections by either independent or companies, personnel, drilling equipment, sampling protocols and analytical techniques at different laboratories.
alternative company personnel. No adjustments, averaging or calibrations are made to any of the assay data recorded in the database. QA/QC protocol is
considered industry standard with standard reference material submitted on a routine basis.
The use of twinned holes.
No adjustment or calibration has been made to assay data.
Documentation of primary data, data
entry procedures, data verification, data
storage (physical and electronic)
protocols.
Discuss any adjustment to assay data.
Location of data points Accuracy and quality of surveys used to Several local grids were established and used by previous project owners. During the 1990s, SOG transformed the surface survey
locate drill holes (collar and down-hole data firstly to AMG and subsequently to MGA (GDA94 zone51).
surveys), trenches, mine workings and Recent KIN AC drill hole collars are located and recorded in the field by KIN personnel using a handheld GPS. Location data was
other locations used in Mineral Resource collected in the GDA94 Zone51 grid coordinate system.
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Criteria JORC Code explanation Commentary
estimation. No downhole surveying was conducted for AC drilling
The accuracy of drill hole collars and downhole data are located with sufficient accuracy for use in current exploration targeting
Specification of the grid system used.
activities
Quality and adequacy of topographic
control.
Data spacing and distribution Data spacing for reporting of Recent aircore drilling was conducted on 400m-spaced lines, with the drillholes spaced at half the depth of the previous drilling. This
Exploration Results. provided full coverage across the strike of the targets. This coverage was reduced in areas of shallower holes as a minimal hole
spacing of 15m was used.
Whether the data spacing and
distribution is sufficient to establish the
degree of geological and grade
continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Whether sample compositing has been
applied.
Orientation of data in relation to Whether the orientation of sampling Mineralisation at Iron King is interpreted to be controlled by E-W trending shear zones. For this reason all recent aircore drilling
geological structure achieves unbiased sampling of possible was drilled on North-South lines towards and azimuth of 180 degrees.
structures and the extent to which this is
known, considering the deposit type.
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.
Sample security The measures taken to ensure sample No sample security details are available for pre-KIN drill or field samples.
security. Since the beginning of 2020 KIN aircore samples from the Iron King project are collected by the field personnel and stored in bulka
bags. These are dispatched nightly to a secure yard in Leonora (GTN Services). The haulage company (usually Hannans transport)
then collects the bulkas bags the following day and dispatches them to the lab in Kalgoorlie.
Audits or reviews The results of any audits or reviews of No audits have been conducted for the Iron King project.
sampling techniques and data.
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| Mineral tenement and land tenure status |
Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. |
The Iron King Project, 45km NNW of Leonora is managed, explored and maintained by KIN, and constitute a portion of KIN’s Leonora Gold Project (LGP), which is located within the Shire of Leonora in the Mt Margaret Mineral Field of the North Eastern Goldfields. The project consists of a mining tenement (M37/1327, surrounded by a number of prospecting licenses (P37/8461, P37/8460, P37/8458, P37/8459, P37/8455). The following royalty payment may be applicable to areas within the Iron King project: 2% of Gross Revenue payable to the original vendors of the tenements to Kin Mining NL. There are no known native title interests, historical sites, wilderness areas, national park or environmental impediments over the outlined current areas, and there are no current impediments to obtaining a license to operate in the area. |
| Exploration done by other parties |
Acknowledgment and appraisal of exploration by other parties. | During the period 1981-1985 a small open cut gold mine at Iron King which was mined to 30m produced 253.85oz Au from 1,161t of ore grading 6.8g/t Au. In 1977 Asarco Exploration Pty Ltd conducted a major RAB drill programme on the area directly south of the Little Pete gossan (P37/7195) but the shallow drill holes failed to identify any significant anomalous base metals or gold mineralisation. Exploration by Dakota Gold Mines Pty Ltd during 1988-1990 and Dominion Gold Mines in 1993-1994 lead to the discovery of a number of promising gold prospects and drill targets. Drilling of several of these prospects was conducted however generally at very shallow depths. A small gold resource (58,700 tonnes) was identified by Dakota at the Crystal Ridge Prospect (P37/7197). Additionally several zones of gold mineralisation have been identified within the project area, they remain open at depth and along strike, and they require follow up drilling. |
| Geology | Deposit type, geological setting and style of mineralisation. | The Iron King group overlies a NW to WNW trending sequence of Archaean greenstones that form part of the Norseman-Wiluna Greenstone Belt of the Yilgarn Craton. The highly mineralised metamorphosed belt is comprised of deformed volcanic rocks, intrusive rocks and sediments. The belt hosts the majority of Australia’s largest gold and nickel sulphide deposits including Kalgoorlie, Kambalda, Agnew, Mt Keith and Sons of Gwalia. The project area is located on the eastern flank of the Tarmoola Anticline. The greenstone sequence in the project area comprises tholeiitic and high-magnesian basalts, felsic volcanics, interflow sediments including chert, shale and iron formation, mafic intrusives and ultramafic rocks. This layered succession is intruded by numerous stocks, dykes and sills of granitic rocks, commonly magnetic, felsic porphyry’s and also E-W trending Proterozoic mafic dykes. The structure of the Iron King group is extremely complex due to a combination of faulting, shearing and tight folding; coupled with granitic intrusions. Three major E-W to WNW shear zones have been identified in the area. These structures are known as the Victory,Crystal Ridge and Iron KingShears and theyare all |
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Criteria JORC Code explanation Commentary
associated with small historic gold workings. The local shear zones splay off the regional NNW trending
Gwalia Shear Zone and the Mt George Shear Zone. Gold mineralisation within the project area is controlled
by late stage quartz filled normal faults.
Drill hole Information A summary of all information material to the understanding of All material drilling information for exploration results is included in the body of this report.
the exploration results including a tabulation of the following
information for all Material drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level – elevation above sea level
in metres) of the drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not
detract from the understanding of the report, the Competent
Person should clearly explain why this is the case.
Data aggregation methods In reporting Exploration Results, weighting averaging When exploration results have been reported, the intercepts are reported as weighted average grades over
techniques, maximum and/or minimum grade truncations (eg intercept lengths defined by geology or lower cut-off grades, without high grade cuts applied. Where
cutting of high grades) and cut-off grades are usually Material aggregate intercepts incorporated short lengths of high grade results, these results were included in the
and should be stated. reports.
For the Iron King project, KIN has reported AC drilling intersections with low cut off grades of >= 045 g/t Au
Where aggregate intercepts incorporate short lengths of high and a maximum of 4m of internal dilution at a grade of <0.5g/t Au.
grade results and longer lengths of low grade results, the
There is no reporting of metal equivalent values.
procedure used for such aggregation should be stated and
some typical examples of such aggregations should be shown
in detail.
The assumptions used for any reporting of metal equivalent
values should be clearly stated.
Relationship between These relationships are particularly important in the reporting The orientation, true width, and geometry of mineralised zones have been primarily determined by
mineralisation widths and of Exploration Results. interpretation of historical drilling and continued investigation and verification of KIN drilling.
intercept lengths Drill intercepts are reported as downhole widths not true widths.
If the geometry of the mineralisation with respect to the drill
Accompanying dialogue to reported intersections normally describes the attitude of mineralisation.
hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are reported,
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| there should be a clear statement to this effect (eg ‘down hole length, true width not known’). |
||
| Diagrams | Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. |
Appropriate maps are included in the main body of this report. |
| Balanced reporting | Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. |
Public reporting of exploration results by KIN and past tenement holders and explorers are considered balanced. Representative widths typically included a combination of both low and high grade assay results. A 0.4g/t cut off is typically used at Iron King to report significant intercepts. All drillholes below this threshold are clearly reported as having ‘No significant intercepts’ (NSI). |
| Other substantive exploration data |
Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. |
An Auger sampling program in 2020 preceeded the aircore drilling program. Results from this sampling program have been fully reported in separate ASX rereleases |
| Further work | The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. |
KIN intend to continue exploration and drilling activities at in the described area. |
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