Kingston Resources funded for mine restart with strong cashflow
Melbourne, Victoria
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October 12, 2023 11:30 AM Eastern Daylight Time
Kingston Resources Ltd (ASX:KSN) MD Andrew Corbett speaks with Proactive soon after reporting high grade polymetallic assay results from surface diamond drilling into the underground mineral resource at the Southern Ore Zone (SOZ) of its Mineral Hill mine in NSW. The geotechnical analysis is yet to be finalised, but numerous significant intersections were returned. The wide, high-grade portions of SOZ are highly significant as they indicate a strong potential for favourable margins for the business once underground production begins.
Corbett said: “These results are very encouraging, not only due to the strength of the copper equivalent grades, but also because they validate the existing geological model.
“Our underground production target, released at the end of June 2023, was based on the SOZ Mineral Resource, so these intersections provide added confidence to our life of mine forecasts.
“We are focusing on the right technical areas to minimise risk and maximise opportunities that will come our way when we are in production. The geotechnical data from these holes will allow us to optimise our underground stope parameters so we can ramp up productivity and get the best value out of the asset.”
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
