Key Points:
• Total Mineral Hill Mine Mineral Resource
-- 5.9Mt @ 1.20g/t Au, 23g/t Ag, 0.7% Cu, 1.0% Pb & 0.6% Zn1,2
---- 229Koz Au, 4,461Koz Ag, 43Kt Cu, 60Kt Pb, 35Kt Zn
• Total Mineral Hill Mine Ore Reserve
-- 2.1Mt @ 1.40g/t Au, 5g/t Ag 1,2
---- 71Koz Au and 346Koz Ag
Kingston Resources Limited (ASX: KSN) (Kingston or the Company) is pleased to report a Mineral Resource and Ore Reserve statement for the Mineral Hill Mine, Condobolin NSW. These estimates have been prepared by the previous owners of Mineral Hill, Quintana Minerals Corporation and KBL Limited. All the Resource and Reserve estimates have been previously released to the public except for the Mineral Resource and Ore Reserve Estimate for the Mineral Hill Tailings Reprocessing Project. This announcement contains the initial release for the Mineral Hill Tailings Reprocessing Project.
Kingston’s acquisition of the Mineral Hill Mine is subject to the satisfaction of the conditions of the Transaction and is expected to complete by mid to late January 2022. Kingston expects to release an updated Resource and Reserves estimate as part of its annual Group Mineral Resource and Ore Reserve Statement. Application of Kingston’s internal estimation methodology to the deposits at Mineral Hill may result in changes to the Mineral Resource. Application of Kingston’s estimation methodology to the deposits at Mineral Hill may potentially result in a downgrade in the classification of the Mineral Resource and/or Reserve compared to existing estimates.
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