ASX-listed miner Kingston Resources Limited had signed a drilling contractor for a major exploration programme at the historic Misima gold site on Misima Island.
The priority focus of the initial programme is a series of highly prospective gold targets within the Umuna East target area, with the intention of extending the existing 2.8Moz JORC Resource.
Diamond drilling is scheduled to commence in April and run until late December. Mobilisation of the drilling rig, consumables and equipment via barge from Lae, Papua New Guinea will commence in March. Preparations for earthworks for drilling platforms are already underway.
The un-named successful drilling contractor has a 25-year track record of safe and productive exploration drilling within PNG and the Asia-Pacific region.
Kingston has also commissioned a study of the structural controls on mineralisation at Misima with an independent consulting geologist. This study, which commenced in early February, is scheduled for completion in March. The results of the study are expected to give Kingston geologists an improved understanding of the structural architecture controlling mineralisation on the project, and in particular the targets where structural and lithological controls are likely to have produced high-grade mineralisation.
Kingston managing director Andrew Corbett said an airborne LiDAR survey of the project is expected to be completed in the coming quarter. This will provide the first high-resolution terrain model of the whole project, giving additional information to be merged with mapping data and also allowing Kingston to design future drilling locations with increased confidence.
Mr Corbett said LiDAR has the advantage of being able to penetrate through rainforest foliage, resulting in a high-resolution 3D scan of the earth’s surface.
“Given the short time frame from completing the merger with WCB to awarding the drill tender, I’m extremely proud of the Kingston team’s efforts to advance the world class Misima Gold Project. The exploration potential that has been identified outside of the current 2.8Moz resource provides the company with an immediate opportunity to add further ounces to the already substantial resource,” Mr Corbett said.
“The initial drill targets have been generated by reviewing historical Placer data in the light of recent field work carried out by Kingston Resources. These targets are currently being cross-referenced with the independent structural review which is due to be completed in March. The historic Placer work provides walk up drill targets left untested when Placer ceased operations during a sub US$300/oz gold price environment.
“Kingston’s proposed drilling programme is the first gold drilling program carried out on Misima for nearly 20 years which is exciting considering the historical operation produced over 3.7Moz of gold at U$218/oz and left behind a substantial resource.
“The company currently has a 49% interest in the Misima Gold Project which will increase to a 70% interest following further expenditure of A$1.8m, budgeted in the next six months.”