Kin Mining has discovered “significant” volcanogenic massive sulphide (VMS) mineralisation at its Cardinia gold project in the north-eastern Goldfields region of Western Australia.
VMS deposits are known to be rich in metals such as copper and zinc. Kin Mining’s new discovery was found in a greenstone belt with no known VMS deposits or prospects, between the Helens and Rangoon gold deposits.
Re-logging and assaying of a previously drilled hole at the Albus prospect confirmed a zone intersection of sphalerite-dominated massive sulphides, with subordinate chalcopyrite, pyrite and galena. The zone was also intercepted within cherty sediments along a contact of basalt and felsic volcaniclastics.
The discovery was made as part of a strategic review of the broader potential of the Cardinia project for new discoveries and other mineralisation, which began in late 2023.
“This is an extremely exciting discovery by our exploration team and demonstrates the enormous untapped potential that our tenure offers,” Kin Mining executive chair Rowan Johnston said.
“Although just an early indication from re-logging and laboratory assaying of a gold-focused hole drilled back in 2022, this discovery is very encouraging, as VMS deposits are usually found in clusters, and it appears that we have intersected the edge of something very interesting and potentially game-changing for the company.”
Kin Mining is currently planning to further explore the belt by applying the latest technology and understanding of VMS mineral systems.
“Our recent transaction with Genesis has put us in an excellent financial position to fully test this discovery without needing to raise further funds, as well as being able to undertake further exploration and resource definition for gold, utilising all the resources both internally and externally available to us,” Johnston said.
“We look forward to the commencement of the diamond drill program at the end of the month to further evaluate this discovery while also generating further targets for testing in 2024, which will include both gold and VMS targets.”
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