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Kin Mining ups gold resource estimate at Helens deposit

Kin Mining NL said Sept. 10 that it completed the Helens mineral resource estimate after receiving final assay results from the first phase of a drilling program completed in late July.

The company increased its indicated and inferred resource estimate to 1.03 million tonnes at 2.14 g/t of gold for 70,900 ounces contained using a 0.5 g/t gold cutoff grade.

The July drill program revealed further deep mineralization including 3.9 meters at 10.1 g/t from a depth of 170.9 meters.

Helens is part of the Cardinia plant at Kin's Leonora gold project in Western Australia. The deposit is 2 kilometers from the Cardinia processing facility, where the resource supported a larger open pit development. Leonora has been on care and maintenance since June. Construction at Cardinia has been suspended since May pending additional testing, engineering design scheduling and cost estimates.

A 2017 estimate at Helens outlined about 800,000 tonnes in indicated and inferred resources grading 1.44 g/t for 37,000 ounces contained. The increase reflects the inclusion of the depth extension at Helens due to the success of recent drilling. Metallurgical test work, pit optimization and design at the deposit are underway.

A second phase of drilling at Helens is scheduled for the December quarter.