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Kingston identifies up to 81,000-ounce stockpile at Misima gold project

Kingston Resources Ltd. said March 21 that a recent survey located a large stockpile of gold-mineralized material at its 70%-owned Misima gold project in Papua New Guinea that was left by the previous operator, Placer Pacific.

An exploration target for the near-surface stockpile, Cooktown Dump, was set at 3.6 million tonnes at 0.5 g/t to 0.7 g/t gold containing 58,000 to 81,000 ounces.

The company said the stockpile is not included in its current 2.8 million-ounce resource.

The tonnage and grade of the exploration target were estimated using data from the Misima mine closure plan Placer published in 2000.

Kingston plans to focus on discovering and defining near-surface satellite mineralization at prospects including Ginamwamwa, Quartz Mountain and Ara Creek.

The company increased its stake in the Misima project to 70% from 49% in September 2018.