Kin Mining NL hits high-grade VMS mineralisation at Cardinia East; base metals belt potential grows

Kin Mining NL (ASX:KIN) has discovered ‘significant’ VMS mineralisation at its Cardinia East Project near Leonora in Western Australia, opening up a prospective new base metals belt in the region.

Re-logging and laboratory assaying of previously drilled diamond hole IP22DD001, at the Albus Target (NYSE:TGT), has confirmed a VMS signature, with a significant base metal intersection of:

• 5.7 metres at 5.3% zinc, 0.34% copper, 0.3% lead, 40ppm silver and 1.00ppm gold from 270.3 metres; including 0.7 metres at 10% zinc and 77ppm silver from 270.3 metres

This zone of strong base metal mineralisation was intercepted within cherty sediments along a contact of basalt and felsic volcaniclastics, a typical host setting for VMS mineralisation.

The discovery positions Kin to be a first mover in what appears to be a new VMS greenstone belt, within a Tier-1 mining jurisdiction.

Moving forward, planning is underway to systematically explore the belt, applying the latest technology and understanding of VMS mineral systems.

Catalyst for “company makers”

Kin Mining executive chairman Rowan Johnston said: “This is an extremely exciting discovery by our exploration team and demonstrates the enormous untapped potential that our tenure offers.

“The discovery of high-grade VMS deposits has historically been the catalyst for a number of company-makers in Western Australia, as demonstrated by deposits such as Golden Grove, Teutonic Bore and DeGrussa.

“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.

“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.

“Understanding of this newly discovered base metal system will also further enhance our deep targeting for high-grade gold deposits and ongoing testing of key structural zones.

“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.”

Regional overview showing KIN tenure and surrounding projects with resources.

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Exploration summary

Kin Mining began re-assessing the potential for base metal mineralisation within the Minerie Domain late in 2023.

VMS expert Dr Carl Brauhart was engaged to analyse geochemistry around the Cardinia area, focusing on the under-explored Welcome Well Domain.

Detailed mapping and re-logging of core identified fertile areas and further prospective horizons were identified within stratigraphy that dips approximately 60 degrees to the west.

Geology and location of Kin tenure and strike extent of interpreted favourable horizon

Forward plan

Practical application of the VMS Mineral Systems Model will be key to the most effective use of a drilling budget that leads to significant discovery sooner rather than later.

Albus is a drill-ready target and at least two follow-up diamond holes with down-hole EM will be completed in Q1 2024, with results expected by the end of the quarter.

In conjunction with the drilling, this favourable horizon and other chert zones identified in our existing drill database will be the target of a re-logging exercise.

Favourable horizons will be mapped and sampled across the entire tenement package.

Targets generated from this work will be drill tested as soon as practical later in the year.

Highly prospective targets also exist undercover. Kin Mining will focus on initial air-core (AC) drilling traverses across these extensions to systematically generate and test VMS targets in what promises to be a highly prospective district.

Electrical geophysics, particularly Induced Polarisation (IP) and electromagnetics (EM) has proved highly effective in many, but not all, VMS districts.

Kin Mining will undertake down-hole geophysics in deep holes that penetrate fresh rock.

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