Overview

Kin Mining NL, a West Australian based gold development and exploration company, are actively exploring the well-endowed and highly productive Leonora District in the North Eastern Goldfields of Western Australia. The Company holds 100% interests in nine Project areas within the Mt Margaret and North Coolgardie Mineral Fields. The principal exploration commodity is gold however, base metals are also of interest.

The combined tenement holding in the Leonora District covers an area of 657 sqkm and includes 209 granted tenements. The flagship Project, the Cardinia Gold Project, covers 285 sqkm of unencumbered tenements which comprises 139 tenements and hosts gold Mineral Resources of 28.2Mt @ 1.27 g/t Au for 1,154,000oz defined in both near surface oxide and deeper primary mineralisation (JORC 2012) as reported 22nd December 2020.

Mineral Resource estimates consist of three main Mining Centres.

  • Mertondale – 11.1Mt @ 1.24 g/t Au for 445,000 ozs
  • Cardinia – 14.5Mt @ 1.15 g/t Au for 534,000 ozs
  • Raeside – 2.6Mt @ 2.07 g/t Au for 175,000 ozs

The Minerie Formation overlies the Cardinia gold deposits. The belt is regarded as underexplored with the majority of drilling to date focused on areas of outcrop, old workings and delineating shallow oxide targets. Very little exploration has been targetted below depths of 100m with up to 60% of the holding masked by a poorly tested veneer of recently transported alluvium, colluvial sands and soils that mask the underlying Archean lithologies.

The Cardinia/Mertondale Project areas are viewed as having outstanding discovery potential with large alteration systems, multiple deposits, substantial zones of high-grade mineralisation, in excess of 45km of continuous strike and numerous target zones outside the existing Mineral Resources.

Pre-feasibility studies confirm a +8 year mine life at +50,000oz per year (1.5Mtpa) and a viable pathway to development with considerable upside. Exploration activities remain on going and several new areas of gold mineralisation have been discovered recently in close proximity to the proposed processing plant but outside the existing resources (February 2020)

  • Comedy King where rock chip sampling returned 895g/t and 227g/t Au. Follow up drilling included shallow intersections of 8m at 21.9 g/t Au (8-16m)
  • Lewis East which returned 53m at 1.24 g/t Au (4-57m) and 4m at 11.6 g/t Au (8-12m)
  • Cardinia Hill which intersected 9m at 3.05g/t Au (46-55m).

Potential to expand and extend the existing gold Mineral Resources via new discoveries both along strike outside from recent discoveries and at depth beneath the existing mineralisation is regarded as excellent. Exploration activities remain ongoing.

Kin Mining NL presents as a company with considerable exposure to gold upside. Project parameters such as plant facilities, mining approvals and project design are well advanced as reported 30th August 2019.

Resources

Table A1. Mineral Resource Estimate Table December 20201

Table A1: Mineral Resource Estimate Table December 2020.  Mineral Resources estimated by Jamie Logan, and reported in accordance with JORC 2012 using a 0.4g/t Au cut-off within AUD2,600 optimisation shells. Note * Hobby was not re-optimised as part of this MRE and is still reported at the lower gold price and higher cut-off grade. Note ** Cardinia Hill Mineral Resource Estimate completed by Cube Consulting.

1The company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Announcement of 22 December 2020 “Cardinia Gold Project Mineral Resource Increased to 1.15Moz”, and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.