- Kingsrose Mining (KRM) is about to begin a drilling program at the Way Linggo project in Indonesia
- Drilling will aim to explore the Maul Vein which is a vein system discovered earlier this year and is located 500 metres west of the Talang Santo open pit
- Initial trenching results have consistently returned elevated gold grades over 300 metres of strike, which remains open
- Shares in Kingsrose Mining were down 3.23 per cent today, closing at 6 cents each
Kingsrose Mining (KRM) is about to begin a drilling program at the Way Linggo project in Indonesia.
This drilling is aimed at exploring the Maul Vein, a newly discovered epithermal quartz vein system located 500 metres west of the Talang Santo open pit.
The Maul Vein was discovered in a stream bed during regional reconnaissance work in the second quarter of this year. Subsequent excavator trenching exposed the vein over a strike length of 300 metres and the vein is open along strike to the southeast.
The vein is made up of chalcedonic, colloform and cockade quartz-adularia and vein breccia and is between two and eight metres thick.
A review of gold and silver assay data from the Way Linggo and Talang Santo deposits
indicates there are intervals of precious metals at depths between 900 and 1250 metres, where gold and silver concentrations are highest.
The Maul Vein is exposed at a 1270-metre elevation and demonstrated high grade gold in a narrow interval within one hole. According to the company, this indicates the Maul Vein at surface represents the upper parts of a potentially larger and higher-grade zone of mineralisation down dip of the surface vein exposure.
“The Maul Vein discovery follows several months of boots on the ground exploration and data review that has identified a number of exploration target areas,” Managing Director Fabian Baker said.
“Initial trenching results have consistently returned elevated gold grades over 300 metres of strike length that remains open where further trenching is ongoing, and we hope to discover higher grade gold and silver in drilling at depth.
“Exploration throughout the Way Linggo Contract of Work continues, and we will look to complete additional drill programs on other targets where warranted by results,” Mr Baker added.
Shares in Kingsrose Mining were down 3.23 per cent today, closing at 6 cents each.