Curated News
By: NewsRamp Editorial Staff
April 09, 2024
Kingston Resources Delivers High-Grade Results, Secures $8.8 Million as Part of $13.5 Million Raise
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- Investors can gain advantage from high-grade assay results and successful capital raise, positioning Kingston Resources for strategic growth.
- Drilling at Mineral Hill's underground mine intercepted high individual grades of gold, silver, copper, lead, and zinc, supporting early production and extension plans.
- Kingston Resources' capital injection will facilitate the development of the Misima Gold Project in Papua New Guinea, contributing to economic development in the region.
- High-grade assay results from recent drilling at Mineral Hill's underground mine demonstrate the potential for valuable mineral resources in the area.
Impact - Why it Matters
The high-grade results and capital raise secured by Kingston Resources demonstrate the company's commitment to advancing its strategic initiatives, particularly in the development of the Misima Gold Project and Mineral Hill mine. This news signifies progress in the gold and base metals sector, which could have a positive impact on the industry and potentially contribute to economic development.
Summary
Kingston Resources Ltd CEO Andrew Corbett discusses updated assay information from recent resource definition drilling at Mineral Hill’s underground mine, intercepting individual grades as high as 25.03 g/t gold, 295 g/t silver, 6.45% copper, 29.7% lead and 34.71% zinc. This move saw about 135.7 million new shares issued at $0.065 each, setting the stage for the next phase of funding. The capital injection is earmarked for advancing Kingston’s strategic initiatives, notably the development of the Misima Gold Project in Papua New Guinea and continued operations at the Mineral Hill mine in New South Wales. These projects are integral to Kingston's ambition to become a mid-tier entity in the gold and base metals sector.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Kingston Resources Delivers High-Grade Results, Secures $8.8 Million as Part of $13.5 Million Raise
