Kin identifies possible early start at Leonora
PERTH (miningweekly.com) – ASX-listed developer Kin Mining on Friday announced the potential of a near-term production opportunity at its recently acquired Leonora gold project, in Western Australia.
The company told shareholders that following the interrogation of the Leonora database, the company has identified potential start-up pits know as Lewis East and Lewis West, located within the existing Cardinia resource.
The company said that the potential pits represented an avenue to early production, subject to environmental and mining approvals.
A trial mining design was now being advanced, and Kin noted that a substantial part of the work and planning had already been completed by the previous owners of the Leonora project.
MD Trevor Dixon noted that the Lewis starter pit was an example of the outstanding upside potential within the Leonora project, which could allow Kin to fast-track its transition from a junior explorer to producer.
“We are planning to target the most profitable deposits with small mining operations involving modest development in order to generate rapid cash flow. The Lewis trial mining area represents an outstanding opportunity which has undergone extensive mine planning, proving a clearly defined pathway to production.”
Kin reached an agreement with the administrators of Navigator Resources to purchase the Leonora project in April this year, settling the acquisition on Monday with the payment of A$1-million in cash, and the issue of one-million Kin shares to secured creditor Waterton Global Value.
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