Late last year, the company tasked volcanogenic massive sulphide expert Dr Carl Brauhart to assess the geochemical data over the Cardinia area, with the exercise suggesting the Albus prospect was prospective for base metals.
The core that originally assayed 0.6m at 30.4 grams per tonne from 105m, over 2.5m at 3.14gpt from 270m associated with an IP anomaly between the Helens and Rangoon deposits was dug out and re-assayed.
The results showed the deeper zone delivered 5.7m at 5.3% zinc, 0.34% copper, 0.3% lead, 40gpt silver and 1gpt gold from 270m, including 0.7m at 10% zinc.
Spot XRF checks returned up to 21.9% zinc.
The sphalerite-dominated massive sulphides sitting at the basalt and felsic volcaniclastic contract was said to be in a typical VMS host setting.
Kin believes the data suggest it may have nipped the distal part of a VMS system in a part of the Leonora gold fields not known for copper or zinc.
The gold appears closely related to the VMS discovery, but work is required to determine if it is a gold-rich VMS play or if the gold was overprinted later.
It has mapped a prospective 3km-long horizon within a 40km-long belt that falls within Kin’s 100%-owned Eastern Corridor sub-project, where Albus was the first IP prospect tested.
Brauhart’s report said there was “little room for doubt” about the style of mineralisation.
The question is: is it the edge of something larger, or a small, massive-sulphide lens?
Kin has described Albus as a potential game-changer, particularly if it can sniff out another Golden Grove-style cluster of deposits within a new VMS greenstone belt.
“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,” Kin executive chair Rowan Johnston said.
Previously focused on developing the Cardina gold project, the company sold 610,000 ounces – about half its gold endowment – to the Raleigh Finlayson-led Genesis Minerals for A$15 million cash and some $39 million in stock.
Johnston said the cash injection would allow a more comprehensive search for both gold and base metals.
More IP could be used to locate additional Albus-style sulphide targets.
Two additional diamond holes and downhole surveys are planned at Albus this quarter.
An expanded logging program at Cardinia East is also planned.
Kin has $17 million in cash and some $69 million worth of Genesis scrip.
