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NEWS www.ddh1.com.au

Kingston to

hoist producer’s

crown

The Mineral Hill plant was recently
upgraded to 400,000 tpa following
the addition of a new CIL circuit to
reprocess tailings

by Fraser Palamara

ingston Resources Ltd expects to be imminently generating Kingston expects to process 1.7-1.8mt @ 1.1 g/t gold, recovering
Kcash from its recent purchase, the Mineral Hill gold-copper 40,000oz, over the next 29 months.
mine in New South Wales. Mineral Hill has changed ownership numerous times throughout
The company entered a binding agreement to buy Mineral Hill its history, including being put on care-and-maintenance in 2016
from American outfit Quintana MH Holding Co LLC for $22.7 after then owner – Kimberly Metals – plunged into debt and
million cash and shares in mid-November. The acquisition was endured a pit wall failure and “weather event” at the mine.
subject to a shareholder vote at the time of print. The new addition to Kingston’s portfolio joins the flagship
Kingston planned to fund the transaction with a $14 million Misima gold project in Papua New Guinea. Kingston managing
institutional placement and a $4 million share purchase plan. director Andrew Corbett said the acquisition of Mineral Hill
Quintana retains a 2% royalty over future production at the mine. wasn’t a change in priority but would help facilitate development
Mineral Hill boasts a resource of 5.9mt @ 1.20 g/t gold, 23 g/t of the 3.8 moz Misima asset.
silver, 0.7% copper, 1.0% lead and 0.6% zinc for 229,000oz “We’re doing this so that we can actually fund Misima in the most
gold, 4.46 moz silver, 43,000t copper, 60,000t lead and 35,000t effective method for shareholders,” Corbett told GMJ. “We want
zinc. It also contains a reserve of 2.1mt @ 1.4 g/t gold and 5 g/t the least amount of shares on issue when Misima and Mineral
silver for 71,000oz gold and 346,000oz silver. Hill are both producing.
The plant was recently upgraded to 400,000 tpa with the “Why Mineral Hill? Because we see a lot of upside and potential
addition of a new CIL circuit to reprocess tailings at an AISC of in terms of the resource base. The immediate cash flow is
$1,150-1,650/oz. obviously a big positive for a junior exploration company. It will

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