Livingstone Project

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Livingstone Project (Gold) – 75% MBK 

  • advanced gold exploration project located 140km northwest of Meekatharra in WA
  • 395 km² of granted exploration licences covering the entire western arm of the Proterozoic Bryah-Padbury Basin (host to the Fortnum, Horseshoe and Peak Hill gold deposits and >2Moz Au endowment)
  • a JORC 2004 Inferred Resource* of 49,900oz Au at the Homestead prospect with potential for expansion;
  • the Kingsley prospect, with an Inferred Mineral Resource** of 30,500oz Au @ 1.42g/t (JORC 2012) open at depth and along strike in both directions, supporting an additional Exploration Target** of 290 – 400Kt grading 1.8 – 2.0 g/t Au for a total of 16,800 –25,700oz Au;
  • the Livingstone prospect with extensive Au-in soil anomaly, historical mining activities and historical high-grade drilling intersections;
  • multiple advanced gold targets, inadequately tested to date including Hilltop, Stanley, Winja, Winja West, VHF and Kirba (Ni); and
  • over 10 regional greenfields targets identified by independent experts with 40km prospective strike length

A Project-wide review completed by Kingston in 2021, including regional analysis and high-grade rock chips of up to 11.4g/t Au, confirmed multiple new targets within a new mineral systems model (refer KSN ASX Release dated 2 Dec 2021).

 

Kingsley gold deposit and Exploration Target

The Kingsley gold deposit was discovered by Kingston in 2018 after completing aircore drilling over part of the deposit. A further 50-hole (4,390m) RC drilling program in 2020 defined zones of high-grade Au within broader zones of shallow mineralisation, showing continuity over 1km strike length (Figure 1), and correlation with the geological model (refer KSN ASX Release of 30 Sept 2020).

Figure 1: Kingsley deposit showing previous drilling with key intercepts

 

Gold mineralisation is related to a set of late quartz-carbonate-sericite-pyrite veinlets that have developed in reactivated older steeply dipping deformed quartz veins that strike ~110°, within a mafic to ultramafic schist or ‘talcose’ schist.

Kingsley includes a maiden JORC 2012-compliant Mineral Resource** of 669Kt at 1.42g/t Au for 30,500oz Au (0.5g/t Au cut-off) based on drilling completed to date by KSN, continuity of mineralisation demonstrated on multiple structures over 1km of strike to a maximum depth below surface of approximately 75m and positive metallurgical testwork in conjunction with updates economic parameters.  In addition, previous drilling and the Mineral Resource Estimate work provide the basis for a MBK Exploration Target** of an additional 290 – 400Kt at 1.8 – 2.0 g/t Au for 16,800 – 25,700oz Au.

The Kingsley mineralisation is shallow in nature (Figure 2) and open to the east, west and south. Over the next 12 months, aircore drilling is planned to test continuity of mineralisation along strike. Additional RC and Diamond drilling is also planned to test below high-grade aircore results (including >100g/t Au intersections) and support improved structural, geotechnical and metallurgical understanding of the deposit.

 

Figure 2: Cross section at western end of Kingsley deposit (566200E)

 

Livingstone North Prospect

The Livingstone North prospect located 600m north-east of the Kingsley deposit, is a 2 km² target area with a significant extensive Au-in-soil anomaly (Figures 3 & 4).

The prospect includes historical mining activities, limited drilling in the 1980’s with high-grade drilling intercepts which have never been followed up. There has been no drill testing at the Livingstone North prospect below 25m depth.

The Livingstone North prospect presents MBK with a substantial walk-up drill target. MBK has developed a comprehensive drilling program planned aimed at defining the full extent of mineralisation both laterally and at depth.

 

Figure 3: Livingstone North prospect 600m NE of Kingsley deposit

Figure 4: Livingstone North prospect Au-in-soil anomaly

 

Additional Livingstone prospects and targets

In addition to the Kingsley and Livingstone North prospects, the Livingstone Project includes multiple gold targets extending along 40km of strike (Figure 5).

 

Figure 5: Multiple gold targets within the Livingstone Project area

 

*refer to MBK ASX Release dated 26 October 2021 “Livingstone Acquisition and Entitlement Offer” for further details

**refer to MBK ASX Release dated 18 January 2022 “Kingsley Deposit Maiden Resource Estimate” for further details

 

Further information is available by clicking the following MBK ASX releases:

10/12/2021 – MBK Completes Acquisition of the Livingstone Project

26/10/2021 – Livingstone Acquisition and Entitlement Offer

18/01/2022 – Kingsley Deposit Maiden Resource Estimate

 


 

Competent Persons Statement

The information on this web page that relates to Mineral Resource Estimation of the Kingsley Deposit is based on information compiled by Mr. Michael Job, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy and a full time employee of Cube Consulting Pty Ltd. Mr. Job has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Job consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. The information on this web page that relates to Mineral Resources of the Kingsley Deposit is based on information compiled by Mr. Mike Atkinson, a Competent Person who is The Australasian Institute of Geoscientists and a full time employee of Integrated Geological and Mining Solutions Pty Ltd. Mr. Atkinson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Atkinson  The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant ASX announcements. In the case of Mineral Resource estimates and Ore Reserve estimates, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original ASX announcements.

The information on this web page that relates to other exploration results and Mineral Resources and Ore Reserves for the Livingstone Project was prepared and reported in accordance with the ASX Announcements, Talisman Mining and Kingston Resources News Releases referenced on this web page. The information on this web page that relates to Mineral Resources of the Livingstone Project (Homestead) is based on information compiled by Mr Steven Elliot, a Competent Person who was a Member of the Australasian Institute of Mining and Metallurgy and a full time employee of Talisman Mining Ltd at time of work. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant ASX announcements and News Releases. In the case of Mineral Resource estimates and Ore Reserve estimates, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original ASX announcements or News Releases.

The information on this web page that relates to MBK Exploration Results, Mineral Resources and Exploration Target statements is based on information compiled or reviewed by Mr Rhys Davies. The Company is not aware of any new information or data that materially affects the information included in referenced ASX Releases and in the case of reported Mineral Resources, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mr Davies is a Member of The Australasian Institute of Geoscientists and is a contractor to the Company. Mr Davies has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Davies consents to the inclusion on this web page of the matters based on his information in the form and context in which it appears.

It should be noted that the MBK Exploration Targets described on this web page are conceptual in nature and there is insufficient information to establish whether further exploration will result in the determination of Mineral Resources. As a Cautionary Statement, an Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade, relates to mineralization where there has been insufficient exploration to estimate a Mineral Resource. The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration to estimate an additional Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Targets take no account of geological complexity that may be encountered, possible mining method or metallurgical recovery factors. It is acknowledged that the currently available data is insufficient spatially in terms of the density of drill holes, and in quality, in terms of MBK’s final audit procedures for down hole data, data acquisition and processing, for the results of this analysis to be classified as Mineral Resources in accordance with the JORC Code.

 

 

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