Kingston Resources Limited (ASX:KSN)
The verdict is in. Emerging ASX gold and lithium junior, Kingston Resources (ASX:KSN), has unveiled its maiden JORC Resource for the Misima Gold Project in Papua New Guinea (PNG).
As KSN revealed this week, this flagship Misima Project hosts a JORC Resource of 2.8 million ounces. That‘s a 22% increase in contained gold relative to the recent NI 43-101 Resource (a classification system that’s effectively the Canadian equivalent of JORC).
The project’s appeal is more than validated with this latest piece of news. Combining its production history of four million ounces with this new JORC Resource of 2.8 million ounces, Misima now has a total known gold endowment that exceeds six million ounces.
This Resource sets a new benchmark for exploration moving forward, tightening this ASX junior’s reins as it looks to hone in on a string of advanced exploration targets in the coming year.
The newly obtained gold Resource is also showing strong potential for expansion. KSN will also begin targeted exploration work shortly at a number of large-scale, advanced exploration targets… Clearly, this fledging ASX gold explorer isn’t wasting any time.
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KSN’s market is currently capped at only $19.85 million. But this is just the beginning, meaning KSN could be a salient entry point into the small-cap gold exploration corridor. And with gold now faring far more favourably, the fast-moving KSN could well be in exactly the right place, at a very good time.
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Kingston Resources (ASX:KSN) has interests in two gold projects, its flagship Misima Gold Project in PNG, plus the Livingston Gold Project in WA. Coming in at number 22, with a 2.8Moz Resource, it’s fair to say the company appears undervalued, with the next on the list capped at close to $500 million.
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