Kings Minerals (KMN)

Shares / Stock Code

KMN

Stock Exchange / Sharemarket

Australian Securities Exchange

Kings Minerals (KMN) is an exploration company searching primarily for gold, silver and base metals, with tenements mainly in Australia and Mexico. Key projects are in central Mexico (gold, silver, base metals) as well as at Mt Isa and Charters Towers in Queensland. Exploration companies aim to discover and delineate occurrences of metals and minerals that can be economically mined and extracted. KMN listed on the Australian stockmarket (ASX) on 2 June 1988.

KMN has advanced exploration in Central Mexico for gold, silver and base metal. They also have gold copper exploration tenements in Mt Isa Inlier and gold exploration activities in the Ravenswood Region (Queensland).

KMN's major customers would include the retail, wholesale and international markets. Its competitors consist of other mining companies such as Jabiru Metals (JBL). The mining industry is a global industry, which is highly competitive.

MT ISA Project

The Mt Isa Project covers 1,345km2 owned predominantly 100% by the consolidated entity and earning up to 70% in the Pelican tenement (EPM 13870). Kalman is situated 34km south of the Mary Kathleen U-REE deposit (9.5Mt @ 0.13% U3O8) and 62km southeast of Mt Isa in the Mt Isa Mineral Province of northwest Queensland.

The prospect lies within the Mary Kathleen zone of the Eastern Succession of the Mt Isa Inlier and is hosted by calc-silicate rocks of the Corella Formation. There is general consensus that the Corella Formation is a carbonate-evaporite-pelite sequence regionally metamorphosed to amphibolite facies. Kalman is located in an area of complex structural architecture. Mineralisation is located adjacent to, and near the intersection of a set of sub-parallel northeast trending widely spaced fractures and two northerly trending shear zones immediately adjacent and sub-parallel to the regional-scale Pilgrim Fault.

Kalman represents an unusual style of intrusion-related hydrothermal copper-molybdenum-gold mineralisation hosted by calc-silicate rocks comprised dominantly of alkali feldspar, actinolite and chlorite. Chalcopyrite-molybdenite mineralisation is accompanied by a hydrothermal alteration assemblage of calcite-chlorite-quartz without development of intense or pervasive silicification and quartz veining.

Mineralisation generally occurs as fine grained disseminations and anastomosing discontinuous millimetre-wide veinlets. Pyrite averages <1% in zones of strongest copper-molybdenum-gold mineralisation. Rhenium is also present associated with the molybdenite. Copper grades are consistently elevated, although variable, over broad widths, and molybdenite grades are often highly elevated over narrower widths.

Drilling throughout the year is proceeding to define the gross geometry of the copper-molybdenum-gold mineralisation on a nominal 100 metres by 100 metres grid. This program has demonstrated copper-molybdenum-gold mineralisation extends along strike for 1,000 metres (Figure 2) and to a depth of 700 metres below surface. Mineralisation remains open along strike to the north and south, and at depth. The mineralised zone dips sub-vertical to steeply west, however there is evidence of a dip reversal at depth.

Kings Minerals (KMN) Products and Services

  • Exploration for gold and base metals and the development of gold and base metal projects

Kings Minerals (KMN) Locations and Subsidiaries

Kings Minerals Head Office
Suite 1, Level 1, 895 Ann Street,
FORTITUDE VALLEY, QLD, AUSTRALIA, 4006
Phone: (07) 3252 0122
Fax: (07) 3252 0166

Kings Minerals (KMN) Share Price

Submitted by ASX Listed Company on 10 May, 2010 - 21:46