Stocks of the Hour: Kingston Resources, Latin Resources, Cobre
Kingston Resources (ASX: KSN) reported today that assay results from the first round of diamond drilling at the SOZ underground have delivered outstanding high grade base metal and gold results. Drilling transitioned to SOZ following completion of the drill program at Pearse North. The eight-hole program at SOZ has been designed to test and extend the spatial location and tenor of mineralisation, and the geological interpretation within the upper portions of SOZ . Shares are trading 6.9 per cent higher at 9 cents.
Latin Resources (ASX: LRS) today provided the following update on resource definition drilling and other studies currently ongoing at the Company’s 100% owned high-grade Colina Prospect. The exploration team has reported a new lithium spodumene discovery with the recently completed hole approximately 500 metres west of the Colina Prospect. The drilling has discovered an intersection of a new swarm of spodumene bearing pegmatites including one of 18.75m in thickness. This discovery at Colina West has significant scale implications for the Salinas Lithium Project, if drilling confirms the presence of additional parallel mineralised pegmatite systems in close vicinity to the main Colina Prospect. Shares are trading 15.2 per cent higher at 13 cents.
Junior miner Cobre (ASX: CBE) today announced the fourth 1km step out hole of the ongoing diamond drill programme at the Ngami Copper Project in the Kalahari Copper Belt , Botswana, has returned another significant copper intersection. Cobre Executive Chairman and Managing Director, Martin Holland, said: “We’re delighted with the results from the latest drill hole at NCP, which have significantly extended the known footprint of mineralisation over more than 4km. Importantly, all the results so far indicate that the target remains open-ended to the northeast and is larger than previously anticipated. Shares are trading 36.7 per cent higher at 21 cents.
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Source: Finance News Network
