The maiden Inferred Mineral Resource estimate for Kings Minerals’ Kalman copper-molybdenum-rhenium-gold project in north-west Queensland shows 49.7 million tonnes grading 0.35% copper, 0.06% molybdenum and 0.16 grams/tonne gold.

The estimate included a high grade molybdenum domain of 21.7 million tonnes grading 0.29% copper, 0.12% molybdenum and 0.13grams/tonne gold.

The initial resource estimate only reflects mineralization modelled down to about 500m below surface, however, mineralization has been intersected up to 700m below surface and the deposit remains open at depth.

The southern part of the deposit as defined by Kings and part of a joint venture with Syndicated Metals has 29.4 million tonnes at 0.33% copper, 0.06% molybdenum and 0.15grams/tonne gold, including a high grade molybdenum domain of 13.5 million tonnes grading 0.25% copper, 0.12% molybdenum and 0.12 grams/tonne gold.

Continuity of the molybdenum mineralization intersected at Kalman had been confirmed by initial 50 metre infill drilling. Significant high grade intersections from these holes included 43 metres @ 0.27% from 200 metres, 53 metres @ 0.61% from 255 metres, 16 metres @ 0.31% from 191 metres in K-59; and 24 metres @ 0.24% from 239 metres.

Kings is continuing exploration in the area. Reconnaissance exploration to the south has identified two new zones of mineralization. Previous drilling in this area returned 6 metres @ 1.9% copper and 0.65 grams/tonne gold, 8 metres @ 1.8% copper and 0.5 grams/tonne gold, 12 metres @ 0.7% copper and 0.3% lead, and 8 metres @ 0.7% copper and 0.2% zinc.

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