Kenadyr Mining (KEN.V) is continuing its diamond drill program at its Borubai license, located right next to the producing TBL mine operated by the Chinese Zijin Mining Group. The company has now released the assay results of a second drill hole, and with 50 meters containing 8.15 g/t gold, nobody will be disappointed.
But when you take a step back and look at the bigger picture, you can clearly see the second hole (EZ) was drilled in excess of a kilometer away from the South Zone (SZ), with Zijin’s deposit lying right in between both drill holes and has the same geological characteristics. This east zone remains open on both directions along strike and at depth, and what’s perhaps even more important is the fact Kenadyr thinks the 50 meter intercept also represents the true width of the mineralization.
The first two holes were drilled at strategic locations, on strike of the known orebody at the TBL Mine. This undoubtedly was Kenadyr’s strategy, as it’s a very nice and shiny carrot the company is now dangling in front of Zijin Mining.
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The author has a long position in Kenadyr Mining. Please read the disclaimer
