Kingking's central project property is the tenement area defined by the Amended Mineral Production Sharing Agreement (MPSA) No. 009-92-XI, between the Philippine government and Kingking Mining Corporation (KMC).
The Mines and Geosciences Bureau (MGB) Region XI issued a Certification dated March 22, 2021 stating that Kingking Mining Corporation (KMC) is a holder of a Mineral Production Sharing Agreement No. 009-92-XI (Amended II) and that KMC is generally compliant with the terms and conditions of MPSA.
Project Ownership through Kingking Mining Corp (KMC):
• St. Augustine Gold & Copper Ltd. (SAGC, TSX: SAU): 40%.
• Nationwide Development Corp. (NADECOR): 40%.
• Villar Group (Philippines): 20%.
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Summary:
The Kingking porphyry copper-gold deposit is located on the western flank of the eastern Mindanao Cordillera. It is the southernmost of a group of porphyry copper and gold deposits that are situated within a 75-km long, NNW-trending mineralized belt that runs across southeastern Mindanao.
The Kingking deposit is the largest of several prospects associated with a NE-trending belt of mineralized and postmineralization intrusive rocks that measures approximately 6 km long by 3 km wide.
In general terms, the Kingking gold-copper deposit is consistent in type and form with other bulk-tonnage copper-gold porphyry deposits of the Philippines and elsewhere in the world. These consistencies are summarized as follows:
• The Kingking gold-copper deposit is associated with and hosted by stock-size intrusive rock bodies ranging in composition from diorites to dacites;
• The four classic alteration assemblages typically found in porphyry deposit are present in the Kingking deposit. These assemblages are situated in a typical zonal distribution pattern of shells that extend outwards from a central core potassic zone (subdivided into K-feldspar and biotite subzones) into a phyllic zone consisting of QSC alteration, an argillic zone comprised of SCC alteration, and an outermost propylitic zone, which is subdivided into epidote and chlorite sub-zones;
• The deposit contains a typical suite of porphyry-style copper minerals consisting predominantly of chalcopyrite and lesser bornite in the lower sulfide (hypogene) zone, chalcocite, cuprite, and covellite in a weaklydeveloped transition zone, and malachite and chrysocolla in the uppermost oxide zone. Gold occurs in all zones as free gold (predominantly in the oxide and transition zones) and to a lesser extent associated with sulfides in hypogene zone.
The Kingking deposit is hosted mainly by the diorite intrusive complex (to which it is genetically related) and to a lesser extent by the extrusive volcanics and sediments. The overall shape of the diorite complex is elongate, trending northwesterly and measuring on average approximately 1,800 m in length and 400 m across. The diorite complex consists of the pre-mineralization biotite diorite porphyry (BDP), the intra-mineral diorite porphyry (IMDP), the intramineral hornblende diorite porphyry (IHDP), and two post-mineralization porphyries composed of hornblende diorite (HDP), and diorite (DP). Less-common dacite intrusives associated with the diorite complex include the intra-mineral dacite porphyry (IDAP), which consists of dikes cutting the BDP rocks, and the post-mineralization dacite porphyry (DAP). Local hydrothermal brecciation during the intrusion of the diorites into the older volcanics resulted in the development of intrusion/hydrothermal breccias along contacts.
The BDP (which appears to be the major intrusive underlying the Kingking district) is generally brownish, medium- to coarse-grained and is characterized by the presence of primary “book” biotite that accounts for approximately 10% of the rock’s volume. BDP intrusive rocks are the most important intrusive hosts for copper-gold mineralization. Copper mineralization within the BDP consists predominantly of bornite with subordinate chalcopyrite occurring usually as fracture fillings. Bornite appears to increase towards the western half of the deposit from Casagumayan to the Tiogdan area. The copper and gold grades in the BDP average 0.37% Cu and 1.17 g/t Au, respectively. Copper-gold contents vary in the other intra-mineralization intrusives. In the IHDP, metal values average 0.37% Cu and 0.44 g/t Au, respectively. Where bornite is the predominant copper mineral in the dacite dikes (IDAP), copper grades are generally over 0.2% with occasional values exceeding 1% Cu near dike contacts with the intruded BDP. The IMDP is the least well-mineralized intrusive with respect to copper and gold, with grades in the ore zone averaging 0.37% Cu and 0.38 g/t Au respectively.
The main economic portion of Kingking deposit (as defined by a 0.20% total copper cut-off) is elongated along a N70°W trend and measures approximately 1,800 m long and from 250 m to 550 m wide.
Mineralization
Gold and copper mineralization in the Kingking deposit is hosted primarily by the elongate, dike-like N60°W-striking diorite intrusive complex. The copper-gold mineralization occurs as fracture fillings and to a lesser extent as disseminations in the diorite porphyries (and to a much lesser extent the dacite porphyry) and adjacent wall rocks. Better gold and copper grades appear to occur where there was interaction between the various rock types, such as along contact zones or where several intra-mineral dikes or intrusives cut the earlier lithologies.
The majority of the mineralization in the Kingking deposit is hypogene (sulfide). For process development purposes, two types of mineralization are considered: sulfide and oxide (which includes mixed oxide-sulfide material).
Oxide Zone
In general, the depth of oxidation is greatest under ridge tops (reaching 150 m in thickness) and thins progressively to the valley bottoms where oxidation may only extend to a depth of a few meters due to active erosion. The Lumanggang area contains the greatest thickness of surface oxidation. The transition between the oxide and sulfide horizons is usually quite abrupt, with mixed zones seldom more than a few tens of meters thick.
In the oxide and oxide-sulfide (mixed) zones, partially oxidized chalcopyrite and bornite are occasionally found along with weak acid soluble copper mineralization mostly occurring in silicates and phosphates that are only observable with combined backscatter electron imaging and x-ray mapping techniques. Copper silicates are the most abundant oxide mineral group present, with copper silicate minerals containing MgO and FeO being the most prevalent in the oxide zone.
Gold is relatively abundant in the oxide zone, as evidenced by widespread gold panning and small-scale mining activities on the oxidized slopes of Casagumayan and Tiogdan. Some of the gold particles examined in the possession of the small-scale miners were found to be attached to quartz and/or blebs of magnetite. Gold particles panned along the creeks typically range up to 2 mm in diameter.
Mixed Zone
The mixed zone consists of the oxide minerals, partially oxidized chalcopyrite and bornite, and limited supergene chalcocite and covellite mineralization. Chalcopyrite and bornite are partially to completely replaced by the secondary chalcocite and covellite, with covellite almost always rimming bornite.
Sulfide Zone
Hypogene (sulfide) copper mineralization consists predominantly of chalcopyrite with overall lesser amounts of bornite and primary chalcocite, the latter occurring as fracture fillings in the areas of the deposit that are distinctly more borniterich. Bornite dominant areas include the biotite diorite porphyry, where bornite partially replaces chalcopyrite and occurs in amounts roughly equal to or greater than chalcopyrite.
Lesser sulfide minerals include molybdenite, which commonly occurs as fracture coatings and in quartz veins, digenite, covellite, tetrahedrite, galena, and sphalerite. The minerals have been observed in trace amounts in petrographic studies. There also appears to be a higher grade molybdenite-bearing shell along the fringes the copper-gold mineralization.
Gold occurs in the sulfide zone of the deposit in free form in close association with bornite and as ex-solution intergrowths in other sulfides, particularly chalcopyrite. Native gold is occasionally observed on fractures and in quartz veinlets.
The Kingking deposit is characteristically low pyrite (<1%), as reflected by the relative absence of a pyrite halo that is commonly developed around most porphyry copper deposits.