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Kingsgate Consolidated Ltd.
Summary
| Project: | Chatree | |
|---|---|---|
| Deposit: | Chatree | |
| Location: | Thailand | |
| Commodities: | Gold-Silver | |
| Date: | 10/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Mine in Care & Maintenance | |
| Report details: | 5-10-2017: Kingsgate Consolidated Ltd. announces a Resource Estimation report for its Chatree deposit at the Chatree project. Updated mineral resources, removal of previous ore reserves through mining depletion. Kingsgate Consolidated Limited (ASX:KCN) (“ | |
| Resources: | (Resource, Total): 163.6Mt @ 0.65g/t Au, 5.59g/t Ag for 3.42Moz AU, 29.4Moz Ag contained at project | |
| CP/QP: | [Resources]: Ron James, Maria Munoz (Internal) | |
| ABSTRACT: | Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Company”) wishes to advise that it has updated its Mineral Resources and Ore Reserves for the period ending 30 June 2017. The update takes into account mining depletion and current economic and operational assumptions. Reflecting the importance of silver, Mineral Resources and Ore Reserves are quoted for gold, silver, and on a gold equivalent and silver equivalent basis (AuEq and AgEq respectively). Chatree Mineral Resource estimates have not materially changed from the estimates reported for 30 June 2015. The Chatree Mineral Resources in this report are derived from the same block model used for the June 2016 estimates, with depletion by mining to the end of June 2017 (in practice to the end of December 2016), and comparatively minor stockpile changes. Information relating to Chatree Mineral Resource estimation is available in an ASX:KCN announcement titled “Kingsgate 2016 Mineral Resources and Ore Reserves” dated 23 October 2015. Chatree Mineral Resources are estimated at 3.4 million ounces of gold (164Mt at 0.65g/t Au and 5.59g/t Ag) compared to 3.53 million ounces of gold for the 30 June 2016 estimate. This decrease is in line with mining depletion for the period comprising 2.6Mt at 1.20g/t gold and 22.7g/t silver, and represents approximately 10% more gold and 25% more silver than the Ore Reserves as a result of better than expected average grades from the mine. 3 Chatree Ore Reserves are essentially depleted to zero with respect to the 30 June 2016 position of 0.09 million ounces of gold (2.5Mt at 1.1g/t Au and 17.6g/t Ag). The reduction is due to mining depletion and the non-renewal of a Metallurgical Licence to continue processing ore beyond 31 December 2016. | |
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