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Kingsgate Consolidated Ltd.
Summary
| Project: | Nueva Esperanza | |
|---|---|---|
| Deposit: | Nueva Esperanza | |
| Location: | Chile | |
| Commodities: | Silver | |
| Date: | 7/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-7-2017: Kingsgate Consolidated Ltd. announces an Exploration/Drilling Update report for its Nueva Esperanza deposit at the Nueva Esperanza project. Drilling results incl. 50m @ 84.04g/t Ag from 62m. Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the | |
| Resources: | (Resource): 0.08Moz Au (Meas.), 1.46Moz Au (Ind.) & 0.33Moz AU (Inf.) at project | |
| CP/QP: | [Overall Report]: Alistair Waddell (Internal) | |
| ABSTRACT: | Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the “Company) has discovered a new zone of silver mineralisation (“Cerro Blanco West”) as a result of exploration drilling at its 100% owned Nueva Esperanza precious metals project in Chile. Nueva Esperanza is a feasibility-stage development project with a resource base of approximately 1.9 million ounces gold equivalent1 . Eight Reverse Circulation (“RC”) holes (See Figure 2) totalling 1,226 metres were completed on the new Cerro Blanco West target prior to drilling being halted by the early onset of winter conditions. Cerro Blanco West is a blind exploration target located approximately 800 metres southwest of Cerro Blanco, a large topographic high preserving shallow-level opaline and steam-heated alteration. All drill-holes intersected similar style silver mineralisation, with sectional interpretation indicating a broadly sub-horizontal, oxidised, “manto” like zone generally ranging from 20 metres to 60 metres in thickness (See Figure 3). Results of the drilling are summarised in Table 1 overleaf. 2 Drilling was completed on the following targets; Carachitas Central, Arqueros, Arqueros SW, Teterita, Huantajaya, Cerro Blanco, Potosí, Cerro Gaston, and Cerro Blanco West (See Figure 1). The most encouraging exploration results to-date have come from Cerro Blanco West. | |
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