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Kingsgate Consolidated Ltd.
Summary
| Project: | Nueva Esperanza | |
|---|---|---|
| Deposit: | Nueva Esperanza | |
| Location: | Chile | |
| Commodities: | Gold-Silver | |
| Date: | 2/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-2-2017: Kingsgate Consolidated Ltd. announces an Exploration/Drilling Update report for its Nueva Esperanza deposit at the Nueva Esperanza project. Drilling results incl. 10m @ 6.66g/t Au, 31.81g/t Ag from 12m. Kingsgate Consolidated (ASX:KCN) (“Kingsg | |
| Resources: | (Resource): 0.08Moz (Meas.), 1.46Moz (Ind.) & 0.33Moz )Inf.) at project | |
| CP/QP: | [Overall Report]: Alistair Waddell (Internal) | |
| ABSTRACT: | Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the “Company) is pleased to provide an update on exploration activities at its 100% owned Nueva Esperanza Precious Metals Project in Chile. (“Nueva”) Nueva is a feasibility stage development project with a resource base of approximately 1.9 million ounces gold equivalent1 . Kingsgate is moving forward with feasibility and permitting activities in 2017 and in parallel is pursuing a systematic exploration program covering the highly prospective 45km2 alteration footprint (See Figure 1). Two emerging exploration targets of interest are Huantajaya and Carachitas, both of which highlight the potential for gold discoveries outside the existing resource envelopes. Huantajaya Target: This target is located approximately 600 metres southwest of the Chimberos Gold deposit (See Figure 2). Three diamond drill holes totalling 525.5 metres were completed in January 2017 testing the depth projection of outcropping zones of mineralised breccias. Kingsgate has planned for a budget of ~US$5 million for exploration at Nueva during 2017. Since mid-2016, the experienced Chile exploration team has stepped back from the three defined deposits that are the foundation for feasibility and focused on broader property-wide exploration. All historical exploration data in Kingsgate's possession has now been systematically compiled into one GIS database which is driving on-going drill-target generation. The geological models being applied have evolved, with added exploration focus around the margins of large and barren dacitic flow-domes that occur in the district and elsewhere in the northern Maricunga. Exploration has now been prioritised around the peripheries of the numerous dacitic domes on the property, in particular in areas that present strong hydrothermal alteration and accompanying anomalous geochemistry. | |
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