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Kingsgate Consolidated Ltd.
Summary
| Project: | Nueva Esperanza | |
|---|---|---|
| Deposit: | Nueva Esperanza | |
| Location: | Chile | |
| Commodities: | Silver-Gold | |
| Date: | 9/27/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-9-2018: Kingsgate Consolidated Ltd. announces a Resource Estimation report for its Nueva Esperanza deposit at the Nueva Esperanza project. Statement of resource and reserves, unchanged since last estimate. Kingsgate Consolidated Limited (ASX:KCN) (“Kin | |
| Resources: | (Reserve, Prob.): 17.1Mt @ 0.5g/t Au. 87g/t Ag | |
| CP/QP: | [Overall Report]: Not stated (n/a) | |
| ABSTRACT: | Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Company”) wishes to advise on the status of its Mineral Resources and Ore Reserves for the period ending 30 June 2018. Mineral Resources and Ore Reserves are quoted for gold, silver, and on a gold equivalent and silver equivalent basis (AuEq and AgEq respectively). Explanatory Note: In May 2016, the Thai Government made a national mining policy change calling a halt to all gold mining in the country by 31 December 2016. Subsequently, it was announced that the Chatree Gold Mine’s (“Chatree”) Metallurgical Licence would be revoked as of 31 December 2016. Based on this information, the Chatree Ore Reserves were re-estimated to 31 December 2016. In order to demonstrate the impact of the mine closure, a second table of potentially economic mineralisation has been provided separately to show the position if a Metallurgical Licence was to be granted in future. For further information in relation to the premature closure of Chatree, please refer to ASX:KCN announcements dated: 11 May 2016, 12 May 2016, 26 May 2016, 16 June 2016, 28 October 2016, 1 November 2016, 2 December 2016, 14 December 2016, 3 January 2017, 3 April 2017, 3 July 2017, 18 August 2017, 13 October 2017, 2 November 2017, 10 November 2017, 27 March 2018, 6 April 2018, 1 June 2018 and 6 July 2018 respectively, and more generally information in relation to Kingsgate’s claim for restitution and compensation under the Australia-Thailand Free Trade Agreement can be found at: www.kingsgate.com.au 2 Group Mineral Resources Group Mineral Resources (inclusive of Ore Reserves) remain unchanged as there were no mining activities during the year, and are estimated at 3.91 million ounces of gold and 112.8 million ounces of silver (203Mt at 0.60g/t Au and 17.3g/t Ag). (See page 4 of this release for the definition of Chatree and Nueva Esperanza equivalence factors). On a gold equivalent basis, Group Mineral Resources also remain unchanged from 30 June 2017, and were estimated at 5.5 million ounces gold equivalent (203Mt at 0.85g/t AuEq). | |
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