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Transaction Announcement Reports
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Project: | Nueva Esperanza | |
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Deposit: | Nueva Esperanza | |
Location: | Chile | |
Commodities: | Silver-Gold | |
Date: | 9/27/2019 | |
Report Code: | JORC | |
Report Type: | Resource Estimation | |
Project Stage: | Pursuing Feasibility Study | |
Report details: | 27-9-2019: Kingsgate Consolidated Ltd. announces a Resource Estimation report for its Nueva Esperanza deposit at the Nueva Esperanza project. Statement of mineral resources and ore reserves. Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Co | |
Resources: | (Reserve, Prob.): 17.1Mt @ 0.5g/t Au. 87g/t Ag | |
CP/QP: | [Resources]: Ron James (Internal) | |
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 2019. Mineral Resources and Ore Reserves are quoted for gold, silver, and on a gold equivalent and silver equivalent basis (AuEq and AgEq respectively). 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 and the steps Kingsgate is taking via the Australia Thailand Free Trade Agreement to rectify the situation, please refer to the latest announcements section at www.kingsgate.com.au | |
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