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Kingsgate Consolidated Ltd.
Summary
| Project: | Nueva Esperanza | |
|---|---|---|
| Deposit: | Nueva Esperanza | |
| Location: | Chile | |
| Commodities: | Silver-Gold | |
| Date: | 1/8/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 8-1-2018: Kingsgate Consolidated Ltd. announces an Exploration/Drilling Update report for its Nueva Esperanza deposit at the Nueva Esperanza project. Drilling results incl. 18m @ 207.54g/t Ag from 30m. Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Alistair Waddell (Internal) | |
| ABSTRACT: | Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the “Company”) is pleased to report the results of seven stepout drill holes from the silver rich Cerro Blanco West Zone (“CBW”) 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 . Nine Reverse Circulation (“RC”) follow-up drill holes totalling 1,136 metres were completed on the Cerro Blanco West target in late 2017 (See Figure 1) following up on eight initial exploration holes previously reported (See Kingsgate ASX Release titled “New Silver Discovery at Nueva Esperanza, Chile” dated 17 July 2017). Cerro Blanco West is a blind exploration target discovered in mid-2017 located approximately 800 metres Southwest of Cerro Blanco, a large topographic high preserving shallow-level opaline and steam-heated alteration. The phase II Cerro Blanco West step-out drill program completed in Q4 2017 was designed to expand and delimit the footprint of stratabound tuff-hosted silver oxide mineralisation identified in last year's initial eight hole campaign (see press release 17th July 2017) by stepping out aggressively on approximately 100 metre spaced intervals. Drilling has now confirmed that the oxide silver mineralised manto forms a sizeable blanket, extending continuously over 300 metres in an east-west sense, and over 600 metres along its length (NNE direction). | |
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