Kingsgate Consolidated Ltd

Published : November 27th, 2014

Strong Gold and Silver Assay Results Continue at Nueva Esperanza, Chile

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Keywords :   Chile | Copper | Diamond | Gold | Growth | Silver |

Strong Gold and Silver Assay Results Continue at Nueva Esperanza, Chile

Kingsgate Consolidated Ltd (ASX: KCN) is pleased to announce new assay results from the ongoing drilling program at its Nueva Esperanza project in Chile. The new drill results continue to intersect further significant gold and silver mineralisation to the west of the existing Chimberos Pit with ECHR-50 located approximately 350 metres to the west of the current resource boundary.

The latest results include:

  • 15 metres @ 7.13g/t gold & 103g/t silver (8.8g/t AuEq60) from 150 metres in ECHR-50;
  • 20 metres @ 5.18g/t gold & 84g/t silver (6.6g/t AuEq60) from 118 metres in ECRH-42;
  • 37 metres @ 3.27g/t gold & 52g/t silver (4.1g/t AuEq60) from 180 metres in ECHR-24;
  • 22 metres @ 2.04g/t gold & 23g/t silver (2.4g/t AuEq60) from 183 metres in ECHR-41; and,
  • 13 metres @ 1.92g/t gold & 71g/t silver (3.1g/t AuEq60) from 143 metres in ECHR-46.

Hole ECHR-25, that intersected the spectacular result of 170 metres at 4.2g/t AuEq60, announced to ASX on 27 October 2014, has now been extended from 232 metres to 430 metres with Diamond drilling. Preliminary logging indicates significant zones of silicification and argillic alteration with abundant proportions of pyrite and copper mineralisation, including chalcopyrite and chalcocite, of hydrothermal origin (see Photo 1 below).

The mineralisation continues to remain open at depth and along strike and shows remarkable consistency. Further drilling to follow up these intersections is underway with two drill rigs working on double shifts.

Note that almost all the significant intersections reported to date comprise assay values consistently close to the average grade of the overall intercept with almost no extremely high grades to potentially bias the result. This characteristic will have a positive impact on the eventual resource estimation and corresponding assessment of contained metal for this deposit.

Approximately 6,000 metres have been drilled to date in the current program since late August. This program has been recently expanded by a further 10,000 metres to follow-up extensions within the Chimberos gold and silver mineralisation, including re-entering several holes that finished at depth in mineralisation.

A ground magnetics survey was recently completed over the current exploration zone and early interpretation indicates possible structures and signatures consistent with deep intrusive bodies.

The ground geophysics suggests that the system could be open further to the west and the survey is being extended in that direction and also the geophysical anomaly extends to the south.

Kingsgate's Executive Chairman, Mr. Ross Smyth-Kirk said, "The continuation of these strong results from this drilling program is extremely satisfying and is increasing our confidence in the potential for significant growth at Nueva Esperanza."

"The importance of the growing gold potential of Nueva Esperanza should not be underestimated as it is likely to have a significant impact on the ultimate development."

Ross Smyth-Kirk
Executive Chairman
Kingsgate Consolidated Limited

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Kingsgate Consolidated Ltd

ISIN : AU000000KCN1
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Kingsgate is a zinc and lead producing company based in Australia.

Kingsgate produces zinc, lead, gold and silver in Thailand, develops lead, silver and zinc in Australia, and holds various exploration projects in Australia.

Its main asset in production is CHATREE in Thailand and its main asset in development is BOWDENS in Australia.

Kingsgate is listed in Australia, in Germany and in United States of America. Its market capitalisation is AU$ 399.1 millions as of today (US$ 288.0 millions, € 252.3 millions).

Its stock quote reached its highest recent level on January 07, 2011 at AU$ 9.90, and its lowest recent point on October 21, 2016 at AU$ 0.13.

Kingsgate has 223 580 000 shares outstanding.

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In the News and Medias of Kingsgate Consolidated Ltd
3/29/2006Corporate profile
Financials of Kingsgate Consolidated Ltd
8/22/2008Full Year Financial Results - Boardroom Radio Interview
8/21/2008Full Year Financial Results web cast
Corporate news of Kingsgate Consolidated Ltd
6/16/2016Kingsgate Consolidated Request for Continuation of Voluntary...
5/26/2016KCN Request for Continuation of Voluntary Suspension of Trad...
5/24/2016Request for Voluntary Suspension
5/24/2016Request for Trading Halt
4/28/2016March 2016 Quarterly Report
4/21/2016KCN Corporate Presentation April-May 2016
4/14/2016Nueva Esperanza Pre-feasibility study confirms Kingsgate Gro...
4/14/2016Nueva Esperanza Mineral Resource Update
3/31/2016Chatree Gold Mine – Revised Mine Plan
3/31/2016Successful Completion of Due Diligence Period for Bowdens Si...
3/22/2016KCN Corporate Presentation
1/21/2016December 2015 Quarterly Report
12/15/2015New Gold discovery at Nueva Esperanza Project, Chile
11/4/2015Response to Open Offer for Challenger Gold Mine
11/1/2015Proposed Divestment of Challenger Gold Mine
10/26/20152015 Mineral Resources and Ore Reserves
10/3/2015Kingsgate Statement on Thai Media Reports
9/17/2015Full Year Statutory Accounts – 2015
7/15/2015Chimberos Gold Discovery Adds Significantly to Mineral Resou...
3/1/2015Chatree Mine Recommences Gold Production
1/29/2015Further Strong Gold and Silver Assay Results at Chimberos We...
12/17/2014Appointment of Non-Executive Director
11/27/2014Strong Gold and Silver Assay Results Continue at Nueva Esper...
11/21/2014Challenger Gold Mine Celebrates Its One Millionth Ounce
11/13/2014Appointment of CFO and Company Secretary
3/28/2014Placement Cleansing Statement
3/28/2014Appendix 3B
3/18/2014Ceasing to be a substantial holder
3/18/2014Becoming a substantial holder
3/18/2014Becoming a substantial holder
3/18/2014Ceasing to be a substantial holder
7/30/2013June 2013 Quarterly Report
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