(BHP Billiton 17%, Resolute 5%)
Copper – Gold
Kingsgate has a 78% interest in ground located to the south west of the Prominent Hill copper–gold mine The ground covers part of a major NE-SW trending structure extending south westward from the Prominent Hill area.
A technical review of the project has highlighted a number of Olympic Dam/Prominent Hill (IOCG) type targets that merit further evaluation. Of particular interest are a series of magnetic/gravity anomalies that flank the Bulgunnia Fault, a regional structure that also flanks the Prominent Hill copper-gold deposit 100 km to the northeast. Previous exploration has not effectively tested these targets.
A proposal has been submitted to obtain PACE funding (from the SA government) for a drilling programme to test the priority A1 Target.