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For the period ending 31 December 2017
- Kingsgate continues to progress its 100%-owned Nueva Esperanza Gold-Silver Project in Chile
- Nine Reverse Circulation (“RC”) follow-up drill holes totalling 1,136 metres were completed on the Cerro Blanco West target in late 2017, 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). The best holes were:
- KRCO66, intercepted 18 metres at 207.54g/t Ag;
- KRCO58, intercepted 42 metres at 41.58g/t Ag;
- KRCO59, intercepted 30 metres at 32.26g/t Ag;
- KRC063, intercepted 12 metres at 44.35g/t Ag; and
- KRCO65, intercepted 22 metres at 46.01g/t Ag.
- Full details of these drill results can be found as reported (See Kingsgate ASX Release titled “Step-out Drilling Expands New Silver Rich Zone at Nueva Esperanza, Chile” dated 8 January 2018).
- These results follow a number of encouraging drill intercepts in calendar 2017. The principal focus of the spring exploration program remains to further unlock the excellent potential of the Cerro Blanco West exploration target.
- Work continues on the Feasibility Study for Nueva Esperanza, and as it enters its final stages, it remains on schedule to be completed in the first half of calendar 2018.
- Work also continues on the Environmental Impact Assessment (“EIA”) for Nueva Esperanza, and following the Chilean regulatory agencies request to better outline measures to ameliorate the impact of noise and dust on flora and fauna in the project footprint, it remains on schedule to be submitted in the first half of calendar 2018.