Kingsgate Consolidated Ltd (ASX: KCN) is pleased to announce new assay results from the ongoing drilling program at its Nueva Esperanza project in Chile, which commenced in August 2014. To date, 9,120 metres have been drilled in 41 holes, supported by a program of high-resolution ground magnetics and induced polarisation/resistivity.
The latest results include:
- 48m @ 7.65g/t gold & 94g/t silver (9.2g/t AuEq60) from 142 metres,
including 4m @ 38.24g/t gold & 76g/t silver (39.5g/t AuEq60) from 159 metres in ECHR-47;
- 25m @ 1.07g/t gold and 317g/t silver (6.3g/t AuEq60) from 99 metres;
including 3m @ 1.25g/t gold & 2,187g/t silver (37.7g/t AuEq60) from 118 metres
- 100m @ 1.96g/t gold & 152g/t silver (4.5g/t AuEq60) from 92 metres in ECHR-55,
including 34m @ 3.92g/t gold & 332g/t silver (9.5g/t AuEq60) from 126 metres,
including 6m @ 5.28g/t gold & 1,157g/t silver (25.1g/t AuEq60) from 142 metres;
- 17m @ 4.55g/t gold & 72g/t silver (5.8g/t AuEq60) from 129 metres in ECHR-38;
- 24m @ 2.98g/t gold & 45g/t silver (3.7g/t AuEq60) from 202 metres in ECHR-52;
- 12m @ 2.40 g/t gold & 47 g/t silver (3.2g/t AuEq60) from 135 metres in ECHR-48;
- 10m @ 3.87g/t gold & 11g/t silver (4.0g/t AuEq60) from 230 metres in ECHR-53; and,
- 5m @ 7.38g/t gold & 26g/t silver (7.8g/t AuEq60) from 229 metres in ECHR-54.
Drilling continues to intersect significant and consistent gold and silver mineralisation to the immediate west of the existing Chimberos Pit in an area named Chimberos West. While mineralisation remains open at depth and laterally, geological interpretation shows well defined structural control, which can now be used to target extensions to this highly prospective area.