New Silver Discovery at Nueva Esperanza, Chile
Kingsgate Consolidated (ASX:KCN) (“Kingsgate” or the “Company) has discovered a new zone of silver mineralisation (“Cerro Blanco West”) as a result of exploration drilling 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.
Eight Reverse Circulation (“RC”) holes (See Figure 2) totalling 1,226 metres were completed on the new Cerro Blanco West target prior to drilling being halted by the early onset of winter conditions.
Initial drilling returned the following intercepts:
- Hole KRC-046 intercepted 60 metres grading at 67.57g/t Ag (1.13g/t AuEq602) from 40 metres to 100 metres, including 32 metres at 114.66g/t Ag (1.91g/t AuEq60) from 68 metres to 100 metres;
- Hole KRC-055 intercepted 50 metres grading at 84.04g/t Ag (1.40g/t AuEq60) from 62 metres to 112 metres; and
- Hole KRC-056 intercepted 18 metres grading at 82.32g/t Ag from (1.38g/t AuEq60) 46 metres to 64 metres.
Kingsgate Consolidated Limited