Kingsgate Consolidated's Promising Gold Discoveries and New Exploration Targets
KCN (KCN) Share Update December 2024 Thursday 12th
Kingsgate Consolidated Announces Significant Gold Intercepts and New Exploration Targets
Kingsgate Consolidated Limited (ASX: KCN) has announced significant gold intercepts at the Chatree South-East Complex in Thailand and identified new exploration targets at the Nueva Esperanza Development Project in Chile.
Instant Summary:
- Significant gold intercepts at Chatree South-East Complex.
- 22 RC holes drilled for 2,306 meters and one diamond hole for 222 meters.
- Three new exploration targets identified at Nueva Esperanza in Chile.
Chatree South-East Complex Discoveries
Kingsgate Consolidated Limited has revealed significant gold intercepts in its ongoing exploration at the Chatree South-East Complex, located near the Chatree Gold Mine in Thailand. The exploration program, which includes Reverse Circulation (RC) and Diamond Drilling (DD), has been focused on assessing mineralized zones within the complex. A total of 22 RC holes covering 2,306 meters, one diamond hole for 222 meters, and one RD hole for 120 meters have been completed since November 2024.
Significant gold intercepts were reported from both the western and main zones of the mineralized anticline structure. Notable results include 17 meters at 0.48 g/t Au from 54-71 meters and 33 meters at 1.09 g/t Au from 36.5-69.5 meters in the main zone. These findings confirm the presence of near-surface mineralization, which is crucial for future resource estimates planned for 2025.
New Exploration Targets in Chile
In addition to the promising results in Thailand, Kingsgate has identified three new exploration targets at its Nueva Esperanza Development Project in Chile. A geochemical assessment study using historical sampling data has pinpointed Boulder Patch, Potosi South, and Santa Rosa southeast as areas of interest. These targets will undergo further exploration in 2025, including additional sampling and geophysical reviews.
The discovery of significant gold intercepts at Chatree South-East Complex is likely to enhance Kingsgate's resource base, potentially increasing the company's valuation. The identification of new exploration targets in Chile also opens up further opportunities for resource expansion. These developments could positively influence Kingsgate's stock price as investors anticipate future growth in gold production.
Investor Reaction:
Analysts are expected to react positively to Kingsgate's announcement, given the potential for increased gold resources and the strategic expansion into new exploration areas. However, investors will be keen to see further drilling results and resource estimates to confirm the economic viability of these findings.
Conclusion:
Investors should keep a close watch on Kingsgate's upcoming exploration activities and resource estimates. The company's ability to capitalize on these new discoveries will be critical in driving future growth and shareholder value.