Kingsgate Consolidated Limited (ASX:KCN) Reports Significant Gold Exploration Results
Exploration Achievements
Kingsgate Consolidated Limited (ASX:KCN) announced that Akara Resources continues to intersect significant gold at the Chatree South-East Complex, located approximately 3km from the Chatree Gold Mine. Additionally, gold and silver continuity has been confirmed at the Chang Puek Prospect.
Drilling Progress
The 2025 exploration drilling programme at the Chatree South-East Complex has completed 67% of its planned drilling, aiming to inform an inaugural resource estimate this year. Six drill rigs conducted 38 RC holes totaling 5,158m and five diamond holes totaling 726m between February and March 2025, achieving average recoveries of 68% and 98%, respectively. Notable intercepts include 14.2m at 2.05 g/t Au and 41.53 g/t Ag from drill hole 8118DD. Structural geology analysis suggests mineralisation is likely controlled by an east-dipping reverse fault.
Nueva Esperanza Project Updates
At the Nueva Esperanza Development Project in Chile, Kingsgate completed road repairs and a fixed-wing topographic survey. Geochemical sampling has commenced with approximately 1,000 rock chip and soil samples planned across Potosi, Boulder Patch, and Santa Rosa. To date, 59 samples have been collected and will be analyzed in April 2025.
Future Plans
Kingsgate plans to complete the remaining drilling in the Chatree South-East Complex by Q2 2025, focusing on testing mineralisation extensions and identifying new exploration targets. The company also aims to finalize geochemical sampling at the Nueva Esperanza Project to support future development efforts.
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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