What Are Kingsgate's Recent High-Grade Gold Discovery at Chatree?
Kingsgate Consolidated Limited.
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What Are Kingsgate's Recent High-Grade Gold Discovery at Chatree?

Kingsgate Consolidated Limited Unveils High-Grade Gold Intercepts at Chatree

Kingsgate Consolidated Limited (ASX:KCN), a prominent name in the mining industry, has recently announced a significant breakthrough in its mining endeavors at the Chatree Gold Mine. This detailed report delves into the company's latest high-grade gold intercepts discovered through grade control drilling at Chatree, highlighting its potential impact on the company's operations and future prospects.

Discovery at Chatree Gold Mine

Kingsgate's grade control drilling at the A West Pit of the Chatree Gold Mine has yielded substantial results, revealing significant economic grade mineralisation. Notably, five out of the six holes drilled to a depth of 20 meters have shown promising mineralization, which remains open to exploration both to the north and at depth.

Notable Intersections

The drilling results include some remarkable intersections, such as:

TGC85374: 4. 5 meters at 16. 96 grams per ton of gold, including 1.

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5 meters at 44. 70 grams per ton.
TGC85371: 9. 0 meters at 4. 12 grams per ton, including 3. 0 meters at 11. 45 grams per ton.

These findings indicate the presence of high-grade mineralization in two zones, spaced 20 meters apart, extending from the pit surface to the full depth drilled.

Current and Future Drilling Programs

Figures included in the company's announcement illustrate the location of the recent grade control drilling and the proposed follow-up drills. The current drilling program is anticipated to grant quick access to the high-grade ore.

Management’s Perspective

Jamie Gibson, the Managing Director and CEO of Kingsgate Consolidated Limited, expressed optimism regarding these discoveries. He acknowledged the long-held belief about the presence of high-grade ore in the A Pit area, emphasizing the strategic importance of these findings for the company's mining schedule and cash flow.

Boosting Cash Flow and Resource Upgrades

Gibson’s strategy involves prioritizing the completion of the grade control program to expedite the extraction of these valuable ore pockets. This approach is expected to significantly enhance Kingsgate's cash flow. Furthermore, he highlighted the encouraging outcomes from both regional and near-mine exploration programs over the past year, suggesting a positive trajectory for future resource upgrades.

The discovery of high-grade gold intercepts at the Chatree Gold Mine marks a pivotal moment for Kingsgate Consolidated Limited. The company's effective exploration strategies and adept management of resources underscore its capability to capitalize on these findings. As Kingsgate continues to explore and expand its operations, these developments not only promise increased revenue but also reinforce the company’s position in the global mining sector. The future looks bright for Kingsgate as it navigates through this exciting phase of discovery and expansion.

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