Kingsgate to post Teterita resource upgrade
17th Feb 2012
SYDNEY, Feb 17 – Kingsgate Consolidated plans to release an upgraded resource by the end of the March quarter after resource drilling intersected consistently higher grades than previously achieved from the Teterita prospect at the Nueva Esperanza silver project in Chile.
Bonanza grade intercepts including 15m @ 2,248g/t silver from 65m may lift the overall grade of the Teterita resource. The company says they are believed in part to be due to differences in analytical method.
Selected high grade silver intersections were 40m at 868g/t from 48m including 15m at 2,248g/t; 17m at 339g/t from 46m including 1m at 1,160g/t; 45m at 179g/t from 53m including 32m at 225g/t; 29m at 317g/t from 64m including 19m at 407g/t; 32m at 155g/t from 32m including 21m at 213g/t; 26m at 340g/t from 24m including 14m at 592g/t; and 62m at 177g/t from 10m including 20m at 452g/t.
Following preliminary mine optimisation studies of the three deposits at Nueva Esperanza, Teterita is likely to be the first deposit mined due to its high silver grade and low strip ratio.
Managing director Gavin Thomas says the feasibility study and environmental impact assessment remain on schedule for first production in the December quarter 2013.
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