Can Kingsgate Consolidated's Latest Exploration Result in Thailand be a Game-Changer?
Kingsgate Consolidated Limited announces significant gold exploration results in Thailand
In what is being described as a significant discovery, Kingsgate Consolidated Limited (ASX:KCN) has announced that Akara Resources has found more gold intercepts in an area approximately 20km south of the Chatree Gold mine in Thailand.
Follow up drilling had returned a contiguous zone in the Chang Peuk prospect, with the mineralisation similar to Chatree, comprising quartz carbonate-pyrite veins and hydrothermal breccias within silicified rhyolitic tuff host rocks.
The discovery is part of a regional exploration strategy and a near-mine south-eastern corridor within the approved Special Prospecting Licence areas in the Phetchabun Province.
More significant gold intercepts
The results of the reverse circulation (RC) drilling were impressive. One hole with a depth of 7725RC returned an intercep of 18 metres at a gold grade of 2. 13 grams per tonne (g/t), with additional grades of 1. 31g/t Au and 3.
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18g/t Au to complete the overall length intercepted of 30 meters.
Another drilling hole with a depth of 7728RC showed an intercept of two meters at a gold grade of 1. 42g/t Au from 77 to 79 meters. The same hole returned a 20-metre-long intercept at a gold grade of 3. 87 g/t Au from 112 to 132 meters, with additional results of 4 meters at 17. 89g/t Au from 126 to 130 meters.
Impressive continuity of the ore zone
The results suggest an ore zone with impressive continuity in the Chang Peuk prospect. Akara used four RC holes to test the continuity of the ore zone, with two to north section line 2125N and 50m apart to south section line 2025N. The results show encouraging continuity and validation of the initial results from RC drilling earlier this year at the prospect.
With the prospect so close to the Chatree Gold Mine, the results are especially exciting for Kingsgate Consolidated Limited.
“We are excited to see these impressive results from Akara’s regional exploration strategy. The results add momentum to our extensive exploration activities in Thailand,” said CEO of Kingsgate Consolidated Limited.
The findings demonstrate that Akara is maintaining an excellent track record of delivering significant gold intercepts throughout its regional exploration strategy.
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