Kingsgate Consolidated advances Chatree Gold Mine operations

Cloud PRWire

May 30, 2024
by Cloud PR Wire

–News Direct–

Kingsgate Consolidated Ltd (ASX:KCN) CEO and managing director Jamie Gibson sits down with Proactives Jonathan Jackson to discuss the Pacific Rim gold producers latest developments. The company owns the Chatree Gold Mine in central Thailand and the Nueva Esperanza Development Project in northern Chile's Maricunga gold and silver belt. The flagship Chatree Gold Mine has produced 1.8 million ounces of gold and 10 million ounces of silver from 2001 to 2016. It operates as a large-scale, low-cost, open-pit mine with a processing capacity of over 5 million tonnes per annum across two plants. The mine has a remaining life of approximately nine years based on a 1.3 million-ounce gold reserve. Operations at Chatree resumed in March 2023, and the company is focusing on completing the Plant #1 Overhaul Project to return to steady-state production of 100,000120,000 ounces of gold annually. Kingsgate recently announced that Plant #1 at Chatree has been permitted to operate following an inspection by the Department of Primary Industries and Mines. Full commissioning and a ramp-up to full operations are underway. Gibson highlighted the significance of this milestone in rebuilding the Chatree Gold Mine and unlocking its full potential. Additionally, Kingsgate reported ongoing successful exploration at the Chalawan and Kumpee prospects near Chatree which are run by Akara Resources, with significant gold intersections. A combined total of 39 reverse circulation (RC) holes were drilled, revealing promising results. There is optimism about further exploration potential and plans for targeted drilling and geophysical surveys to unlock greater value at Chatree.