Kingsgate Consolidated (ASX:KCN) said 91% of planned drilling for the year at the Chatree southeast complex near the Chatree gold mine in Thailand was completed, and it will inform an inaugural resource estimate for the area, according to a Monday Australian bourse filing.
Reverse circulation and diamond drilling exploration programs are focused on assessing exploration targets and characterizing mineralized zones within the complex, as well as on testing the southern and middle zones of the Chang Puek prospect at the Thai project.
It reported significant intercepts at the complex of 15 meters at 5.14 grams-per-tonne grade of gold from one meter to 16 meters and eight meters at 20.02 g/t grade of gold from 35 meters to 43 meters.
Eight geotechnical holes for 858 meters were drilled as part of a ten-hole geotechnical program to inform a planned prefeasibility study for the complex.
Six rigs are continuing to conduct exploration drilling, with a total of 79 reverse circulation holes for 8,898 meters, and nine diamond holes for 1,209 meters completed since April 1.
Significant intercepts from the Chang Kuek prospect included 19 meters at 1.03 g/t grade of gold from 27 meters to 46 meters, as well as 15 meters at 1 g/t grade of gold from 50 meters to 65 meters.
The firm's shares rose 3% in recent trading on Monday.
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