Kingsgate Consolidated Limited (ASX:KCN) has confirmed its wholly-owned subsidiary Akara Resources has drilled more significant gold intercepts in an area approximately 20km south of the Chatree Gold Mine in Thailand.
The new hits follow on from the significant gold intercepts from Reverse Circulation (RC) drilling earlier this year at the Chang Puek prospect, including 26m@3.02 g/t Au and 7m@5.77 g/t Au.
In the new programme four RC holes were drilled to test the continuity of the ore zone at depth from hole 7647RC in section line 2075N and 50m apart to north section line 2125N and 50m apart to south section line 2025N.
These results indicate 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.
This exploration activity is part of Akara’s regional exploration strategy, which is focusing on a near mine south-eastern corridor within the approved Special Prospecting Licence areas in the Phetchabun Province.
It’s pleasing to see these quality results confirming our strategy that there are contiguous zones to the south-east of Chatree,” Managing Director and CEO, Jamie Gibson, said.
“The original hole in the Chang Puek prospect identified that there was mineralisation in a previously unexplored area, and these additional holes confirm that it remains open at depth.
“We will continue to focus our efforts along this corridor into 2024, as we look to confirm an extension of the existing Chatree system,” he said.