AKARA’S SIGNIFICANT GOLD DISCOVERY NEAR CHATREE MINE

Continued Success in Chang Puek Prospect

Kingsgate Consolidated Limited (ASX:KCN) (“Kingsgate” or the “Company”) is excited to report further significant gold intercepts in the Chang Puek prospect, located approximately 20km south of the Chatree Gold Mine (“Chatree”), by Akara Resources (“Akara”). Building on earlier Reverse Circulation (RC) drilling results, including 26m at 3.02 g/t Au and 7m at 5.77 g/t Au (referenced in the ASX:KCN release “Significant Gold Exploration Intercepts in Thailand” dated 1 February 2023), the latest follow-up RC drilling yielded promising intercepts:

  • 7723RC: 9m at 2.81 g/t Au from 61m to 70m
  • 7725RC: 18m at 2.13 g/t Au from 180m to 198m, 4m at 1.31 g/t Au from 212m to 216m, and 8m at 3.18 g/t Au from 228m to 236m
  • 7727RC: 3m at 2.88 g/t Au from 206m to 209m
  • 7728RC: 2m at 1.42 g/t Au from 77m to 79m, and 20m at 3.87 g/t Au from 112m to 132m, including 4m at 17.89 g/t Au from 126m to 130m

These results establish a contiguous mineralisation zone at Chang Peuk, mirroring the geological characteristics of Chatree with quartz carbonate-pyrite veins and hydrothermal breccias in silicified rhyolitic tuff host rocks.

Jamie Gibson, Kingsgate Consolidated Limited’s Managing Director and CEO, commented:

It’s pleasing to see these quality results confirming our strategy that there are contiguous zones to the south-east of Chatree. 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.

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