Kingsgate Consolidated's latest mineral update

Kingsgate Consolidated (ASX:KCN) has issued a significant update on the Mineral Resources and Ore Reserves at its Chatree Gold Mine. As of December 2024, gold resources increased by 13% to 3.8 million ounces, while gold reserves rose by 4% to 1.24 million ounces. Silver resources and reserves also saw notable gains.

Comprehensive summary of Kingsgate's resource update

Kingsgate Consolidated has increased its Mineral Resources and Ore Reserves estimates for the Chatree Gold Mine, driven by updated geological modeling and additional drilling data. The company's gold resources have grown by 13%, and gold reserves by 4%. The update reflects improved estimation processes and aims to enhance mining scheduling and operations. Looking forward, Kingsgate plans further updates in 2025 for the entire Chatree ore body and aims to maintain robust operational practices, following ASX and JORC guidelines. The company remains focused on optimizing its mining activities and ensuring sustainable environmental and community practices.

Executive insights on mineral resource update

The update incorporates key changes in geological modeling and estimation for the A-Pit area, influenced by mining depletion, additional drilling, operational performance, and economic parameters. These revisions will inform the current mining schedule, with further updates expected in 2025 for the rest of the Chatree ore body, including the South-East Complex resources.