Kingsgate evaluates Nueva Esperanza
April 2018: In press release published last Friday, the australian mining company confirmed that it has hired the services of Investec Australia Limited to seek the best monetization option for the Nueva Esperanza gold-silver project. Chief Executive Ross Smyth said the sale of the asset remains a possibility.
Nueva Esperanza is a silver and gold project hosted in a high sulphidation epithermal (hydrothermal) system and is currently in pre-feasibility stage. It hosts around 1.9Moz AuEq, but according to the latest drilling results it could be a discovery comparable with the high-grade Au fields typical of the northern area of the Maricunga gold belt, such as the Gold Fields (JSE: GFI) Salares Norte deposit (23.3Mt @ 4.2g / t Au and 44.8g / t Ag) and the last exploration phase of the La Coipa mine of Kinross Gold (TSX: K) (12.7Mt @ 1.6g / t Au and 85.8g / t Ag).