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Kingsgate Consolidated Reports 31% Rise in Silver Ore Reserves at Chile Project

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Kingsgate Consolidated (ASX:KCN) said ore reserves at its Nueva Esperanza project in Chile have increased 31% to 51.9 million ounces of silver and 37% to 260,000 ounces of gold, according to a Thursday Australian bourse filing.

The ore reserve statement is at assumed prices of $35 per ounce silver and $2,500 per ounce gold, extending the reserve life to over 12 years, per the filing.

Mineral resources increased 3% to 62.4 million ounces of silver and 1% to 360,000 ounces of gold at assumed prices of $38.50 per ounce silver and $3,000 per ounce gold, the filing added.

The company's shares rose 1% in recent Thursday trade.

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