Citigold Corporation Limited is an ASX-listed company with gold and silver exploration and mining operations within the Charters Towers tenements in northern Queensland. Charters Towers is 100% owned by Citigold and the deposit represents one of the highest grade goldfields in Australia. The project is expected to enter into a development and ramp up phase which could lead to a notable increase in production.

Citigold Corporation

Ownership:

LionGold Corp owns 15% of Citigold Corporation Limited, and is the company’s largest single shareholder.

Location:

The centre of the Charters Towers goldfield is about 1,000 kilometres north of Brisbane and 128 kilometres southwest of Townsville in Queensland, Australia.

Size & Prospects:

Tenements include 148 square kilometres Central goldfield with control of a surrounding exploration area of more than 1,000 square kilometres through 58 holdings:

  • 47 Mining Leases spanning 24.4 square kilometres
  • 5 Mineral Development Licences spanning 48.9 square kilometres
  • 2 Exploration Permit Minerals Applications spanning 604.8 square kilometres
  • 4 Exploration Permit Minerals spanning 875.6 square kilometres

The defined Resources generally extend at a depth of between 100 and 1,200 metres in over 80 major reefs typically 0.3 metres to 1.5 metres thick over a total strike length of about 5 kilometres. The gold is finely disseminated but is largely free milling. The Central area is an established mine site and contains some 6 million ounces of gold along about 4km of strike. The Imperial area includes the Warrior and Sons of Freedom reefs to the southeast of Charters Towers and contains about 4 million ounces of gold.

Processing Plants:

Standard Minproc style Carbon-in-Leach (CIL) gold processing plant with a design capacity of 340,000 tonnes per year.

  • History

  • Geology
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