Citigold Corporation Ltd

Description

Citigold Corporation is an ASX-listed Australian gold exploration and development company working to restart the historic Charters Towers goldfield in northeastern Queensland, which produced roughly 6.6 million ounces over 45 years of prior operation at an average grade of 38 g/t. The company holds 175 km² of tenure across the historic field and has defined a resource of approximately 14 million ounces of gold (32 million tonnes at 14 g/t), supported by more than 350,000 metres of drilling across 3,200 holes.

No NI 43-101/JORC-equivalent PFS, DFS or PEA with formal economics has been published, the company instead cites successful historical test mining and a target of exceeding 300,000 ounces per year of production once restarted. Existing infrastructure includes a 238-metre production-sized access tunnel, two ventilation shafts, and established power and workshop facilities inherited from the site's mining history, which the company says shortens the path back to production relative to a greenfield project.

Weakness

List of projects

1. Project 1: Charters Towers Gold Project — 100% interest, Queensland, Australia; metals: Gold, Silver.

Deep dive series

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