According to the company, drilling results from 13 holes at the Chigargunta NE deposit show an indicated resource of 13,200oz at 15.1g/t based on historic drilling.
Kolar Gold said the current drilling has validated the historic results previously carried out by the Geological Survey of India and provided fresh geological data on the host rocks and structural controls to mineralisation.
The mineralisation and alteration within this area appears to be extensively developed and could represent a substantial hydrothermal system.
Kolar Gold CEO Nick Spencer said the Chigargunta NE deposit represents the first of more than ten targets in the Chigargunta North prospect area which will be drilled as part of the company’s planned 27,000m drill program.
