Citigold Corporation Limited (ASX:CTO)
Citigold Corporation Limited (ASX:CTO) is a gold mining company operating on Australia's highest-grade major goldfield at Charters Towers in north eastern Australia.
Citigold has invested over $200 million to develop the Charters Towers goldfield, has extracted over 100,000 ounces of gold through test mining gold and plans to build up gold production from its underground mines in stages.
Citigold hold's 100% of the high grade Charters Towers goldfield where a Inferred Mineral Resource of 14,000,000 ounces of gold (435 tonnes) in 32 million tonne, at an average grade of 14 g/t gold defined and documented, to JORC (Joint Ore Reserves Committee) Code reporting standards.
Probable Ore Resources are 620,000 gold in 2.5 million tonnes at an average grade of 7.7 g/t gold.