Citigold Corporation Limited - Exploration Update

About this update from Citigold Corporation Limited

Citigold Corporation Limited (' Citigold ' or 'Company') (ASX:CTO) is pleased to announce its exploration activities around Charters Towers , 130 kilometres southwest of Townsville in north Queensland . Rock chip sampling is continuing over Citigold's Exploration Permits as part of the ongoing exploration program to define strike extensions of known mineralisation and to discover new areas of previously unknown mineralisation. The latest rock chip results fall on two sub-blocks of EPM 18465, located nine kilometres south and southeast of Charters Towers . Citigold's Chairman, Mr Mark Lynch , stated: 'It is intriguing that there are no known gold deposits or historical workings that could be responsible for the anomalies. This is a new gold discovery, warranting follow-up. It confirms our view that there is still undiscovered gold mineralisation in and around the goldfield. While it is too early yet to know the significance and full extent of this new mineralisation, it is encouraging to know that new gold mineralisation is still being unearthed.' There are no associated copper, lead or zinc anomalies, although the copper, lead and zinc values in the anomalous samples are above the average of the non-anomalous samples, which indicates that the mineralisation may be late-stage lower-temperature gold-quartz mineralisation. This is supported by elevated values in the anomalous samples of other metals such as arsenic, bismuth, cobalt, chromium, potassium, nickel, thorium, titanium, vanadium and zinc. Elevated metal values and detectable gold sample coordinates are shown in Table-1. CRITICAL MINERALS As of December, 2023 the Australian Government considers 30 resource commodities to be Critical Minerals (Geoscience Australia, 2023) essential for modern technologies, economies or national security, and that have a supply chain at risk of disruption. Individual countries develop their own lists of critical minerals based on the relative importance of particular minerals to their industrial needs and strategic assessment of supply risks. In addition, assessments of mineral criticality reflect market and political conditions at a particular point in time and are subject to change. See: Critical Minerals Strategy 2023-2030 | Department of Industry, Science and Resources . The 30 Australian Critical Mineral commodities are high-purity alumina, antimony, arsenic, beryllium, bismuth, chromium, cobalt, fluorine, gallium, germanium, graphite, hafnium, indium, lithium, magnesium, manganese, molybdenum, niobium, platinum-group elements, rare-earth elements, rhenium, scandium, selenium, silicon, tantalum, tellurium, titanium, tungsten, vanadium and zirconium. While gold is Citigold's primary target, a watching brief is kept for Critical Minerals plus copper, lead, zinc, tungsten and uranium. Pegmatite dykes are the most likely host rock in the Charters Towers area and these are routinely examined in field traverses for spodumene and lepidolite (lithium), beryl (beryllium), tourmaline (fluorine) and fluorite (fluorine). Uranium in the granites and granodiorites is usually undetectable Cautionary Note This release may contain forward-looking statements that are based upon management's expectations and beliefs in regard to future events. These statements are subject to risk and uncertainties that might be out of the control of Citigold Corporation Limited and may cause actual results to differ from the release. Citigold Corporation Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release. Competent Person Statement: The following statements apply in respect of the information in this report that relates to Exploration Results: The information is based on, and accurately reflects, information compiled by Mr Christopher Alan John Towsey , who is a Corporate Member and Fellow of the Australasian Institute of Mining and Metallurgy . Mr Towsey is a Chartered Professional (Geology) and currently independent of Citigold Corporation Limited , having previously been a Director of the Company from 2014-June 2016. He has the relevant experience in relation to the mineralisation being reported on to qualify as a Competent Person as defined in the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Identified Mineral Resources and Ore Reserves 2012. Mr Towsey has consented in writing to the inclusion in this report of the matters based on the information in the form and context in which it appears. For full details see Technical Report on the Mineral Resources and Reserves at www.citigold.com click Mining >Technical Reports >Mineral Resources and Reserves 202 (C) 2024 Electronic News Publishing, source ENP Newswire

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