Citigold Corporation is an Australian gold mining company with operations based at Charters Towers in north eastern Australia. A growth company that aims to a cash flow from gold mining operations. The Charters Towers gold and silver deposit is a unique reef system and is one of the highest grade goldfields in Australia. Following the completion of extensive studies of the Charters Towers ore body, the Charters Towers project plans to enter a development and ramp up phase when major funding secured, towards a 220,000 ounce year gold producer.
Based on mining experience at Charters Towers, technical research and analysis, financial evaluation and steady investment to efficiently acquire and develop operations an ambitions plan was formulated to expand Citigold into a initial 220,000 ounce gold producer from the central underground mining area. Citigold hold's essentially all of the high grade Charters Towers goldfield where a Mineral Resource of 11,000,000 ounces of gold (342 tonnes) at an average grade of 14g/t gold has been defined (25 million tonnes @ 14g/t gold) and documented, to JORC(Joint Ore Reserves Committee) Code reporting standards.