KGL Resources Limited Jervois Continues to Deliver High Grades- 7m @ 8.88% Cu
04.12.2014 | ABN Newswire
Brisbane, Australia (ABN Newswire) - KGL Resources (ASX:KGL) is pleased to announce that resource definition drilling at Bellbird and Marshall has continued to intersect shallow, high-grade copper mineralisation.Bellbird Prospect drilling
- 7m @ 8.88% Cu, 96.5g/t Ag, 0.29g/t Au from 23 m (RC hole JOC304)
- 15m @ 3.66% Cu, 21.2g/t Ag, 0.5g/t Au from 13 m (RC hole JOC297)
- 9m @ 4.25% Cu, 8g/t Ag, 0.29g/t Au from 18 m (RC hole JOC305)
- 16m @ 1.69% Cu, 5.7g/t Ag, 0.07g/t Au from 2 m (RC hole JOC300)
Marshall Prospect drilling
- 4m @ 3.27% Cu, 0.24% Pb, 0.4% Zn, 46.7g/t Ag, 0.59g/t Au from 169 m (Hole JOC274)
- 2m @ 4.5% Cu, 2.01% Pb, 3.54% Zn, 94g/t Ag, 0.38g/t Au from 31 m (Hole JOC276)
These results are the final batch from the 10,200m Reverse Circulation program completed in October. This drilling was designed to upgrade the remaining Inferred resources within the optimised open pits to the Indicated category and test for potential extensions. The in-fill resource drilling has confirmed the continuity of high-grade copper within the transition zone and its extension to near surface.
Simon Milroy, the Managing Director of KGL Resources comments, "Further good results have confirmed that resources within the open pits are robust and will deliver high grade feed during the crucial early stages of mining'.
Background
In May-June 2014 KGL completed a 177 hole reverse circulation program at Jervois for 9,653m. The drilling program was designed to improve delineation of shallow mineralisation and to improve interpretation of the oxidation boundaries within the regolith profile prior to a resource update.
The new resource was subsequently used for a pit optimisation that forms part of the preliminary feasibility study. The drilling returned high-grade shallow copper intersections that were better than anticipated because of supergene enrichment at the base of oxidation. Following the pit optimisation the current phase of shallow drilling was designed with the aim of converting all Inferred resources within the Marshall-Reward, Bellbird and Morley pits to the Indicated category and test for extensions beyond the pit designs.
To view figures and tables, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-KGL-416219.pdf
About KGL Resources Limited:
KGL Resources Ltd. (ASX:KGL) is an Australian mineral exploration company focussed on increasing the high grade Resource at the Jervois Copper-Silver-Gold Project in the Northern Territory and developing it into a multi-metal mine.
Contact:
KGL Resources Ltd.
Simon Milroy MD
T: +61-7-3071-9003
F: +61-7-3071-9008
www.kglresources.com.au