KGL Resources confirms massive sulphide presence at Jervois’ Rockface deposit, shares rise
The explorer reported its highest-ever copper assay — 40.9% — during drilling at Jervois in Wednesday’s market update.
Company
ASX:KGL
KGL Resources Limited, an ASX-listed Australian mineral exploration and development company, is focused on developing and constructing the high grade Jervois Copper Project mine in the Northern Territory, Australia.
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The explorer reported its highest-ever copper assay — 40.9% — during drilling at Jervois in Wednesday’s market update.
“It is very pleasing to see the geophysical techniques we are using at Jervois continue to support our drilling program, and directing us effectively to extensions of known resources, as well as generating new exploration targets,” says MD.
The Bellbird deposit assays form part of the resource’s definition program for the Jervois Copper Project.
“This rather unexpected, but spectacular intersection at Rockface North, and the potential it reveals, is anticipated to materially add to the Rockface mineral resource,” says CEO.
Project feasibility study is currently progressing, with an emphasis on optimisation of mine design and schedule
The company believes Jervois is exceptionally well placed to enter the world copper market as a supplier with a reserve of 9.4 million tonnes at 2.41% copper.
The halt will remain in place until Wednesday 13th September 2017.
KGL Resources has rapidly expanded the potential of its Yambah project in the Northern Territory by finding two new prospects that demonstrate copper-lead-zinc occurrences for more than 500 metres.
KGL Resources has revealed more high grade copper at its Rockface prospect. Recent Rockface results were not included in the PFS, and therefore provide the opportunity to deliver an overall boost to the projects economics.
Jervois is confirmed as a robust, mid-level scale mining project with an annual production of more than 20,000t of copper, 1moz of silver, plus lead and zinc, with a mine life of more than 8 years. Exploration success has potential to impro
The direct confirmation of mineralisation at Rockface is important because it increases the chances of this area being amenable to mining and added to operational models as Jervois development progresses.
The drill hole, which was targeting a coincident induced polarisation anomaly on the project’s Rockface trend, is deeper than any previous hole drilled at the prospect - and well below the current inferred resource.
All holes drilled to date on targets identified by a recent 3DIP survey at the Jervois Project have intersected new zones of copper mineralisation. Assay results are expected over the next few weeks.
KGL Resources Sydney/Melbourne Investor Luncheon Presentation.