KGL Resources Ltd (ASX:KGL) has intersected massive copper sulphides in a hole at the periphery of the high-grade orebody that indicate the potential to expand mineral resources and ore reserves at Rockface deposit of the Jervois Copper Project as well as extend the mine plan.
The fourth hole in the current drilling program at Rockface, KJCD481D3, intersected what is some of the richest copper mineralisation ever seen at Jervois.
Estimated to contain 90% sulphide
This high-grade massive bornite-chalcopyrite mineralisation is visually estimated to contain 90% sulphide, principally chalcopyrite and bornite, over a total true thickness of 3.02 metres.
KGL CEO Simon Finnis said: “This rather unexpected, but spectacular intersection at Rockface North, and the potential it reveals, is anticipated to materially add to the Rockface mineral resource.
"The intersection is close to the current mine plan and will conceptually result in an extension to the west as a minimum.”
Massive copper-sulphide intersection in hole KJCD481D3.
Shares higher
Shares have been as much as 15.85% higher to A$0.69 while the company’s market cap before opening was approximately A$235.4 million.
As part of a feasibility study, KGL is undertaking a program of development drilling at Jervois designed to improve the accuracy of the mineral resource model for mine design purposes and to convert JORC inferred to indicated resource category.
A series of eight resource development drill holes have been scheduled for Rockface, of which four have been completed.
Potential for extensions
By necessity, the development and confirmatory drilling was focused near the margins of the known deposits to better define their boundaries and increase confidence.
While the assessment is only visual and samples have yet to be assayed, the intersection appears to unlock the potential of the Rockface North deposit for high-grade extensions at depth and along strike.
The Rockface mineral resource is open at depth and to the west-southwest.
Downhole EM
"The core from the intersection is being afforded the highest priority for processing and halfcore samples will be despatched for analysis in the coming days,” Finnis said.
Down-hole EM contractors are on-site and it is planned to carry out a DHEM survey on KJCD481D3 in the coming days.
The visually high-grade intersection does not correspond to any of the known EM conductors at Rockface even though the mineralisation is expected to be highly conductive and responsive to DHEM.