KGL Resources Ltd (ASX:KGL) has bolstered the mineral resource estimate (MRE) for Bellbird deposit within the Jervois Copper Project in the Northern Territory, delivering a 10% increase in contained copper metal and a 28% increase in resource tonnes.
Bellbird now contains 113,400 tonnes contained copper metal, up from 103,100 tonnes, and resource tonnes of 5.76 million tonnes, up from 4.49 million, in the indicated and inferred categories.
In addition, the copper grade is reported at 1.97%, which represents a drop of 14% from 2.30% copper.
Resource growth drilling
The Bellbird deposit hosts one of the three principal mineral resources which comprise the Jervois Project and has been subject to a significant program of resource growth drilling during 2021.
Moving forward, the Rockface mineral resource estimate is underway, and together with Bellbird and Reward resource models, will form the basis for a feasibility study and optimised mine designs.
In addition to copper, Bellbird hosts 2.24 million ounces of silver, up from 2.15 million ounces in 2020 with 1.07 million ounces in the indicated category and the remainder in the inferred category.
The gold resource has increased to 25,000 ounces, up from 21,700 ounces in 2020, with 12,200 ounces in the indicated category.
"Very solid results"
KGL managing director Simon Finnis said: “Even though the copper grade at Bellbird is lower for this mineral resource estimate, the more continuously-defined mineralised lodes will greatly assist with our mining strategy.
"The 10% increase in Bellbird copper metal, along with the 20% increase in copper from Reward announced on January 10, are both very solid results, meeting our expectations from the drilling conducted in 2021."
Resource update
The Bellbird mineral resource estimate was completed by experienced and independent consultants, Mining Associates Pty Ltd.
The estimate incorporated the results from drilling during 2021, along with drilling results from previous years reported in accordance with the JORC guidelines.
Bellbird copper update.
The primary reason for the drop in grade was the inclusion of more mineralised material at, or marginally below the cut-off grade, to improve the continuity of the interpreted lodes.
Furthermore, both gold and silver grades have dropped slightly, but the mineral resource estimates show increased metal contents, in each precious metal, from the 2020 resource estimate to now.
"Positive LOM implications"
“The resource block models for both Reward and Bellbird are now with our mining engineers for open pit and underground mine design and optimisation," Finnis said.
"Initial engineering feedback is that substantially more mill feed can be scheduled from both deposits, compared to earlier designs, and this should have positive implications for the projected life of mine (LOM).
“We are anticipating the completion of the Rockface mineral resource estimate within the next four to six weeks and that will finalise the current round of resource updates.
“Further drilling was carried out north of Reward, known colloquially as Reward Gap, late in 2021 but slower than usual receipt of assay results may preclude them being included in the resources used for the feasibility study.
“The 2022 drilling campaign has commenced and is currently focused at Reward, in areas where it is considered the best potential for easily accessible and additional ore is located.”