Hillgrove Resources Ltd (ASX:HGO) is encouraged by the latest drill results from Nugent copper-gold deposit where the company recently undertook a 24-hole drill program.
Nugent is part of the Kanmantoo Project, 55 kilometres southeast of Adelaide in South Australia.
Of 24 holes drilled, 23 intersected the Nugent copper-gold lode system and demonstrate the continuity and copper-gold endowment of the system.
The Nugent system is now drilled over 280 metres in strike length and extends more than 200 metres below the previously mined Nugent open pit.
This system remains open to depth and along strike to the southeast.
Drilling highlights include:
- 14.5 metres at 1.60% copper and 0.34 g/t gold (1.8% copper equivalent) from 175 metres downhole including 3.0 metres at 5.17% copper and 1.27 g/t gold (6.0% copper equivalent) from 175 metres and 14.8 metres at 0.87% copper and 0.69 g/t gold (1.3% copper equivalent) from 252.2 metres;
- 16.55 metres at 1.22% copper and 0.43 g/t gold (1.5% copper equivalent) from 229.05 metres;
- 9.15 metres at 1.4% copper and 1.09 g/t gold (2.1% copper equivalent) from 289 metres downhole;
- 9.2 metres at 1.44% copper and 0.81 g/t gold (2.0% copper equivalent) from 209 metres downhole; and
- 4.9 metres at 1.11% copper and 0.52 g/t gold (1.5% copper equivalent) from 370.1 metres downhole.
The 2021-2022 drilling has successfully infilled the drill density across the 2020 inferred resources and extended the mineralisation beyond the limit of the previous inferred resources.
Meanwhile, drill results continue to affirm the economic potential for an additional underground operation utilising the invested capital in the Kavanagh underground operations and the Kanmantoo Processing Plant.
Increased footprint
The company sees the drilling program as highly successful.
Hillgrove has infilled the inferred resources and increased the mineralisation footprint.
Drill holes such as KTDD230 with 14.5 metres at 1.8% copper equivalent and 14.8 metres at 1.3% copper equivalent demonstrate that the Nugent zone continues to the south, while drill holes at depth, including KTDD231 with 9.15 metres at 2.1% copper equivalent demonstrate that the Lode is still open to depth.
“The drilling results confirm the Nugent system extends beyond the previous mineral resource estimate both along strike and at depth," Hillgrove CEO and managing director Lachlan Wallace said.
"We are looking forward to getting these drill results into the resource model, which we expect will increase in both size and geological confidence, and then into the mine plan.
“In addition, it was very pleasing to see the strong drilling results at depth and to the south, which remain open and provide excellent opportunities to further increase the mineral inventory.”
What’s next
The next steps for the evaluation of the Nugent underground copper-gold mineralisation include:
- Complete an updated mineral resource estimate for Nugent, and
- Undertake an economic evaluation of Nugent and its incorporation into the Kanmantoo mine planning schedule.