Sydney, May 25, 2006 (ABN Newswire) - I have just come back from Kyrgyzstan visiting Kentor’s operations looking at particularly the Akbel site.
The drill testing in the last few months has been positive in that it has given us further confidence that we are in the right part of the world to discover big sediment-hosted gold deposits. It’s giving us vectors we think to where the
gold mineralisation should be and largely now we understand that we have got two distinct corridors to focus our drilling within and we are very confident
that we should have the chance of success in those belts.
We’ve got a situation where we’ve got thick glacial cover, and when the drill rig encounters those sorts of zones we get caving and the holes collapsing
and that sort of thing so getting through this material with the current rig we’ve got has been extremely difficult.
We have implemented a couple of solutions. We have an experienced international driller in Henry Vox who is the ‘Red Adair’ of hard rock drilling in the world and a chap that we have huge amount of respect for.
The current RD 850 rig is really struggling to do the job at hand. So what we are doing is we are going to bring in an RD 1500 rig which is obviously much
bigger capacity both in terms of air and its power.
Since we’ve listed we’ve really progressed our understanding of the Akbel site particularly. We are fairly confident that these deposits form almost like beads on a string.
In the Bashkol license where are planning to do quite a bit of work this year we will be following up multiple anomalous gold drainages that trend along
the zone that is coming from Kumtor to some 60 kilometres from the mine if you like all the way to the boundary of our tenement.
In addition to Akbel and Bashkol, we’ve been systematically exploring other projects elsewhere in Kyrgyzstan. For example, we have just evaluated and
drill tested Uzunbulak. We will be evaluating those results and determining what we do next with that property. At Barkol and Karabalta we are planning
a detailed field assessment starting in June. Elsewhere through our project generation work we have managed to pick up two new very interesting
projects in the southern part of the country at East Koksu and Za-alai.
There is one thing that we should remember about what we are doing—the prize. And the prize is a multi-million ounce deposit within the Akbel zone
and indeed we feel that our further work elsewhere along the trend to the Northeast into the Bashkol licence has got a chance of finding one of those
as well.
About KGL Resources Ltd
KGL Resources (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.
