Announce Significant Massive Copper, Lead and Zinc Sulphides Intersected at Jervois
Brisbane, Nov 22, 2013 AEST (ABN Newswire) - Drilling of diamond tails at the Marshall-Reward and Bellbird deposits at KGL Resources Ltd (
ASX:KGL) Jervois project in NT has commenced. The diamond drilling is part of a resource extension program that commenced in September with the aim of increasing the global resource as part of a pre-feasibility study.
We are pleased to announce that diamond drilling at Marshall has intersected a > 10m wide zone of massive and semi-massive sulphide containing visible copper, lead and zinc sulphide mineralisation in hole KJCD048. This intersection sits below the existing Inferred resource boundary in an area previously untested. Drilling along strike both north and south of this location is planned to be completed before the end of December. The core has been cut and despatched to the lab for analysis with results anticipated next week.
Simon Milroy, the Managing Director of KGL Resources, commented: "We are delighted with the discovery of visible copper, lead and zinc sulphide below the existing inferred resource at Marshall, that supports the potential scale of the Jervois project.
The Rockface discovery of copper mineralisation 400m to the west and along strike from the Rockface prospect illustrates the prospectivity of the Jervois project and the potential to add additional high value, shallow resources that can be mined from an open pit. "
Diamond drilling about to commence at Rockface
Approval has been received for a 13 hole drill program on the north (down dip) side of the Rockface prospect and preparation of an access road and drill pads is nearing completion. This provides good access to test the Rockface IP anomaly and commence infill drilling along an untested 400m zone that extends between the historical Rockface intersections to the most recently announced intersections in holes KJC033 and KJC035.
9m @ 1.21% Cu, 4.1g/t Ag, 0.03g/t Au from 105m (Hole KJC033)
24m @ 1.47% Cu, 3.5g/t Ag, 0.04g/t Au from 160m (Hole: KJC035)
An additional track-mounted diamond rig has been mobilised to site and will initially target the centre of the Rockface IP anomaly and then move to infill the untested areas between the two zones of copper mineralisation.
KGL will now have three rigs drilling at Jervois up until the Christmas break.
The Rockface mineralisation is on a separate mineralised trend that has been traced for over one kilometre and is delineated by a ferruginous schist with malachite occurrences that is parallel but north east of Bellbird mineralised trend where there is already a substantial resource established.
KGL Resources is aiming to increase the overall scale of the multi-metal resources at Jervois as part of a Pre-Feasibility Study currently being undertaken.
KGL Resources MD Simon Milroy will be presenting via Live Webcast from Sydney Sky Tower on Monday November 25th. To watch, please visit:
http://www.investorium.tv/webcast
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.
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