East Reward Copper Zone Grades Confirm Good Copper Mineralisation
Brisbane, Mar 21, 2014 AEST (ABN Newswire) - KGL Resources (
ASX:KGL) report all results have now been received for Holes KJCD043 and KJCD058, both drilled along strike to the north of the existing Resource. Both holes intersected the Reward deposit and were then extended further to the east where they have intersected a second zone of mineralisation that does not outcrop which has been named East Reward.
- Further drilling at the northern end of the Reward zone continues to intercept significant copper mineralisation
- Extension drilling planned to bring new zone into the Jervois Resource
- Good off-hole EM anomaly to be followed up
Drill results
Hole KJCD058 intersected the following intervals in the East Reward zone
- 4m @ 1.32% Cu, 9.1g/t Ag, 0.07g/t Au from 390 m
- 11m @ 2.63% Cu, 26.1g/t Ag, 0.08g/t Au from 408 m
Including 2m @ 5.86% Cu, 36.7g/t Ag, 0.04g/t Au from 417 m
- 1m @ 3.9% Cu, 36.3g/t Ag, 0.12g/t Au from 421 m
- 2m @ 1.9% Cu, 16.4g/t Ag, 0.07g/t Au from 425 m
Including narrow zones of internal dilution (Table 3) the composited East Reward zone comprises
- 19m @ 1.95% Cu, 18.8g/t Ag, 0.09g/t Au from 408 m
This is in addition to the previously announced intersections in the Reward zone of
- 4m @ 1.47% Cu, 0.16% Pb, 0.11% Zn, 23.1g/t Ag, 0.26g/t Au from 278 m
- 14m @ 1.29% Cu, 0.71% Pb, 0.22% Zn, 28.2g/t Ag, 0.36g/t Au from 286 m
Including 7m @ 2.04% Cu, 0.23% Pb, 0.09% Zn, 42.2g/t Ag, 0.59g/t Au from 293 m
Hole KJCD043 intersected mineralisation in the Reward zone including
- 7m @ 1.36% Cu, 0.14% Pb, 0.12% Zn, 25g/t Ag, 0.53g/t Au from 413 m
The hole was abandoned short of target depth due to lost gear down the hole but not before intersecting further mineralisation in the East Reward zone including
- 7m @ 1.28% Cu, 0.65% Zn, 20.1g/t Ag, 0.06g/t Au from 483 m
The centre of the East Reward lode intersected in KJCD058 contains three zones of massive and semi-massive chalcopyrite in veins from 408m. This is within a broad zone with stringers and dissemination of chalcopyrite that extend for over 15m in the diamond tail for hole KJCD058. This new zone is approximately 50m east of the existing Reward resource and is interpreted to be a parallel vertical structure. The host rock is strongly altered, comprising coarse garnet and magnetite.
This strong alteration has proven to be a good indicator of base metal mineralisation at Jervois, suggesting close proximity to mineralisation
The Reward East position is virtually untested at depth and the lode remains open to the north with no drilling for 800m of strike. Copper occurrences, calcsilicate and gossan exposures have been mapped along the trend. A traverse of RC holes drilled on the northern boundary of KGL Resources tenement in September 2013 intersected copper mineralisation and a broad zone of low-grade zinc mineralisation in calcsilicate altered rocks (KJC006 and KJCD004). A ground electromagnetic (EM) survey has now commenced and will cover the mineralised corridor north of Reward.
A down-hole electro-magnetics (DHEM) survey was undertaken on hole KJCD058 as part of a larger survey and this highlighted conductors in the Reward and East Reward zone. The offhole conductor detected in the East Reward zone is down dip and along strike to the south of hole KJCD058. This will be the target of follow up drilling planned for April.
Simon Milroy, the Managing Director of KGL Resources, commented: "The DHEM survey results to date have correlated well with known areas of high grade mineralisation. This gives us confidence that drilling newly identified DHEM anomalies may result in further high grade results."
To view all tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/76781-ASX-KGL-404027.pdf
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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