Near Surface Drilling at Jervois Delivers High Grade Results
Brisbane, July 14, 2014 AEST (ABN Newswire) - KGL Resources Limited (
ASX:KGL) (KGOLF:OTCMKTS) report drilling of near surface copper mineralisation at the Reward deposit has delivered consistently highgrade copper intervals in RC drilling including the highest copper grade recorded in drilling at Jervois of 26% Cu in hole JOC028. Significant intervals include:
- 10m @ 3.11% Cu, 0.15% Pb, 0.23% Zn, 20.3g/t Ag, 0.34g/t Au from 37 m (Hole JOC027)
- 7m @ 7.27% Cu, 1.12% Pb, 1.35% Zn, 140.2g/t Ag, 0.38g/t Au from 8 m (Hole JOC028)
Including 2m @ 20.98% Cu, 1.53% Pb, 1.11% Zn, 302.5g/t Ag, 0.77g/t Au from 9 m
- 9m @ 3.34% Cu, 0.33% Pb, 0.08% Zn, 67g/t Ag, 0.52g/t Au from 16 m (Hole JOC037)
- 17m @ 2.48% Cu, 0.12% Pb, 0.16% Zn, 39.5g/t Ag, 0.27g/t Au from 28 m (Hole JOC038)
- 18m @ 2.23% Cu, 0.26% Pb, 0.13% Zn, 54.4g/t Ag, 0.46g/t Au from 51 m (Hole JOC040)
Including 6m @ 4.95% Cu, 0.57% Pb, 0.22% Zn, 107.9g/t Ag, 0.94g/t Au from 51 m
- 23m @ 3.2% Cu, 0.23% Pb, 0.22% Zn, 60.1g/t Ag, 0.34g/t Au from 45 m (Hole JOC041)
Including 6m @ 5.33% Cu, 0.19% Pb, 0.52% Zn, 50.3g/t Ag, 0.41g/t Au from 46 m
- 19m @ 3.54% Cu, 0.19% Pb, 0.84% Zn, 57.2g/t Ag, 0.57g/t Au from 45 m (Hole JOC045)
Including 5m @ 7.04% Cu, 0.14% Pb, 0.83% Zn, 68.4g/t Ag, 1.44g/t Au from 56 m
- 28m @ 2.65% Cu, 0.41% Pb, 0.3% Zn, 89.2g/t Ag, 0.29g/t Au from 58 m (Hole JOC046)
Including 8m @ 5.71% Cu, 0.48% Pb, 0.55% Zn, 132.8g/t Ag, 0.63g/t Au from 63 m
A near surface silver, lead, zinc zone located towards the northern end of Reward has also delivered good grades in RC drilling including :
- 2m @ 0.48% Cu, 6.64% Pb, 4.28% Zn, 47.6g/t Ag, 0.03g/t Au from 22 m (Hole JOC010)
- 10m @ 2.34% Cu, 1.03% Pb, 2.76% Zn, 16.4g/t Ag, 0.02g/t Au from 28 m (Hole JOC015)
- 5m @ 0.15% Cu, 2.67% Pb, 6.54% Zn, 28.7g/t Ag, 0.03g/t Au from 42 m (Hole JOC016)
- 5m @ 0.19% Cu, 8.48% Pb, 2.11% Zn, 95.4g/t Ag, 0.06g/t Au from 21 m (Hole JOC024)
- 10m @ 0.60% Cu, 7.2% Pb, 3.61% Zn, 88.4g/t Ag, 0.08g/t Au from 22 m (Hole JOC025)
- 21m @ 0.26% Cu, 8.71% Pb, 0.83% Zn, 240.1g/t Ag, 0.11g/t Au from 33 m (Hole JOC026)
Several lead assays in holes JOC024, 25, 26, 28 are over-limit and have been cut to 20% lead. Final lead assays for these holes are pending.
The shallow reverse circulation drilling program was completed in May-June and comprised 177 holes for 9,653m. The majority of the holes were drilled at the Marshall-Reward and Bellbird deposits where 59 and 56 holes were drilled respectively. Smaller programs were completed at Cox's Find, Rockface, Green Parrot and at mineralised zones parallel to Marshall-Reward. Holes range from 25m to 100m and were drilled at 10m intervals along traverses spaced at 80m along the deposits.
The drilling program was designed to improve delineation of the oxide, transition and fresh rock boundaries within the regolith profile as part of the planned resource update. Historical drilling of the oxide was not systematic, did not assay for multi elements and importantly did not determine proportions of oxide and sulphide copper ore minerals. At Marshall-Reward and Bellbird chalcopyrite is the dominant copper sulphide mineral. In the oxide and transition zones the chalcopyrite oxidises to copper carbonates (malachite and azurite) with minor bornite.
The assay results for over 10,000 diamond and RC drilling samples remain outstanding and it is anticipated most of these will be received and announced over the next 2 -3 weeks.
Simon Milroy, the Managing Director of KGL Resources, commented:
"We were anticipating good copper grades in the shallow part of the Jervois resource though have been surprised with the extent and continuity. There has been some historical drilling of the near surface resource though much of it did not analyse for gold and in many cases the presence of silver and zinc. We are seeing copper and gold grades that are often much higher than estimated in the existing resource so I am looking forward to the resource update to be completed by the end of August."
To view diagrams and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-KGL-408680.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.
| ||
|
