New Zone of Mineralisation Discovered at Morley Prospect
Brisbane, Aug 8, 2014 AEST (ABN Newswire) - KGL Resources (
ASX:KGL) (KGOLF:OTCMKTS) report a new zone of mineralisation discovered at the Morley prospect parallel to the Marshall and Reward deposits.
Highlights
- Reconnaissance RC drilling at the Morley prospect to the east of East Reward intersected a new zone of shallow mineralisation located beneath outcropping gossans including 14m @ 2.01% Cu, 7.7g/t Ag, 0.06g/t Au from 17 m
- East Reward mineralisation extended at depth 4m @ 3.09% Cu, 0.54% Zn, 28.2g/t Ag, 0.08g/t Au from 485 m
- Extension drilling intersects copper mineralisation below Marshall coincident with a DHEM conductor that lies well outside the existing resource
- Green Parrot mineralisation strike length now increased to approximately 1.1 km with further assays due soon
Morley
Morley is a recently discovered mineralised trend located east of East Reward (Figure 1) and is coincident with a strong induced polarisation anomaly that runs parallel to the Marshall - Reward deposit. Geological mapping along the trend has identified exposures of gossan and calc-silicate rocks ith associated malachite (copper carbonate).
A few shallow holes were drilled at Morley as part of the recent oxide drilling program. Hole JOC172 intersected 14m @ 2.01% Cu, 7.7g/t Ag from 17m. The mineralisation is in alignment with an intersection in the RC pre collar for diamond hole KJCD074 (11m @ 0.86% Cu, 9.8g/t Ag from 12m) also interpreted to be part of the Morley trend. Additional drilling is scheduled for later in the year to test for extensions along strike to the north and south.
East Reward
Drilling in 2013/14 has improved delineation of the East Reward mineralised zone that trends N-S parallel to the Reward resource that lies approximately 80m to the west. Drilling has been on an approximate 80m x 50m grid to support estimation of a maiden resource and has confirmed the continuity of mineralisation. Hole RJ235 drilled in 2012 was re-entered and extended to the east where it recorded several mineralised intercepts including:
- 6m @ 1.71% Cu, 0.41% Zn, 6.2g/t Ag, 0.04g/t Au from 400 m and
- 4m @ 3.09% Cu, 0.54% Zn, 28.2g/t Ag, 0.08g/t Au from 485 m
Green Parrot
Reconnaissance drilling 500m north of the historic Green Parrot open pit (Figure 2) has intersected further shallow copper mineralisation. Results include:
- 3m @ 1.12% Cu and 45.9g/t Ag from 6m in JOC157 and
- 3m @ 1.13% Cu, 56.4g/t Ag from 12m in JOC163
Green Parrot is now interpreted to extend north along a series of shallow workings to the west of the Marshall deposit for a total strike length of approximately 1.1 km. Recent shallow drilling has not closed off this trend with the most northern traverse intersecting copper mineralisation.
Marshall
Diamond hole KJCD078 was drilled beneath Marshall beyond the current resource to test a downhole electromagnetic conductor identified from the recent geophysical survey. A broad 30m mineralised interval was intersected in the Marshall-Reward position. Best results include:
- 2m @ 0.96% Cu, 4.2g/t Ag, 0.15g/t Au from 620 m
- 3m @ 2.12% Cu, 8.7g/t Ag, 0.06g/t Au from 645 m
The intersection is significant because it is located 110m south and 90m below any previous drilling at Marshall and indicates the Marshall mineralisation is more extensive than previously thought.
Simon Milroy the managing director of KGL Resources comments "This is very significant for the project because we have now identified four separate parallel trends of mineralisation at the northern end of Jervois. From west to east we have Green Parrot, Marshall/Reward, East Reward and now Morley."
"Further results are still pending from the previous drilling programme at Cox's Find, Bellbird deeps and at Green Parrot."
"Further drilling is currently being planned for the Jervois project which is expected to commence in September".
To view all diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-KGL-409692.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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