KGL Resources Limited - Drilling Confirms Continuity at Bellbird
24.04.2014 | ABN Newswire
Brisbane, Australia (ABN Newswire) - KGL Resources Ltd. (ASX:KGL) announce that the first batch of assay results has been received for Phase 1 of resource extension drilling at the Bellbird deposit at KGL Resources Jervois Cu-Ag project in the Northern Territory.Best results include:
KJCD026 5m @ 3.9% Cu, 11.1g/t Ag, 0.9g/t Au from 375m
KJC017 3m @ 1.79% Cu, 7.1g/t Ag, 0.23g/t Au from 106m
KJC019 2m @ 2.25% Cu, 20.4g/t Ag, 0.22g/t Au from 219m
KJC020 3m @ 1.88% Cu, 10.1g/t Ag, 0.26% Au from 137m
Resource extension drilling commenced in September 2013 with the aim of extending the mineralisation beyond the 2012 resource boundary and the current Resource. Drilling was conducted on an 80m x 50m grid that is sufficient to support an Inferred resource. Drilling was designed to test for extensions below the pit and between Bellbird and Bellbird North. Results for all holes drilled north of the proposed open pit outline have been received. Results are pending for resource extension holes drilled below the pit.
Drill results have confirmed the continuity of mineralisation between Bellbird and Bellbird North and at depth (see Figure 1 in link below). The grade and thickness of copper mineralisation is variable with best mineralisation at depth in holes KJC031 and KJCD026 where the mineralisation is still open.
The drilling has identified a new zone of copper, lead and zinc mineralisation to the east of Bellbird that trends NNW. This trend corresponds with surface exposures of ferruginous schist with malachite staining that extends from the Rockface prospect to the southeast.
Further field work and possibly drilling is planned to assess the significance of this new trend.
Next Steps
Phase 2 of the resource extension program commenced in March and is scheduled to continue into May. Five Phase 2 holes are planned at Bellbird to extend and in-fill existing drill coverage. One hole will be drilled to test a possible sulphide shoot plunging steeply north under hole KJCD026 and a diamond hole will be drilled at Bellbird North to extend a lens of high-grade lead-zinc mineralisation.
The diamond drill rigs are currently drilling at the northern end of the Reward and East Reward zones and will then move to test for further extensions of the high grade silver, lead and zinc mineralisation at the southern end of the Marshall zone. Further assays are pending in these areas and will be announced when received.
To view all tables, figures and charts, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-KGL-405331.pdf
About KGL Resources Limited:
KGL Resources (ASX:KGL) is an Australian-based, emerging copper mining company listed on the Australian Securities Exchange. KGL Resources is focused on the development of the Jervois copper project in the Northern Territory.
Contact:
KGL Resources Ltd.
Mr Simon Milroy, Managing Director
Phone: +61-7-3071-9003