KGL Resources Ltd. Deep Hole at Jervois Intersects Copper Sulphide
23.10.2014 | ABN Newswire
Brisbane, Australia (ABN Newswire) - KGL Resources (ASX:KGL) is pleased to announce that diamond hole KJD010W1 has intersected sulphide mineralisation within a broad alteration zone. The hole has intersected the interpreted position of the Reward resource at a vertical depth of 800m below the surface, 300m below any previous drilling and the base of the current resource.Mineralisation comprises veins and disseminations of chalcopyrite with narrow bands of semi-massive sulphide at a downhole depth of 1,097-1,107m (10m). Two additional zones of disseminated sulphides have been intersected at a down hole depth of 1,185-1,215m and 1,230-1,240m. These deeper zones are more weakly mineralised and may represent the depth extensions of East Reward and Morley. Geological logging is underway and assay results should be available in 3-4 weeks.
These new intersections reveal the continuity of mineralisation at depth and open up large areas for future exploration at both Marshall-Reward, Bellbird and along the entire 12km strike length.
KGL Resources Managing Director Mr Simon Milroy said "this intersection is an excellent result for a hole that steps out 300m beyond any previous drilling, illustrating the size of the mineralised system and the potential for further significant extensions to the global resource."
Next Steps: A geophysical survey contractor is now on site to complete downhole electromagnetic (DHEM) surveying. This survey will be searching for conductors well beyond the hole that may indicate the presence of additional sulphide mineralisation. If a suitable conductor is defined then a wedge hole will be drilled from KJD010W1 to test the anomaly. DHEM surveying of KJD010W1 is planned to commence later this week. The geophysics crew will then begin DHEM surveying of several holes drilled in the recent resource drilling program at Marshall and Reward.
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About KGL Resources Limited:
KGL Resources Ltd. (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.
Contact:
KGL Resources Ltd.
Mr Simon Milroy, Managing Director
Phone: (07) 3071 9003