KGL Resources strikes deep copper at Jervois

KGL Resources (ASX:KGL) has started drilling a new deep hole at its flagship Jervois Copper Project in the Northern Territory after identifying copper more than 1,000m below surface.

The $76.58 million market capitalisation company says its latest 13-hole diamond drilling program utilised 2 and at times 3 drill rigs, with holes designed to target several areas of investigation.

These areas of investigation included deep exploration drilling at the Rockface prospect, infill drilling for a mineral resource classification update at the Reward prospect, resource extension drilling at both the Marshall and Marshall Deeps prospects, and the sterilisation of infrastructure.

Key results from this work include hole KJCD575W1 — the deepest hole at Rockface, which returned ‘strong’ copper and gold — with 5m @ 2.43% copper (Cu), 0.55 grams per tonne (g/t) gold (Au), and 18.1g/t silver (Ag) from 1,132.5m, including 2.1m @ 3.53% Cu, 1.01g/t Au, and 21.5g/t Ag from 1,134.54m. 

KGL also struck ‘high-grade’ copper-zinc-lead-silver massive sulphides at Rockface, shallow ‘high-grade’ copper and silver at Reward, and ‘significant’ copper grades at Marshall Deeps. 

Other intercepts include hole KJCD556D4 with 4.1m @ 3.59% Cu, 20.49% zinc (Zn), 4.32% lead (Pb), and 199.9g/t Ag, 0.65g/t Au from 990m (Rockface); hole KJD583 with 5.6m @ 3.25% Cu, and 98.5g/t Ag, 0.63g/t Au from 64.57m, including 3.1m @ 5.07% Cu, 147.9g/t Ag, and 0.93g/t Au from 64.57m (Reward); and hole KJCD578 with 1.8m @ 2.29% Cu, 17.1g/t Ag, and 0.09g/t Au from 632m (Marshall Deeps). 

KGL notes drilling is ongoing, with 2 rigs currently active, and it has moved forward with the drilling of a deeper hole to improve its understanding of the geological structures at depth. 

The deeper hole follows the achievement of a minimum 10-year mine life to support increased copper production. 

KGL Resources Executive Chairman Denis Wood says on top of the copper results, the discovery of high-grade zinc in massive sulphides at Rockface warrants extra drilling in the area.

“Regarding the delay in assay results, some shareholders may be wondering about the reasons behind it. There are 2 main factors at play. Firstly, drilling performance issues necessitated a change to the drilling contractor. Secondly, the sample preparation facility at Alice Springs has been closed, which resulted in more complex logistics and backlogs. 

We have effectively resolved both these issues. We expect that a number of the outstanding assay samples will be processed and reported prior to the end of 2023. 

The results from Rockface and Reward are consistently impressive. Rockface remains open for further drilling at depth, with robust copper and gold grades. The unexpected discovery of high-grade zinc in massive sulphides at Rockface emphasises the need for additional drilling to fully understand its significance. 

“The results from Rockface and Reward are consistently impressive”

At Reward, the current drilling aligns closely with the existing resource model, which is a positive sign for an anticipated update to JORC Measured Mineral Resources. Marshall Deeps holds promise for future exploitation, although further drilling for this target may be more effectively accomplished from underground, during mining operations.” 

KGL Resources is a mineral explorer and developer focused on the delineation and development of the ‘high-grade’ resource at the Jervois Project in the Northern Territory, as well as establishing a sustainable copper mine. 

KGL Resources had $18.707 million cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly report. 

Write to Adam Drought at Mining.com.au

Images: KGL Resources
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.