Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • KGL Resources Identifies Two Zones Of Mineralisation At Jervois 0 comments
    Aug 4, 2014 12:32 AM

    KGL Resources (ASX:KGL) has intersected near surface copper mineralisation at the Rockface prospect, which forms part of the Jervois copper-silver-gold project in the Northern Territory.

    In just the first drill program at the prospect, the company defined two zones of mineralisation along the Rockface trend, with highlights including:

    - 12 metres at 1.33% copper, 6.5g/t silver, 0.1g/t gold from 61 metres; and
    - 11 metres at 1.96% copper, 10.3g/t silver, 0.1g/t gold from 85 metres.

    The results highlight the prospective nature of the entire strike length at Jervois.

    Simon Milroy, managing director, commented:

    "This drilling program is the first time KGL has conducted any drilling at Rockface and two zones of mineralisation have been identified on the same trend that remain open along strike and down dip."

    Jerviois drilling program details

    The shallow reverse circulation drilling program was completed in May-June and comprised 177 holes for 9,653 metres.

    The majority of the holes were drilled at the Marshall-Reward (59 holes) and Bellbird deposits (56 holes).

    Smaller programs were completed at Cox's Find, Rockface, Green Parrot and at mineralised zones parallel to Marshall-Reward.

    Holes range from 25 metres to 100 metres, and were drilled at 10 metre intervals along traverses spaced at 80 metres along the deposits.

    The 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.

    Rockface location

    The Rockface prospect is located at the southern end of the 'J‐shaped' Jervois fold 750 metres southeast of Bellbird and is one of several prospects located on the mineralised trend that extends 6 kilometres between Bellbird and Reward.

    Analysis

    Today's assays from Rockface in just the first drilling program highlight the prospective nature of the entire strike length at Jervois.

    The newsflow will continue for KGL Resources in the near-term, with results still pending from Bellbird, Cox's Find and Green Parrot.

    Adding to the prospectivity of assays to come, recent results from Bellbird include 13 metres at 5.75% copper from 20 metres, while at Green Parrot 18 metres at 4.92% copper, (including 2 metres at 31.5% copper).

    The next key catalysts are a resource upgrade expected in late-August, with a PFS in September.

    KGL remains well-funded with $14.8 million in cash at the end of June 2014.

    Simon Milroy will present at the Melbourne Investor Luncheon on Tuesday 12th August. REGISTER TODAY FOR FREE.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.