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KGL Resources Hits More Copper-Silver-Gold At Bellbird

KGL Resources' (ASX:KGL) has discovered more copper-silver-gold from its extensive drilling program at the Jervois project in the Northern Territory.

Newsflow is set to ramp up for the company, with over 10,000 samples despatched to lab awaiting assay results.

The latest highlights from Bellbird include:

Hole KJC031: 4 metres at 1.5% copper, 7.9g/t silver from 152 metres, including 1 metre at 4.49% copper, 19.9g/t silver; and 4 metres at 4.91% copper, 55.3g/t silver, 0.04g/t gold from 253 metres.

Hole KJC056: 3 metres at 4.7% copper, 14.5g/t silver, 0.06g/t gold from 398 metres, including 1 metre at 12.05% copper, 33.7g/t silver, 0.14g/t gold.

Importantly, there were several holes drilled into the central high grade zone at Bellbird with all intersecting copper mineralisation.

Jervois is a high grade project at 1.25% copper, and currently hosts resources of 170,000 tonnes of copper and 11 million ounces of silver.

Drilling programs

The oxide drilling program completed with all samples now despatched for assay, and has targeted shallow oxide and transitional copper mineralisation at Marshall-Reward, Bellbird, Rockface and Cox's Find.

Reverse circulation drilling is set to finish early this week, with diamond drilling completed with the remaining core being steadily processed.

Analysis

The key catalysts for KGL in the near term is newsflow, which is set to ramp-up over the next two months following over 10,000 samples having been dispatched to lab and awaiting assay results.

KGL is leveraged to exploration success, considering the company is trading under cash backing.

The company had $0.135 per share in cash at the end of March 2014, and is trading at just $0.098.

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