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KGL Resources' Shares Rally On High Grade Copper Results

KGL Resources' (ASX:KGL) shares are a three-bagger this month, with the stock soaring to $0.315 by the close yesterday, with the stock trading under $0.10 during the first week of July.

Driving the share price has been a string of impressive drilling results from the high-grade copper from the Jervois project in the Northern Territory.

Yesterday Bellbird delivered: 13 metres at 5.75% copper, 23.2g/t silver, 0.32g/t gold from 20 metres, including 3 metres at 11.55% copper, 55.7g/t silver, 0.52g/t gold.

Last week Green Parrot results: 18 metres at 4.92% copper, 1.54% lead, 0.75% zinc, 240.5g/t silver, 0.14g/t gold from 10 metres, including 2 metres at 31.5% copper, 5.96% lead, 1.77% zinc, 1,240g/t silver, 0.07g/t gold.

The near-surface results suggest the prospects of being amenable to open pit mining are good.

Results to come

There are still assays from around 60 holes pending.

Analysis

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

Key catalysts in the near term following on from the final exploration results include a resource upgrade expected in August with a PFS in September.

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