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KGL Resources' Hits Copper In Every Hole Of New Bellbird Drilling

KGL Resources' (ASX:KGL) drilling has returned copper mineralisation in all holes drilled to date on targets identified by a recent survey at its Jervois copper and multi-metal project in the Northern Territory.

Samples have being progressively despatched to the laboratory and results are expected over the next few weeks.

The 10 hole, 3500 metre drilling program is designed to test targets identified by a 3D-Induced Polarisation (3DIP) and magnetotelluric (NYSE:MT) survey in the Bellbird region.

This was designed to search for additional zones of mineralisation in a poorly tested and yet highly prospective zone along the 12 kilometres of mineralised strike length at Jervois.

Four holes have been completed to date targeting a combination of chargeability and conductivity anomalies at Target A, Target X, Target F and at Bellbird East.

The fifth hole is in progress and has also intersected copper mineralisation in reverse circulation drilling, prior to switching to diamond core drilling at 250 metres due to high ground water flows.

KGL recently upgraded the Jervois Resource to 30.5 million tonnes at 1.07% copper and 23g/t silver for 327,000 tonnes of contained copper and 22.6 million ounces of contained silver.

This will form the basis of an optimised PFS expected in October.

Simon Milroy, managing director, commented:

"Targeting the anomalies identified in the recent 3DIP survey is working well so far with all holes intersecting new zones of mineralisation.

"Samples from the drilling are being progressively despatched to the lab so we should start to see the results over the next few weeks."

Analysis

KGL could be on the path to increase the metal inventory at its Jervois Project with all holes drilled to date on targets identified by the recent 3DIP survey intersecting new zones of mineralisation.

Assay results are expected in the coming weeks and drilling of the 10 hole program is continuing, which provides a pipeline of further news flow.

In addition, an optimised Pre-Feasibility Study for the project is expected in October.

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