Announcement Date: 2022-01-10
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: KGL Resources Ltd.
Project name: Jervois
Location: Australia
Commodities: Gold,Silver,Copper
Highlight: Updated Resource Estimate for Reward Deposit
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: KGL Resources (ASX:KGL) is pleased to announce an update of the mineral resource estimate for the Reward deposit. The Reward deposit hosts one of the three principal mineral resources which comprise the Jervois Copper Project and has been subject to a significant program of resource-growth drilling during 2021. Mineral resource estimate updates for the other two deposits, Bellbird and Rockface, are underway and together they will underpin feasibility study updated mine plans. Taking into consideration this resource update and the expected updates on Bellbird and Rockface, along with COVID-19 restrictions and industry wide challenges, the Feasibility Study is now scheduled for delivery in mid-2022. Reward Resource Update The mineral resource estimate was completed by experienced and independent consultants, Mining Associates Pty Ltd, and their summary report is included as part of this announcement. The mineral resource estimate incorporated the results from drilling during 2021 along with drilling results from earlier times. The estimate is reported according to the JORC (2012) guidelines. Results When compared to the most recent previous estimate (2020), the Reward mineral resource estimate delivers a 20% increase in contained copper metal, to 244 kt,
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