| Announcement Date: | 2022-02-14 |
|---|---|
| Announcement Type: | Drilling Results |
| Announcement Code: | JORC |
| Company name: | KGL Resources Ltd. |
| Project name: | Jervois |
| Location: | Australia |
| Commodities: | Gold,Silver,Copper |
| Highlight: | Drilling results incl. 5.15m @ 18.88% Cu, 396.80g/t Ag, 0.42g/t Au from 725.35m |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | KGL Resources Limited (ASX: KGL) (KGL or the Company) is pleased to report that the recent resource development drilling program of the Rockface deposit was successfully completed on 12th December 2021, and that all final assay results have now been received. Work has commenced on an update to the mineral resource model for Rockface and, together with the already finalised Reward and Bellbird resource estimates, will form the basis for revised and optimised feasibility study mine designs. Rockface drill intersections above 1% copper cut off are presented in Table 1 below. Like Reward and Bellbird, Rockface assays broadly confirm the existing mineral resource model and will result in refinements to the geological interpretations. The results also confirm the discovery of a highergrade domain located near the western margin of the Rockface North lode. Figure 1 below shows a longitudinal projection of the lower portion of the Rockface North lode, plotting the positions of the relevant copper intercepts. KGL Managing Director, Mr. Simon Finnis remarked, “The receipt of the final set of assays from Rockface is an important step on the critical path for delivery of the Jervois feasibility study. The results support the overall continuity of the mineralisation and confirm the exciting discovery of a high-grade copper shoot in the west of the deposit. Importantly, the receipt of these assays allows us to immediately move to resource estimation of Rockface which, once completed, will combine with Reward and Bellbird updated resources to inform the mine design, Reserve and feasibility study. |
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