Announcement Date: 2022-03-07
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 Rockface 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 high-grade Rockface deposit. The Rockface 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- consolidation drilling during 2021. This Rockface update follows the updated mineral resource estimate update for Reward that was announced on 10 January 2022 and for Bellbird on 27 January 2022. Rockface 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 previous years. The estimate is reported according to the JORC (2012) guidelines. Results When compared to the most recent previous estimate (2020), the Rockface indicated and inferred mineral resource estimate delivers a 4% increase in contained copper metal, to 108.3 kt (from 104.3 kt), and a 7%increase in resource tonnes to 3.53 Mt (from 3.29 Mt). Copper grade is reported at 3.07% and represents a drop of 3% (from 3.17% Cu).
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