| Announcement Date: | 2022-03-23 |
|---|---|
| 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 combined Jervois project. This estimate, unlike the previous estimate released in 2020, does not include the 2014 Reward South resources estimate as the Reward South deposit is not part of the Jervois project production schedule for the Feasibility Study. This Jervois mineral resource estimate combines the updated estimates for Reward (announced on 10 January 2022), Bellbird (announced on 27 January 2022) and Rockface (announced on 7 March 2022). Appended to this announcement is the long-form mineral resource report from Mining Associates Pty Ltd. The estimate is reported according to the JORC (2012) guidelines. When compared to the most recent previous estimate (2020)1, the Jervois indicated and inferred mineral resource estimate delivers a 14% increase in contained copper metal to 465.6 kt (from 410.0 kt), and a 20% increase in resource tonnes to 22.87 Mt (from 19.07 Mt). Copper grade is reported at 2.04% and represents a 5% drop from 2.15% Cu. Figure 1 shows the progression of copper results from the past four Jervois mineral resource estimates (Reward, Bellbird and Rockface deposits only). |
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