Base Metals: KGL eyes copper resource upgrade in the NT

High grade drill results are expected to increase the size and quality of known copper resources at KGL Resources’ (ASX:KGL) Jervois copper project in the Northern Territory.

A hole testing the northern perimeter of the Rewards Deep Lode at Jervois returned a significant 12.8m at 3.02 per cent copper, 36.8 grams per tonne (g/t) silver and 0.56g/t gold from a depth of 413.9m and 4.1m at 7.23 per cent copper, 22.1g/t silver and 2.59g/t gold from 445m in the same hole.

These results are expected to contribute to the northward extension of Reward, which currently has a resource of 6.01 million tonnes at 1.77 per cent copper, 29.3g/t silver and 0.37g/t gold.

Meanwhile, drilling to explore fresh mineralised shoots within the Reward Main Lode has intersected continuous copper.

Top results from this area include 27.3m at 1.78 per cent copper, 73.6g/t silver and 0.56g/t gold from a depth of 181.6m, 32.6m at 0.7 per cent copper and 0.31g/t gold from 138.2m and 10.2m at 1.61 per cent copper and 39.9g/t silver from 110.1m.

“These are important results as Jervois approaches project development. Half of the current estimated resource at Jervois is located at Reward,” chairman Dennis Wood said.

“The latest drilling is expected to improve the scale and quality of the known resources and creates options for expanding the proposed open pit mine – both significant factors for the current mine planning.”

“The results also open up the potential for additional mineralisation in under-explored areas.”

In other ASX base metals news today:

St George Mining (ASX:SGQ) continues to extend mineralisation at its Mt Alexander project in the northeastern Goldfields region of WA.

An exploration hole drilled to test the first of seven electromagnetic conductors identified so far by downhole surveys, intersected thick nickel-copper sulphides from a depth of 242.5m to 259.78m.

The company said the disseminated and blebby sulphides in the hole are consistent with mineralisation found close to massive sulphide deposits, which supports the potential for more substantial mineralisation to be present nearby.