Hillgrove drilling extends Nugent copper-gold lode system
Drilling at Hillgrove’s Kanmantoo project has returned significant drill results that demonstrated the continuity and endowment of the Nugent copper-gold lode system.
Of the 24 holes drilled, 23 intersected the Nugent system with a top result of 3m at 5.17% copper and 1.27g/t gold from 175m in hole KTDD230.
With the latest holes, Hillgrove Resources (ASX:HGO) has now drilled the Nugent system over a strike length of 280m, confirming economic potential for an additional underground operation utilising the invested capital in the Kavanagh underground operations and Kanmantoo Processing Plant.
Nugent extends over 200m below the previously mined Nugent open pit and remains open at depth and along strike to the southeast.
“The drilling results confirm the Nugent system extends beyond the previous mineral resource estimate both along strike and at depth,” managing director Lachlan Wallace said.
“We are looking forward to getting these drill results into the resource model, which we expect will increase in both size and geological confidence, and then into the mine plan.
“In addition, it was very pleasing to see the strong drilling results at depth and to the south, which remain open and provide excellent opportunities to further increase the mineral inventory.”
Nugent currently has an Indicated and Inferred resource of 659,000t grading 1.32% copper and 0.61g/t gold.
The 2021-22 drilling successfully infilled the drill density across the 2020 Inferred Resources while extending the mineralisation beyond previous limits.
The top hit in KTDD230 is contained within a broader 14.5m intersection grading 1.6% copper and 0.34g/t gold from 175m and is followed by a deeper intersection of 14.8m at 0.87% copper and 0.69g/t gold from 252.2m.
Other notable assays include 16.55m at 1.22% copper and 0.43g/t gold from 229.05m (KTDD224), 9.15m at 1.4% copper and 1.09g/t gold from 289m (KTDD231) and 9.2m at 1.44% copper and 0.81g/t gold from 209m (KTDD215).
Hillgrove will now complete an updated resource estimate for Nugent and undertake an economic evaluation of the lode system and its incorporation into the Kanmantoo mine planning schedule.
This article was developed in collaboration with Hillgrove Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.