KGL Resources unveils high-grade copper hits at Jervois project and new CEO named
KGL Resources (ASX: KGL) has completed an exceptional news week with the release of high-grade copper intersections at the Jervois Copper project in the Northern Territory and the appointment of a new chief executive officer.
The current Rockface drilling program has been successful in targeting an expansion of the resource at the high-grade deposit, with two holes in particular intersecting strong mineralisation including 5.42m at 1.89% copper, 17.27 grams per tonne silver and 0.27g/t gold.
Most notably, the program at Rockface North Lode has identified significant potential at depth.
Deep potential
Down-hole electromagnetic surveying geophysics, acquired on the deepest holes drilled to date, indicates that conductive mineralisation continues substantially below the current level.
KGL’s focus for the remainder of 2024 at Rockface will be targeting shallow-to-intermediate depths and depth extensions with the goal of expanding the resource and extending the planned mine life of this high-grade deposit.
The company’s re-modelling of gravity and magnetic data in 2023 identified some large anomalies beneath known mineralisation, including one at the southern end of the Jervois field that shows geophysical similarities with the Rockface deposit.
Project-wide plans
The company is currently undertaking project-wide work at Jervois to expand its known resource.
Earlier this week, KGL announced high-grade copper intersections within the upper Marshall and Reward Main Lodes at Jervois.
The five holes from Reward were targeted at the gaps in drilling where the 2024 mineral resource estimate classified blocks as indicated category at the edges of the measured category zone in a proposed open pit.
KGL acquired the Jervois project in 2011 and since that date the company has successfully defined a current JORC Resource of 23.8 million tonnes at 2.02% copper, 0.25g/t gold, and 25.3g/t silver.
Environmental approval was recommended in October 2019 and a mining management plan was approved by the NT government in January 2021.
New CEO named
Back at head office, KGL has appointed experienced mining executive Philip Condon as its new chief executive officer.
Mr Condon was selected to lead the development of the Jervois copper project after working with KGL for the past month as general manager of projects, with responsibility for delivering the company’s updated feasibility study.
He is a senior mining executive with more than 35 years’ experience in the industry across a wide range of commodities and countries.
He has a particularly deep knowledge of the copper industry, having worked at CSA’s Cobar mine, Freeport’s Grasberg copper mine in West Papua and Mawarid Mining Company’s copper project in Oman.
He is particularly known for his underground operational knowledge, which KGL believes will be invaluable in the development of Jervois.