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KGL Resources Ltd.
Summary
| Project: | Jervois | |
|---|---|---|
| Deposit: | Rockface | |
| Location: | Australia | |
| Commodities: | Copper-Lead-Zinc-Silver-Gold | |
| Date: | 2/15/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-2-2018: KGL Resources Ltd. announces an Exploration/Drilling Update report for its Rockface deposit at the Jervois project. Drilling results incl. 17.37m @ 3.59% Cu, 0.01% Pb, 0.03% Zn, 16.1g/t Ag, 0.24g/t Au from 557.83m. KGL Resources Limited (KGL:AS | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Adriaan van Herk (Internal) | |
| ABSTRACT: | KGL Resources Limited (KGL:ASX) (KGL or the Company) announces further high grade copper mineralisation from drilling and assays at the Rockface prospect, located at KGL’s 100% owned Jervois Copper Project in the Northern Territory and a $6.73 million placement. “KGL recommenced exploration late January with two rigs making good progress at both Rockface and Reward. It is encouraging to see mineralisation intersected in the most recent hole in Conductor 8 at a vertical depth of over 800m. “Several holes at Rockface have been designed to test the outer edges of the conductors where lower grade mineralisation is anticipated as we work towards a resource update later this year. “Separately at Reward, along strike 5km north-east of Rockface, additional copper mineralisation has been delineated above Conductor R1 which is not currently in the existing resource. “We are also extremely pleased to have secured a $6.73 million private placement, at a premium price of 40 cents to last closing price as of 14 February of 38 cents and with no fees, that will give us the financial security to complete the 2018 exploration program at the Jervois Copper Project. KGL is pleased to announce the raising of $6.73 million through a placement to an entity related to international mineral resources identity Mr Ernie Thrasher and to KGL’s existing major shareholder KMP Investments Pte Ltd (KMP). | |
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