PERTH (miningweekly.com) – ASX-listed KGL Resources has reported an 18% increase in copper volumes at its Jervois project, in the Northern Territory, on the back of exploration.
Total contained copper for the total project area has increased by 18%, to 384 800 t, with the overall grade increasing by 43%, to 1.53% copper.
“The updated resource estimates for the Jervois copper project are excellent, and when viewed together with the drilling exploration potential from the wider tenement package, allow KGL to continue to build momentum as it progresses towards key decisions for the development of Jervois as a highly attractive copper project,” said KGL chairperson Denis Wood.
“Contained copper has been increased, and most importantly, we have a resource of significantly higher quality, which the board believe underwrites a robust base case mining scenario now being developed.”
Wood noted that the Rockface prospect, which is estimated at more than 90 000 t of contained copper at grades close to 3% copper, was now included for the first time, along with the high-grade extension at Reward, which is still in the early stages of exploration.
“These new additions to mineralisation more than offset the reductions in the resource estimate caused by applying higher cutoff grades to deeper parts of the mineralisation, and by excluding the low-grade Cox’s Find and Rockface openpit resource estimates,” he added.