KGL Resources (ASX:KGL) has received the first batch of drill results from a Phase I drill program at the Bellbird zone of the Jervois copper-gold project in the Northern Territory, Australia. Of interest is hole 26 which yielded the intercept containing 5 meters at 3.9% copper, 11 g/t silver and 0.9g/t gold. It’s important to emphasize drilling was conducted on a 80 X 50 meter grid which should be sufficient to support an inferred resource estimate should KGL decide to compile one.
Not only has the continuity of the mineralization been confirmed between Bellbird and Bellbird North, KGL also discovered a new copper-lead-zinc mineralized zone to the east of Bellbird (and trending in a North-NorthWest direction). KGL went back to Bellbird for a Phase II drill program which will consist of five holes, and we expect to see additional assay results at the end of this quarter or early in Q3.
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Disclosure: The author holds no position in KGL Resources. Please see our disclaimer for current positions.
