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KGL ups Jervois project's grades, contained copper resources

KGL Resources Ltd. on May 18 released an updated mineral resource estimate for its Jervois copper project in Australia's Northern Territory, unveiling a 43% improvement in grades and an 18% increase in the project's total contained copper resources, including copper associated with lead/zinc resources.

The project is now estimated to host total indicated and inferred resources of 25.2 million tonnes grading 1.53% copper and 29.2 g/t of silver for 384,800 tonnes of contained copper and 23.6 million ounces of silver. While the new figures for grades and contained metal improved over 2015 estimates, tonnage stood 17% lower due to the cutoff grade being doubled to 1% for resources assumed to be accessible by underground mining.

In 2015, the project was estimated to host total indicated and inferred resources of 30.5 million tonnes at 1.07% copper and 23 g/t of silver for 327,000 tonnes of contained copper and 22.6 million ounces of silver.

KGL said work at the Jervois project over the last two years has focused on improving copper resources at the Rockface and Reward deposits, and the new estimates included discoveries at Rockface for the first time, accounting for over 90,000 tonnes of contained copper.