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KGL Resources ups Jervois copper project resource estimate

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KGL Resources ups Jervois copper project resource estimate

KGL Resources Ltd. said Aug. 22 that the total copper resource for its Jervois copper project in Northern Territory, Australia, now stands at 26.6 million tonnes at 1.47% copper and 24.7 g/t silver, up from the May 2018 estimate of 25.2 million tonnes.

The new estimate contains 390,600 tonnes of copper and 21.1 million ounces of silver, including indicated resources of 255,000 tonnes of contained copper and 12.7 million ounces of contained silver.

Total resource estimates for the Reward underground deposits stand at 6.01 million tonnes grading 1.77% copper and 29.3 g/t silver at a cutoff of 1% copper.

For the Rockface underground deposits, the total resource estimates stand at 4.48 million tonnes grading 2.17% copper and 12.8 g/t silver at a cutoff of 1% copper. The updated resource is based on drilling across 143 holes for 65,927 meters done since 2016.

In February, KGL Resources said it would raise A$6.5 million to advance Jervois.