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KGL Resources: Jervois project awarded major project status

KGL Resources Ltd. said March 29 that the government of Australia's Northern Territory awarded major project status to the company's Jervois copper-silver-gold project.

The government and the company signed a project facilitation agreement, under which the parties are required to work together to advance Jervois' approval process.

KGL's strategy is to increase and upgrade the Jervois resource through exploration before proceeding to project development. Intensive exploration continues at the project's Rockface prospect to support a resource update and to enable the start of preliminary work to assess mining and processing options at Jervois.

The company nearly tripled the project area through the acquisition of the Unca Creek exploration project, which borders Jervois.