Join our daily newsletter At The Bell to receive exclusive market insights
- Hillgrove Resources (HGO) reports “excellent” drill results from the Spitfire copper gold zone in South Australia
- The company saw 12 diamond holes drilled in May, of which nine intersected significant copper-gold of up to 1.72 per cent copper and 0.22 g/t gold
- HGO says the drilling results extend the strike of the Spitfire lode to over 100 metres and proves the system is open at depth
- Since 2019, 122 holes have been drilled, returning 143 intersections of economic grade and width, giving confidence further drilling will result in more positive drill intersections
- Hillgrove Resources last traded at 5.2 cents on August 5
Hillgrove Resources (HGO) has reported “excellent” drill results from the Spitfire copper gold zone in South Australia.
The company saw 12 diamond holes drilled in May for a total of 1311 metres. Of the twelve holes drilled, nine intersected significant copper-gold.
These results, drilled from the underground development at Kanmantoo, included 18.82 metres at 0.95 per cent copper, 0.18 grams of gold per tonne (g/t) from 53.38 metres downhole, and 4.55 metres at 2.55 per cent copper and 0.12 g/t gold from 83.8 metres.
Additional results included 12.55 metres at 1.72 per cent copper and 0.22 g/t gold from 56.45 metres downhole.
Hillgrove CEO and Managing Director Lachlan Wallace said the drilling results extends the strike of the Spitfire lode to over 100 metres and proves the system is open at depth.
“The close spaced drilling enables detailed stope design at Spitfire, which is important as it shores up the mining inventory of one of the areas proposed to be mined early in the underground mine plan,” Lachlan Wallace said.
“The results once again demonstrate the excellent continuity of the mineral systems at Kanmantoo.”
Since 2019, 122 holes have been drilled, returning 143 intersections of economic grade and width. Hillgrove said this gives confidence that further drilling will result in further positive drill intersections, offering the potential to translate into additional resource growth and ultimately, a larger mine life.
Hillgrove Resources last traded at 5.2 cents on August 5.
