- Jervois Mining (JRV) has announced plans to restart drilling at its Kilembe Area properties in Western Uganda
- The company will drill up to 1000 metres to test a high-grade copper rock chip target and a gold-in-soil anomaly
- The rock chip target remains undrilled and is believed to contain some of the highest-grade surface gold samples at the project
- Jervois had to temporarily suspend all activities in Uganda in March due to strict COVID-19 prevention measures
- However, as these measures are gradually getting lifted, the company has applied for final environmental approvals to complete drilling
- Jervois is up a slight 3.45 per cent on the market and shares are trading for 15 cents each
Jervois Mining (JRV) has announced plans to restart drilling at its Kilembe Area properties in Western Uganda.
The Kilembe Area properties are made up of five exploration licences covering a total area of 708 square kilometres.
Four of these licences are roughly 25 kilometres north and south of the formerly producing Kilembe mine which produced 16 million tonnes of ore grading two per cent copper and 0.17 per cent cobalt from 1956 to 1977.
For this restarted drilling program, Jervois is planning to undertake 1000 metres of core drilling to test a high-grade copper-gold rock chip target and a gold-in-soil anomaly.
The rock chip target remains undrilled and is believed to contain some of the highest-grade surface gold samples at the project to date.
Jervois had to temporarily suspend all activities in Uganda in March due to strict COVID-19 prevention measures.
As these measures are gradually getting lifted, the company has applied for final environmental approvals so drilling can be completed.
Results will be available within three months from arrival of the drill rigs.
Despite COVID-19, Jervois remains in a strong financial position with balance sheet flexibility and strong liquidity. It also has cash reserves to keep operations running for more than 12 months.
The company is also finalising the Bankable Feasibility Study for its Idaho Cobalt Operations in the United States.
Jervois is up a slight 3.45 per cent on the market and shares are trading for 15 cents each at 1:34 pm AEST.