Copper explorer and developer KGL Resources (ASX:KGL) has discovered a massive sulphide zone with copper grading up to 6.74%, gold up to 8.72 grams per tonne (g/t) and silver up to 454.72 grams per tonne at the Rockface North Lodes in the Northern Territory.
Three holes returned from drilling all found strong copper mineralisation, with a massive sulphide brecciated vein intersected in one hole, with the mineralisation at the down deep margin of Rockface North Lodes.
This intersection contained high-grade copper and gold together with significant grades of zinc, lead and silver, with notable figures including 5.08 metres at 6.74% copper, 330.63 g/t silver, 5.36 g/t gold, 18.41% zinc, 8.42% lead from 1013.05 metres, including 3.66 metres at 8.72% copper, 454.72 g/t silver, 0.83 g/t gold, 25.06% zinc, and 11.60% lead.
High-grade mineralisation was also intersected through infill drilling at the centre of Rockface North Lodes, including 4.16 metres at 2.17% copper, 23.08 g/t silver, and 0.19 g/t gold from 711.82 metres in one hole; and 4.14 metres at 6.14 % copper, 48.26 g/t silver, 0.48 g/t gold from 737.30 metres in another.
Assays are pending on another deep hole completed 36 meters below and to the south-east of the current deepest hole at Rockface, which also intersected mineralisation.
Newly appointed Chief Executive Officer Philip Condon said the results indicated strong potential for exploration in the area.
“The continuation of outstanding high-grade copper drilling results at Rockface Deeps demonstrates the exciting exploration potential at this high-grade deposit, which remains open at depth,” he said.
“Also at the southern end of the Jervois mineralized field, gravity and magnetic data has identified a large geophysical anomaly which may be the source of the high-grade mineralising fluids at Rockface.
“In the second half of 2024, we intend to finalise the inversion study and develop targets to test this large geophysical anomaly.”
KGL has been trading at 10 cents.