THE DRILL SERGEANT: Hillgrove Resources owned up to an error the company made in its recent announcement regarding the maiden Underground Mineral Resource Estimate for the Central and East Kavanagh underground area at the company’s Kanmantoo copper mine in South Australia.
Hillgrove Resources acknowledged that dot point 2 on page 1 of its ASX release of 30 October 2019 is not in accordance with the JORC Code, whereby the reporting of Exploration Targets cannot be streamlined.
As a result, the company was required to re-iterate the Competent Person Statement and the Exploration Target as a range of tonnes and grade as previously provided in its ASX release of 27 May 2017 for the West Kavanagh Exploration Target of:
0.8 to 1.6 million tonnes at 2 per cent to 2.5 per cent copper, 0.01 grams per tonne to 0.05g/t gold, 2g/t to 2.5g/t silver.
The company stressed the Exploration Target is conceptual in nature as there has been insufficient exploration to define a Mineral Resource, adding that it is uncertain if further exploration will result in the determination of a Mineral Resource under the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, the JORC Code” (JORC 2012).
The Exploration Target is not being reported as part of any Mineral Resource or Ore Reserve.