KBL confirms new copper-gold at Mineral Hill

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THE DRILL SERGEANT: KBL Mining (ASX:KBL) has received further drilling results that it claims to confirm a new copper-gold lode directly below the current development level of its underground mining operations at Mineral Hill Mine in New South Wales.

The latest results come from an ongoing underground diamond drilling program the company is conducting with the aim of extending mining reserves below the lowest development level at 1190mRL (120 metres from surface).

The new results include:

–    3.75 metres at 7.3 per cent copper and 2 grams per tonne gold; and

–    4.45m at 8 per cent copper and 3g/t gold.

These follow previously released results that included:

–    16.1m at 3.8 per cent copper and 9g/t gold.

The company said it previously considered the Parkers Hill ore body at Mineral Hill Mine, which is currently being mined, to be restricted at depth by a shallowly west east dipping 1225 thrust.

However, it know considers the latest results to have established that the new copper-gold lode continues more than 30 metres below the current development level at 1190mRL and remains open along strike to the northeast and southwest.

This has been interpreted as a separate gold-rich style of copper mineralisation located below the 1225 thrust compared to the copper-silver rich (plus lead and zinc) Parkers Hill Resources.

 

Cross section showing the location of significant mineralised intervals. Source: Company announcement

 

“The high copper and gold grades of these intersections, directly below current mining operations, add substantial value to Mineral Hill,” KBL Mining chief executive officer Trangie Johnston said in the company’s announcement to the Australian Securities Exchange.

“Accessing this new lode is possible using current equipment and personnel at minimal additional cost and quickly.

“These results also highlight the high copper and gold prospectivity of Mineral Hill at depth.”

The on-going drilling program is aimed at depth extensions and strike extensions to the southwest.

KBL said it considers the continuity of mineralisation to the south of the recent drill intersections to be highly likely with grades of plus 10 per cent copper and plus 20g/t gold already identified from sampling in the southernmost development drive on 1190mRL.

An initial Resource will be estimated for the copper-gold lodes after completion of the drilling program.