KBL Mining expands Red Terror deposit

THE DRILL SERGEANT: KBL Mining (ASX: KBL) has identified additional copper-gold mineralisation via recent diamond drilling undertaken on the Red Terror deposit at the company’s Mineral Hill mine in central New South Wales.

Results from the recent drilling at Red Terror include:

–    7m at 3.3 per cent copper and 0.5 grams per tonne gold (3.6 per cent copper equivalent [CuEq]);

–    15.1m at 4.5 per cent copper and 0.5g/t gold (4.8 per cent CuEq);

–    12m at 3.1 per cent copper and 0.4g/t gold (3.3 per cent CuEq);

–    4.2m at 4.5 per cent copper and 0.4g/t gold (4.7 per cent CuEq);

–    4.2m at 5.2 per cent copper and 5.6g/t gold (7.8 per cent CuEq); and

–    17.1m at 0.8 per cent copper and 6.4g/t gold (3.8 per cent CuEq).

 

Underground drilling at Red Terror. Source: Company announcement

 

“The Red Terror deposit continues to grow in size, with this latest set of drill results uncovering new copper-gold mineralisation along strike of the previously defined boundaries,” KBL Mining chief executive officer Trangie Johnston said in the company’s announcement to the Australian Securities Exchange.

“With these new intersections now delineated, we have a better understanding of the scale of the deposit and the significant resource potential it holds.

“The next step involves calculation of a JORC Resource that includes the expanded system.”

KBL said two additional drill holes had expanded the north-south extent of the DDD Lode.

The JORC-compliant Resource for the Red Terror deposit currently only comprises the Southwest Lode.

With expansion of the Red Terror copper-gold system, KBL anticipates a new JORC-compliant Resource estimate will be calculated over the next month.

This will include the Central and DDD Red Terror lodes.

The company said it considers scope exists for further exploration upside at Red Terror as the underground copper-gold deposit remains open along strike and at depth towards the east.