KGL Resources confirms Green Parrot Cu-Pb-Zn-Ag-Au

THE DRILL SERGEANT: KGL Resources (ASX: KGL) has kept the market busy this week with further news from the company’s Jervois project in the Northern Territory.

The company followed its earlier announcement regarding drilling results from Cox’s Find to announce more high-grade drilling results, this time from the Green Parrot deposit.

The Green Parrot pit lies south of Marshall‐Reward, the location of the largest currently known Resource at Jervois.

KGL said drilling at the Jervois project has confirmed high-grade copper‐lead‐zinc‐silver‐gold mineralisation at Green Parrot, which has also extended the mineralised zone down dip.

 

Green Parrot cross‐section. Source: Company announcement

 

The latest interval also included the highest ever recorded gold grade at Green Parrot of 25.7 grams per tonne gold.

JOC176
6m at 8.55 per cent copper, 15.08 per cent lead, 10.95 per cent zinc, 679.7g/t silver, 4.87g/t gold from 48 m, including 3m at 12.38 per cent copper, 22.15 per cent lead, 16.78 per cent zinc, 963.3g/t silver, 1.01g/t gold from 49 m

JOC177
6m at 1.68 per cent copper, 4.30 per cent lead, 5.03 per cent zinc, 124.5g/t silver, 0.04g/t gold from 83 m

“These extraordinary intersections confirm the mineralisation at Green Parrot as both high grade and multi‐metal-copper, lead, zinc, silver  and gold, and are close  to the surface, strongly  indicating the potential for open pit mining,” KGL Resources managing director Simon Milroy said in the company’s announcement to the Australian Securities Exchange.

“They follow last month’s announcement of the highest grade copper ever recorded at Jervois along with very high silver (2m at 31.5% copper, 5.96% lead. 1.77% zinc, 1240g/t silver) from Hole JOC062 which lies approximately 100 metres to the north.”

“The results further expand and upgrade the extensive zone of high-grade mineralisation centred on the main Marshall‐Reward deposits and now extending from Morley in the north to Green Parrot in the south.

“These intersections come on top of other recent announcements of further high-grade drilling results to the south along the ‘J‐curve’ Jervois fold and are part of the six kilometre mineralised trend that extends from Bellbird to Reward and Morley.”

KGL explained that previous exploration at Green Parrot identified a number of high‐grade lead‐zinc‐copper resources that were partially mined from an open pit in the 1980’s.

As part of the recent extension drilling program by KGL two RC holes were drilled from the base of the Green Parrot pit to test the main lead‐zinc lens and to extend it down dip.

The two deepest historical holes on this section stopped short of the main lode.

KGL is of the opinion the high-grade mineralisation on this section has only been explored to approximately 60 metres vertically below the surface and considers this lode is still open down dip.

The company has determined to test this in its upcoming drill program.

JOC176 and JOC177 both intersected high-grade massive sulphide that over intervals contains in excess of 50% combined copper‐lead‐ zinc.

The mineralised zone in JOC176 also includes individual results of up to 25.7g/t gold and 1,055g/t silver.

“When you consider over 80 per cent of the historical holes at Green Parrot were not assayed for gold, and in many cases these were also not assayed for silver or zinc, the potential within the known mineralisation is yet to be fully realised,” Milroy said.

“These two holes conclude the results from the phase 2 drill program and we look forward to commencing the phase 3 drill program in September 2014.”

Website: www.kglresources.com.au