Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Explorer KGL Resources has netted environmental approval from the Northern Territory Government for its flagship Jervois Copper Project
  • The project was bought for full interest in 2011 and is estimated to hold 25.2 million tonnes of copper, silver, gold, lead, and zinc
  • KGL still has a handful of approvals ahead of it before it can kick off production, however, estimate drillings and upgrades will continue on site
  • Shares in KGL Resources are unchanged on the Australian market today, flat at 24 cents apiece in a $68.63 million market cap

Explorer KGL Resources has today secured environmental approval from the Northern Territory Government for its Jervois Copper project.

The flagship project, purchased by the company for full interest in 2011, was estimated last year to hold 25.2 million tonnes of ore showing copper, silver, gold, lead, and zinc.

Today the company updated shareholders that the NT Government completed its environmental impact assessment of the project, allowing for KGL to proceed on site.

“This is a satisfying conclusion to the thorough assessment process and is the last major regulatory step before final government approval of the Mine Management Plan for the development of the Jervois Project,” Chairman Denis Wood said.

Denis was appointed as acting Chairman to the company late in 2015.

“The company is now firmly focussed on completing all preliminary processes to enable mine construction to start in the second quarter of 2020,” he continued.

Most recent assessments of the project indicated 384,800 tonnes of copper and 23.6 million ounces showing the remaining mixture of gold, lead, silver, and zinc.

“Currently, sterilisation drilling is being finalised, to ensure planned infrastructure is located away from any mineralised areas,” Denis said.

“Other site planning is also under way in parallel with the mine plan, including the provision of power, the water pipeline, the mineral process plant and the village.”

Denis stated the company is looking forward to a completed mine management plan in early 2020, which will warrant further approvals from the NT Government.

Intensive drilling will continue at Jervois while site improvements are undertaken. The company hopes the drilling to continue upgrading estimated resources on site.

“Once that is concluded, a substantial geotechnical drilling program will be undertaken to allow the mine planners to complete detailed planning and costing of the mining processes,” Denis concluded.

Shares in KGL Resources are unchanged on the Australian market today, flat at 24 cents apiece in a $68.63 million market cap.

KGL by the numbers
More From The Market Herald
The Market Herald Video

" Orange may be the new gold

One of the latest explorers to head to the ASX is Perth-based Orange Minerals with listing anticipated as soon as next week.
Pan Asia Metals (ASX:PAM) - Managing Director, Paul Lock

" Pan Asia Metals (ASX:PAM) announces latest drilling results from Reung Kiet lithium project, Thailand

Pan Asia Metals (PAM) has released lithium drill results for four holes from its Reung Kiet project in southern Thailand.
Vango Mining (ASX:VAN) - Executive Chairman, Bruce McInnes

" Vango Mining (ASX:VAN) unveils further gold intersections at Marymia

Vango Mining (VAN) has unveiled further gold intersections from an ongoing open-pit drilling campaign at its Marymia Gold Project in the mid-west region

" Pursuit Minerals (ASX:PUR) gets final assays from Phil’s Hill

Pursuit Minerals (PUR) has confirmed a silver sulphide mineralising system at its Phil’s Hill prospect in Western Australia following receipt of the final