KBL to beef up Iron Duke exploration
Published 19-AUG-2016 14:43 P.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
KBL Mining (ASX:KBL) has renewed its ‘Iron Duke’ project, and revealed additional exploration work is on the menu for the satellite deposit.
The copper-gold deposit comprising 494,000 tonnes at 1.5% copper and 0.8 grams per tonne gold is about 50km north east of KBL’s flagship Mineral Hill project.
KBL is eyeing up processing rock from the Iron Duke deposit through the existing upgraded production facility at Mineral Hill.
It was granted a three year extension on the Iron Duke license from the NSW government – meaning its tenements now cover about 330 sq.km.
The deposit itself is a steeply east dipping, mineralised envelope which is characterised by a quartz-sulphide stock work up to 15m wide and extending over 550m in strike.
KBL told shareholders, however, that exploration on the permit has solely focused on the deposit – but with the permit extension in the bag it said that it would now move to explore the southern extent of the permit.
It said that a trend on the southern edge of the permit has had no previous exploration, but there are historical workings on the site.
Based on the early stage of KBL’s entrance into the southern edge, investors looking at this stock for their portfolio should take a cautious approach to their investment decision and not base their decision solely on this development.
The workings extend over 2km, with historical record suggesting that there could just be an Iron Duke-like system of mineralisation on the cards.
Earlier this week KBL announced that it had produced its 60th gold bar at Mineral Hill, having produced its first gold bar in January this year from the state of the art Mineral Hill carbon-in-leach (CIL) circuit.
The Mineral Hill CIL is capable of generating saleable bullion from the treatment of float tails, re-treatment of gold tails and treatment of oxide ores.
By broadening its production profile, KBL has managed to create operational flexibility and reduce overall risk.
“The enhanced treatment flexibility of the Mineral Hill plant will allow the company to maximise mill feed options while optimising processing for future ore sources,” KBL managing director Greg Starr said at the time.
“This adaptability is crucial for continued growth and sustained production while also highlighting amenability to toll treatment opportunities”.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.