KBL to beef up Iron Duke exploration
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”.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (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 only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.