KBL Mining to find its thrill on Mineral Hill

Published at Jul 29, 2016, in Mining

Promising gold play KBL Mining (ASX:KBL) will start drilling at Mineral Hill in NSW at the end of August – hoping to find what others have ignored.

It told its shareholders today that it would start drilling at the prospective Pearse corridor – initially through RAB drilling.

Drilling in the past has found deposits in this corridor based on soil anomalies, and further drilling leading to the discovery of the deposits.

There has been little to no exploration done between the known deposits at the project, however, KBL said.

KBL will start with the RAB dirlling, which will drill into bedrock at the area with the aim of finding ‘pathfinder’ elements.

Should these elements be found, KBL will peg areas for future reverse circulation drilling.

The Pearse North deposit has a combined proven and probable ore reserve of 179,000 tonnes at 2.5 grams per tonne gold, and 21g/t silver.

Investors should note that mineral exploration is inherently risky and there is no guarantee of success – see a professional before deciding whether or not to invest in KBL.

About KBL and Mineral Hill

KBL’s flagship project in the Mineral Hill project in the centre of NSW.

The project includes several deposits, including the Pearse which is producing, and the Pearse North deposit which is next on the slate for development.

Prospective targets include the Jack’s Hut, and the A,B, G, and H lodes within the Southern Ore Zone.

A map of deposits in the area

A map of deposits in the area

During the first quarter of 2016, KBL’s Mineral Hill operation produced 9,209oz of gold and 111,826oz of silver, with gold production up 95% and silver 226% from the previous quarter.

KBL’s deposits and targets are all within close proximity to the company’s 100% owned CIL and floatation production plant which has recently received over $30 million worth of upgrades, allowing it to process various ore types and improve recovery rates by over 50%.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). 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.

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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.

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