KGL Resources has updated its mineral resource estimate (MRE) for the Jervois copper project in the Northern Territory, marking a key milestone for the project.
The updated MRE follows an extensive 2024 drilling program that added 4.1 million tonnes (Mt) to the underground resource, increasing it by 26.4 per cent.
Contained copper at the project now exceeds half a million tonnes, with silver and gold resources also seeing notable gains.
“The program has helped add 4.1Mt to the underground resource and increase the contained copper at the project to over half a million tonnes, representing a major milestone in the development of the Jervois project,” KGL Resources chief executive officer Philip Condon said.
Jervois’ total mineral resource has grown by 17.4 per cent, rising from 23.37Mt to 27.45Mt.
This includes a 14.7 per cent increase in contained silver (to 22.4Moz) and an 11.3 per cent rise in contained gold (to 215,000oz).
The 2024 drilling program, comprising 75 holes totalling 23,037m, focused on the high-grade Rockface and Reward deposits.
Adjustments to cut-off grades for underground resources from one per cent to 0.8 per cent also contributed to the uplift, enhancing the project’s economic potential.
“These improved inputs will inform the updated mine plan before delivering the updated feasibility study,” Condon said.
The Jervois project stands as a key player in the NT mining landscape, with its copper, gold, and silver resources poised to support global energy transition demands.
KGL continues to advance exploration efforts, targeting near-surface deposits for potential open-cut mining, with an updated feasibility study to incorporate new resource figures.
The company anticipates completing an independent technical review to finalise the study and optimise project economics.
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