AI assistant
KGL RESOURCES LIMITED — Capital/Financing Update 2009
Nov 15, 2009
65179_rns_2009-11-15_12bcceb9-23dd-4b72-9e14-45896d46fe28.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX / MEDIA RELEASE
16th November 2009
Savoyardy Update
==> picture [89 x 81] intentionally omitted <==
KENTOR GOLD LTD
ACN 082 658 080
Final Assay Results Received for 2009 Savoyardy Drill Programme
Kentor Gold Limited (ASX Code: KGL) (Kentor or the Company) has now received final assay results from diamond holes drilled in the 2009 programme of exploration and infill drilling. The final batch of assay results received confirms the high grade potential of the area of the Rudny Prospect. Preparations are now being finalised for recalculation of the resource using the full set of assay results.
Surface Drilling on Section 1.5
On Section 1.5, diamond drill hole DD52 returned intersections of 2.3m at 5.03g/t from a depth of 43.7 metres down hole and 0.5m at 42.6g/t from a depth of 58.5m.
==> picture [235 x 312] intentionally omitted <==
Surface Drilling on Section 2a
On Section 2a, diamond drill hole DD51 returned the following intersections:
-
2.3m at 4.73g/t from a depth of 36.7m downhole
-
1m at 3.3g/t from a depth of 40m downhole
-
1m at 4.35g/t from a depth of 48m downhole
-
2.3m at 22.53g/t from a depth of 50m downhole
-
1.3m at 28.88g/t from a depth of 83.6m downhole and
-
1m at 29.5g/t from a depth of 90.5m downhole
Registered Office Level 36 Riparian Plaza, 71 Eagle St Brisbane 4000 Phone: 61 (0) 7 3121 3206
Kyrgyz Republic Office 235/2 Erkindik Prospect, Bishkek Kyrgyz Republic 720739 Phone: +996 312 621 389
1
www.kentorgold.com.au
==> picture [364 x 210] intentionally omitted <==
==> picture [364 x 210] intentionally omitted <==
Surface Drilling on Section 2.5
On Section 2.5, diamond drill hole DD46 returned an intersection of 0.7m at 9.86g/t at a depth of 62 metres down hole, DD47 returned an intersection of 0.8m at 5.5g/t at a depth of 45.5 metres down hole, and DD48 returned an intersection of 1m at 10.9g/t at a depth of 40 metres down hole.
2
==> picture [236 x 312] intentionally omitted <==
Surface Drilling on Section 3.5
On Section 3.5, diamond drill hole DD49 returned an intersection of 1m at 4.54g/t at a depth of 62 metres down hole (previously reported), and DD50 returned no significant results.
==> picture [236 x 312] intentionally omitted <==
At Savoyardy, surface and underground diamond drilling commenced in July with the aim of extending and upgrading the existing Resource. Extensive underground access is available
3
from previous exploration work in the 1970 ’ s. Seven holes were drilled from underground and 15 from surface for a total of 1,784 metres.
==> picture [498 x 176] intentionally omitted <==
==> picture [498 x 176] intentionally omitted <==
Commenting on the latest results, Kentor Managing Director, Simon Milroy, said:
“ The 2009 drilling programme at Savoyardy has increased our confidence in the existing resource, and added potential at depth and along strike with some high grade intersections. We anticipate completing a revised resource estimate for the project in December. ”
Background
The Savoyardy Gold Project is located approximately 145 kilometres south-east of the city of Osh in the Kyrgyz Republic. The Savoyardy project is also adjacent to and along strike from the Sawayerdun Project in the Xinjiang Province of China. Majestic Gold Corporation announced a resource of 1.5Moz of gold from the results to date and Canadian listed GobiMin has recently announced its commitment to farm into the project.
Exploration trenches and adits constructed at Savoyardy in the 1970 ’ s show the presence of high grade gold and antimony contained in a number of structures with widths of up to 27m. The mineralised structures can be traced for over 7 kilometres to the south-west along strike where it meets the Savoyardy exploration licence at the Chinese border.
4
Table 1 Significant Intersections (>3m*g/t Au) to date from 2009 Drill
| Programme | Programme | Programme | Programme | Programme | Programme | ||
|---|---|---|---|---|---|---|---|
| SECTION | DRILL HOLE | SMPL | FROM | TO | L | Au.g/t | l.m@ C.g/t |
| 1.5 | SVD_DD_52 | R41477 | 43.70 | 44.00 | 0.30 | 6.65 | 2.3m @ 5.03g/t |
| R41478 | 44.00 | 44.50 | 0.50 | 4.00 | |||
| R41479 | 44.50 | 45.00 | 0.50 | 4.10 | |||
| R41480 | 45.00 | 45.50 | 0.50 | 3.57 | |||
| R41481 | 45.50 | 46.00 | 0.50 | 7.46 | |||
| R41494 | 58.50 | 59.00 | 0.50 | 42.60 | 0.5m@ 42.60g/t | ||
| 2a | SVD_UD_26 | R32132 | 44.00 | 44.70 | 0.70 | 8.89 | 0.7m@ 8.89g/t |
| R32142 | 53.20 | 53.80 | 0.60 | 6.04 | 0.6m@ 6.04g/t | ||
| R32152 | 60.70 | 61.00 | 0.30 | 22.00 | 0.3m@ 22.0g/t | ||
| SVD_UD_27 | R32248 | 70.00 | 70.50 | 0.50 | 3.30 | 3.1m @ 9.83g/t | |
| R32249 | 70.50 | 71.00 | 0.50 | 3.51 | |||
| R32250 | 71.00 | 71.50 | 0.50 | 15.50 | |||
| R32251 | 71.50 | 72.00 | 0.50 | 6.21 | |||
| R32252 | 72.00 | 72.50 | 0.50 | 6.74 | |||
| R32253 | 72.50 | 73.10 | 0.60 | 21.40 | |||
| SVD_DD_51 | R41162 | 36.70 | 37.70 | 1.00 | 5.89 | 2.3m @ 4.73g/t | |
| R41163 | 37.70 | 39.00 | 1.30 | 3.83 | |||
| R41165 | 40.00 | 41.00 | 1.00 | 3.30 | 1.0m@ 3.3g/t | ||
| R41173 | 48.00 | 49.00 | 1.00 | 4.35 | 1.0m@ 4.35g/t | ||
| R41175 | 50.00 | 51.00 | 1.00 | 36.60 | 2.3m @ 22.53g/t | ||
| R41176 | 51.00 | 52.30 | 1.30 | 11.70 | |||
| R41208 | 83.60 | 84.40 | 0.80 | 32.50 | 1.3m @ 28.88g/t | ||
| R41209 | 84.40 | 84.90 | 0.50 | 23.10 | |||
| R41215 | 90.50 | 91.50 | 1.00 | 29.50 | 1.0m@ 29.50g/t | ||
| 2b | SVD_UD_23 | R31875 | 81.80 | 82.80 | 1.00 | 9.53 | 2.95m @ 7.48g/t |
| R31876 | 82.80 | 83.80 | 1.00 | 4.00 | |||
| R31877 | 83.80 | 84.75 | 0.95 | 8.98 | |||
| R31893 | 99.00 | 100.00 | 1.00 | 3.26 | 1.0m@ 3.26g/t | ||
| SVD_UD_24 | R31971 | 48.00 | 49.00 | 1.00 | 9.61 | 1.0m@ 9.61g/t | |
| R31993 | 67.90 | 68.40 | 0.50 | 6.85 | 0.9m @ 11.3g/t | ||
| R31994 | 68.40 | 68.80 | 0.40 | 16.80 | |||
| SVD_UD_25 | R32062 | 67.50 | 68.00 | 0.50 | 10.90 | 2.3m @ 19.73g/t | |
| R32063 | 68.00 | 69.00 | 1.00 | 28.40 | |||
| R32064 | 69.00 | 69.80 | 0.80 | 14.40 | |||
| SVD_UD_48 | R31733 | 44.50 | 45.00 | 0.50 | 10.70 | 1.9m @ 7.05g/t | |
| R31734 | 45.00 | 46.00 | 1.00 | 6.43 | |||
| R31735 | 46.00 | 46.40 | 0.40 | 4.1 | |||
| R31758 | 68.50 | 69.50 | 1.00 | 6.671 | 1.0m@ 6.67g/t | ||
| R31774 | 82.00 | 83.00 | 1.00 | 3.78 | 4.05m @ 5.7g/t | ||
| R31775 | 83.00 | 83.50 | 0.50 | 7.44 | |||
| R31776 | 83.50 | 84.00 | 0.50 | 15.20 | |||
| R31777 | 84.00 | 85.00 | 1.00 | 3.98 | |||
| R31778 | 85.00 | 85.90 | 0.90 | 2.6 | |||
| R31779 | 85.90 | 86.05 | 0.15 | 10.00 | |||
| 2.5 | SVD_DD_46 | R41558 | 62.00 | 62.40 | 0.40 | 4.51 | 0.7m @ 9.86g/t |
| R41559 | 62.40 | 62.70 | 0.30 | 17.00 | |||
| SVD_DD_47 | R41404 | 45.50 | 46.30 | 0.80 | 5.50 | 0.8m@ 5.5g/t | |
| SVD_DD_48 | R41350 | 40.00 | 41.00 | 1.00 | 10.90 | 1.0m@ 10.9g/t | |
| 3.5 | SVD_DD_49 | R41107 | 35.00 | 36.00 | 1.00 | 4.54 | 1.0m@ 4.54g/t |
| SVD_DD_50 | No significant intersection | ||||||
| 4.5 | SVD_DD_32 | R40800 | 34.00 | 35.00 | 1.00 | 8.07 | 1.0m@ 8.07g/t |
| 5 | SVD_DD_39 | R40543 | 18.00 | 19.10 | 1.10 | 3.41 | 1.1m@ 3.41g/t |
| SVD_DD_40 | R40627 | 51.00 | 52.00 | 1.10 | 9.45 | 3.0m @ 16.2g/t | |
| R40628 | 52.00 | 53.20 | 1.20 | 14.70 | |||
| R40629 | 53.20 | 54.00 | 0.80 | 26.80 |
5
Table 1 (continued) Significant Intersections (>3m*g/t Au) to date from 2009 Drill Programme
| SECTION | DRILL HOLE | SMPL | FROM | TO | L | Au.g/t | l.m@ C.g/t |
|---|---|---|---|---|---|---|---|
| 6 | SVD_DD_36 | R40938 | 12.00 | 12.70 | 0.70 | 18.60 | 6.0m @ 9.91g/t |
| R40939 | 12.70 | 14.00 | 1.30 | 3.28 | |||
| R40940 | 14.00 | 15.00 | 1.00 | 2.29 | |||
| R40941 | 15.00 | 16.00 | 1.00 | 10.10 | |||
| R40942 | 16.00 | 17.00 | 1.00 | 18.00 | |||
| R40943 | 17.00 | 18.00 | 1.00 | 11.80 | |||
| R40948 | 22.00 | 23.00 | 1.00 | 5.43 | 1.0m@ 5.43g/t | ||
| SVD_DD_41 | No significant intersection | ||||||
| SVD_DD_42 | No significant intersection | ||||||
| SVD_DD_43 | R41035 | 62.50 | 63.00 | 0.50 | 22.90 | 3.5m @ 9.77g/t | |
| R41036 | 63.00 | 64.00 | 1.00 | 8.22 | |||
| R41037 | 64.00 | 65.00 | 1.00 | 5.44 | |||
| R41038 | 65.00 | 66.00 | 1.00 | 9.07 | |||
| 6.5 | SVD_DD_44 | No significant intersection | |||||
| SVD_DD_45 | No significant intersection |
About Kentor Gold
Kentor Gold Limited (ASX Code: KGL) is an Australian-based company formed in 1998 as a specialist gold explorer. The Company was listed on the Australian Securities Exchange (ASX) in March 2005 and has diversified into exploration for gold, geothermal energy and base metals in Central Asia, where it has highly regarded, established local management.
Kentor is working towards the development of two gold mines in the Kyrgyz Republic:
-
Andash, targeted for production in 2011 at the currently planned rate of 60,000 oz gold and 5,000 tonnes copper per year for eight years - and
-
Savoyardy, proposed to commence in 2010 at the initial rate of 10,000 oz gold per year for a minimum three years subject to final decision later this year - Kentor has an option to purchase 100 per cent of the project.
For further information, visit the Kentor website at www.kentorgold.com.au or contact:
Mr Simon Milroy Managing Director Phone: (07) 3121 3206 or 0448 851575 Email: [email protected]
Mr David Waterhouse Investor Relations Ph (03) 9670 5008
Competent Persons Statement:
The exploration results in this report are based on information compiled by Simon Milroy, who is a member of the Australasian Institute of Mining and Metallurgy and a full time employee of Kentor Gold Limited. Mr. Milroy has sufficient experience which is relevant to the style of the mineralisation and the type of deposit under consideration and to the activity to which he is undertaking, to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Milroy has consented to the inclusion of this information in the form and context in which it appears in this report.
6