When many companies are drilling hoping to hit something worthwhile, Kagara finds even more minerals than they expected nearly every time they drill a hole.
KAGARA ZINC LIMITED 2002-08-12 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ Kagara is pleased to announce an update of drilling currently underway at the Surveyor and Dry River South deposits.
SURVEYOR
Drilling at Surveyor has been confined to the extremities of the deposit to define final pit boundaries prior to commencement of mining activities. SD127 was drilled into the southern end of Surveyor in an area previously interpreted to be narrow (2m @ 17% zinc) which limited the depth of the open pit. DS127 is located at 6985N, 1295E and returned a significant result of 13.6m @ 32.2% Zn, 11.7% Pb, 0.7% Cu, 234 g/t Ag and 1.2 g/t Au.
DRY RIVER SOUTH
Drilling at Dry River South has intersected strong mineralisation in the six holes drilled to date. The aim of the program is to define the limits of the high grade central portion of the deposit.
The current programme of eight holes will be completed within two weeks at which stage a new resource will be calculated prior to final mine design. Kagara has results for only two holes of the six holes drilled however it is expected that the overall grade will increase above the current resource grade of 11.9% zinc.
Results to date confirm Kagara's view that the Dry River South deposit may be as important as Surveyor in terms of economic value.
This drilling also increases the likelihood that Dry River South may be the next deposit mined after the Surveyor open pit.
J Treacy TECHNICAL DIRECTOR
KZL currently has the brighest future of any Australian miner in my opinion.
Dave R.
KZL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
