Kanmantoo offering Hillgrove more upside

PERTH (miningweekly.com) – Copper/gold miner Hillgrove Resources has earmarked a number of organic growth opportunities which it will assess later in 2017, including an opportunity for near-mine growth at its Kanmantoo mine, in South Australia.

An exploration target of between five-million and ten-million tonnes, with a targeted grade of between 1.7% copper and 2.2% copper and 0.4 g/t gold and 1 g/t gold, containing between 80 000 t and 160 000 t of copper and between 60 000 oz and 120 000 oz of gold has been set at Kanmantoo.

Hillgrove noted that the exploration target suggested the potential for very significant underground resource opportunities at Kanmantoo beneath and in the wall of the existing final pit, with the target zones all commencing within 250 m of the existing in-pit haul road, which Hillgrove pointed out would result in minimal capital expenditure, should drilling confirm the resource.

The company told shareholders that drill testing of the exploration target will likely start in the last quarter of 2017, depending on the required funding being available. The initial objective of the drilling would be to confirm the depth continuity of the Central, East, and West Kavanagh zones, representing some 50% of the exploration target value.