Hillgrove Resources Limited ('Hillgrove', 'the Company') (ASX:HGO) is pleased to provide the following drilling update at its Kanmantoo Copper Mine located at Kanmantoo, 55 kilometres southeast of Adelaide in South Australia.
Hole 25KVUG0532 extends the Nugent mineralisation to the 700m RL. This represents the new deepest Nugent intersection 80m below the results released in ASX release on 24 March 2025 titled New High-Grade Copper-Gold Intersections Extend Mineralisation at Nugent which included drilling results to 820mRL. The drilling of the Nugent lode has continued to identify the lode geometry by targeting the lode extremities, identifying the lode plunge and internal geometries resulting in drill holes with no significant intersection returned. Current results are consistent with the hypothesis that the Nugent Mineralisation occurs as pods along the Nugent structural corridor. Hole 25KVUG0533 was stopped earlier than design as a result of the ground water flow rate which impacted drilling conditions.
Commenting on the drilling results, Hillgrove CEO and Managing Director, Bob Fulker said: 'The results of this extensional drilling program at Nugent are material to the Company as they clearly demonstrate the continuity and depth potential of the Nugent copper-gold mineralisation system. In particular, the deepest of the holes that we drilled to the 700mRL(25KVUG0532), which is 380 metres below the Nugent pit - or 60 metres below the existing 2024 Mineral Resource Estimate and the planned development. These results continue to extend the known depth of the Nugent mineralisation and are pleasingly at grades higher than the global Reserve grade of 0.76%. Results such as these continues to reinforce our confidence in the significant resource growth potential at Nugent and more broadly, Kanmantoo. We are well into the process of accelerating the Nugent development and look forward to bringing this deposit into production later in the year'
Kanmantoo Mineral Resource Estimate4, also included are previously reported intersections for reference. Drilling is ongoing for both stope definition and Resource expansion drilling along the Nugent copper-gold mineralisation system with the information continuing to provide input into future planning alongside operational requirements for stope and development designs. Drilling from underground is on track to achieve the target of 60,000m including 19,000m of exploration target drilling with 5,045m of diamond drilling completed in April, following the commencement of the third drill rig mid month. Since the previous Mineral Resource Estimate was completed approximately 35,000m has been completed to the end of April. An updated resource estimation will be release in Q4 2025 following a mid year data close off window.
Contact:
Mr Bob Fulker
CEO & Managing Director
Tel: +61 (0)8 7070 1698
Mr Joe Sutanto
Chief Financial Officer & Company Secretary
Tel: +61 (0)8 7070 1698
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