HGO 0.00% 5.4¢ hillgrove resources limited

Underground Exploration Targets

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    As a prelude to the release of the December quarter report here's recap from September:
    "The Exploration Target comprises nine different underground opportunities (see figure below) and the first of the targets able to be exploited is the Nugent Target, below the Nugent Open Pit mined by the Company in 2015. The Nugent Target is within 180m of the existing Giant Open Pit Haul Road, and provides an early opportunity to source additional higher grade copper-gold ore for processing whilst the open pit is in operation. To assess the economic feasibility of an underground operation at Nugent various studies are in progress including, preliminary resource estimate, geotechnical studies, conceptual underground mine design, drill plans and metallurgical test work studies. The results of these various studies will be presented as results are affirmed."
    Nugent is thought to hold 0.8-2.0MT with 1.5-2.5% Cu/1.5-2.5g/t Au or 2.5-3.5% Cu equivalent. That could be as much as 50,000 to 70,000 tonnes of copper from the first target.
    We will know by Wednesday.
 
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