Yes they are very good results, with drilling still underway and a large number of assays, yet to be received.
The good news I see is:
Close-spaced drilling indicates that the King Vol probable Ore Reserve will host a significant tonnage of very high-grade zinc mineralisation associated with the Eastern Zone Mineralisation Replacement (EZMR) and the Eastern Zone Mineralisation Contact (EZMC) (Figures 1 and 2).
The current phase of the drilling program (above) is scheduled for completion in late December FY11 and the Mineral Resource will be updated to incorporate the latest data.
Deeper drilling of the deposit has indicated that the same style of mineralisation is present at depth. The drill-out of King Vol Deeps to upgrade the current Inferred Resource of 1.9 million tonnes at 14% zinc and 0.8% copper to Indicated status is budgeted for Q4FY12.
In addition to the EZMC and the EZMR, the King Vol deposit has several other significant zones of mineralisation.
KZL Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
