KZL have spent a lot more than loose change on Admiral bay, it was costing them $1 million per hole to drill. They have proved up 72m tons, i cant remember how many holes they sunk but i think it was a lot.
This is from KZL Website: A highly successful A$35 million exploration program was completed in early 2008, producing some spectacular intersections and confirming a continuous lead-zinc-silver-barite mineralised zone over a strike length of 2.1 kilometres and likely to extend over at least 18 kilometres. In August 2008 the Company unveiled a maiden Inferred resource for the Admiral Bay deposit of 72 million tonnes grading 3.1% Zinc, 2.9% Lead, 18g/t Silver and 20% Barite.
KZL Price at posting:
15.0¢ Sentiment: None Disclosure: Held
