Kimberley Metals Limited (ASX:KBL) Announce 2011 Exceptional Drilling Results at Sorby Hills
Sydney, Sep 28, 2011 AEST (ABN Newswire) - Kimberley Metals Limited (
ASX:KBL) is pleased to announce initial results from a 6,000m reverse circulation drilling program currently underway at the Sorby Hills Project, near Kununurra in the East Kimberley region of Western Australia. Sorby Hills is the largest undeveloped silver-lead deposit at open cut depth in Australia and is jointly owned by Kimberley Metals Ltd (75%) and China's largest lead and silver smelter, Henan Yuguang Gold and Lead Company Ltd (25%).
The drilling program was designed predominantly to upgrade and extend the D-E Deposit (formerly known as D & E Pods) but also support an ongoing pre-feasibility study with sterilisation drill holes in areas of proposed mining infrastructure.
To date results have been received for the initial 24 holes drilled in the program of 111 holes, focused on the south and central portions of the D-E Deposit. The results have returned some exceptionally high grade intersections including but not limited to 11 metres at 18.5% Pb and 164 g/t Ag in hole KSHRC010, 12 metres at 18.1% Pb and 168 g/t Ag in hole KSHRC018, and 15 metres at 12.7% Pb and 114 g/t Ag in hole KSHRC014.
The Company is highly encouraged by the initial results and is confident that the drilling program will lead to a significant conversion of Inferred to Indicated Resource category and an upgrade in metal content for the D-E Deposit. Drilling is ongoing and a large number of additional assay results are still pending, with visual logging and field portable XRF results indicating further high grade silver and lead mineralisation.
D-E Deposit is open down dip to the east and likely to merge along strike with F Deposit to the north.
Kimberley's current strategy is to focus on shallow high grade mineralisation (<70m deep) amenable to low cost open pit mining operations in C-D-E deposits.
A recently completed detailed gravity program along the mineralised corridor outlines the structural/lithological controls on mineralisation. In particular, mineralisation appears to follow the flanks of gravity highs and highlights a number of new targets previously untested by drilling and outside of current Resources.
Kimberley Executive Chairman Mr Jim Wall said today "The high grade and shallow nature of the mineralisation at the D-E Deposit provides an ideal location for initial low cost, high margin mining operations at Sorby Hills from 2013."
For the complete Kimberley Metals announcement including figures and tables, please refer to the following link:
http://media.abnnewswire.net/media/en/docs/ASX-KBL-558804.pdf
About KBL Mining Ltd
KBL Mining Ltd (ASX:KBL) is an Australian resource Company listed on the ASX with a focus on producing precious and base metals. KBL's main assets include the Mineral Hill copper-gold-silver-lead-zinc mine near Condobolin in New South Wales and Sorby Hills lead-silver-zinc project in Western Australia. The Company has been operating the refurbished processing plant at Mineral Hill since October 2011 to produce copper-gold concentrates and in 2013 commenced producing a separate lead-silver concentrate. Sorby Hills (KBL holds 75% with Henan Yuguang Gold & Lead Co. Ltd (HYG&L) holding 25%) is a large near surface undeveloped silver-lead deposit close to port infrastructure and a short distance from Asian markets.
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