KZL 0.00% 12.0¢ kagara ltd

That 126,000 tons of copper metal is basically now a reserves...

  1. 708 Posts.
    That 126,000 tons of copper metal is basically now a reserves estimate considering the price of copper atm.

    Drilling results at Balcooma announced today of....

    [email protected]% copper incl. [email protected]% copper
    [email protected]% copper incl. [email protected]% copper
    [email protected]% copper incl. [email protected]% copper
    [email protected]% copper incl. [email protected]% copper

    ....basically mean that the copper resource will be increased even further.

    With another drill rig being moved to test 4 "wild cat" targets around Balcooma over the next 6-9 months, I'd say its a good bet they'll find more copper. No wonder they bought a stake in Metallica Minerals, which suprise suprise, owns all the land next to Balcooma.

    The second rig will continue to drill the main Balcooma copper deposit (latest results above) which remains open down dip and along strike to the south. Considering the grades above and the apparent continuity of the deposit, there is a ton of copper still there. IMO just Balcooma (and surrounding areas) have the potential to host a billion $ of copper reserves.

    As the poster above states, that's not including the 10 year zinc/lead mine & a probable gold-copper mine at Mungana as well.

    Huge.
 
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