Hillgrove Resources Limited (ASX:HGO) Reports New High Grade Copper-Gold Drilling Results
Drilling Results
Hillgrove Resources Limited (ASX:HGO) reported multiple high-grade copper-gold intersections from ongoing underground drilling at Nugent. The drilling extended copper-gold mineralisation down to 380 metres below the historic open pit, remaining open down plunge. Notable results include 8.4 m at 1.3% Cu and 0.23 g/t Au from 207.2 m in hole 25KVUG0533 and 26 m at 1.21% Cu and 0.27 g/t Au from 299 m in hole 25KVUG0534. The deepest hole, 25KVUG0532, extends the Nugent mineralisation to 700 mRL and remains open for further testing.
Development Update
Hillgrove is accelerating the development of the Nugent deposit to increase throughput and copper production. The company targets processing the first ore through the mill in the December 2025 quarter.
Executive Comments
CEO and Managing Director Bob Fulker stated, “The results of this extensional drilling program at Nugent are material to the Company as they clearly demonstrate the continuity and depth potential of the Nugent copper-gold mineralisation system. In particular, the deepest of the holes that we drilled to the 700mRL(25KVUG0532), which is 380 metres below the Nugent pit – or 60 metres below the existing 2024 Mineral Resource Estimate and the planned development. These results continue to extend the known depth of the Nugent mineralisation and are pleasingly at grades higher than the global Reserve grade of 0.76%. Results such as these continues to reinforce our confidence in the significant resource growth potential at Nugent and more broadly, Kanmantoo. We are well into the process of accelerating the Nugent development and look forward to bringing this deposit into production later in the year.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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