The first results to come back since Georgian Mining Corporation (LN:GEO) released a maiden resource on its 50%-owned Kvemo Bolnisi project in Georgia have continued to impress.

Near-surface intercepts were recorded from the first three drill holes of a three-phase resource development drilling programme at Kvemo Bolnisi, with the latest intercepts from KED011 and KED008.

The former delivered the best hit of 113.7m grading 1.7% Cu from 18.4m, which included a 47.6m section grading 2.81% Cu from the top portion of the broader mineralised length; and 16.2m grading 2.2% Cu from further down hole. The latter returned 28.6m grading 1.6% Cu and 0.8g/t Au from 47.4m.

These results will build on an inferred resource released last month of 947,000 tonnes at an average grade of 0.93% Cu and 0.15g/t Au. When integrated, these recent results were expected to deliver a “material increase” in those first-pass numbers.

Georgian is awaiting the assay results on a further 17 drill holes. There are multiple targets yet to be tested at depth and along strike.

The 20-hole, 10,000m programme is focused on delineating an initial 3-5 million tonne near-surface copper-gold resource with a gold-oxide cap that could be brought into production relatively quickly. The company plans to use nearby processing facilities, at least in the first instance.

Georgian managing director Greg Kuenzel described the latest results as “excellent”.


Created from mining-journal.com