Hillgrove Resources (ASX:HGO) said that ongoing underground diamond drilling at the Nugent lode at its Kanmantoo Copper Mine in South Australia showed continuity of copper-gold mineralization, according to a Monday Australian bourse filing.
Significant intercepts include 21.4 meters at 1.79% grade of copper and 0.65 grams per tonne grade of gold from 184.5 meters downhole, as well as 5.5 meters at 1.2% grade of copper and 0.35 g/t gold from 267 meters downhole.
The Nugent lode is being fast-tracked into production with the first ore targeted to be processed through the mill in the December quarter.
Its shares fell 5% in recent trading on Monday.
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