HGO eyes expanded Kanmantoo copper resource
Deepest drill hole intersected 2.4m at 0.9% copper and 0.04g/t gold
Resource definition drilling has also intersected multiple positive results
Drilling continuing with the goal of growing the resource base
Special Report: Hillgrove Resources has found copper mineralisation outside the existing resource while drilling at its Kanmantoo operations in South Australia.
The company is undertaking 20,000m of resource extension drilling and 40,000m of resource definition drilling with the aim of growing the resource of 19.3Mt at 0.77% copper and 0.14g/t gold.
Drilling at the 750 diamond drill site at Kavanagh - the deepest underground drill site at the project – intercepted 2.4m at 0.9% copper and 0.04g/t gold (uncut) from 238.6m downhole in hole 25KVUG0597.
In addition to this, with the resource definition drilling, there were multiple positive results, which included:
13m at 2.24% Cu and 0.13g/t Au (uncut) from 109m downhole;
2m at 1.19% Cu and 0.17g/t Au (uncut) from 108m downhole;
4.1m at 0.9% Cu and 0.06g/t Au (uncut) from 82m downhole; and
9m at 0.79% Cu and 0.28g/t Au (uncut) from 196m downhole.
Hillgrove Resources (ASX:HGO) said finding this mineralisation outside the resource estimate highlighted the continuity of the Kavanagh ore body.
As 25KVUG0597 provided the deepest intersection at Kavanagh West, being 200m below the existing stoping area, it indicates a new vertical extension target.
Drilling from underground is on track to achieve the 60,000m target, with 5,931.6m completed in May from the fulltime operation of three underground diamond rigs.
Watch: New top mining metrics for Kanmantoo copper
Looking to grow the resource base
Hillgrove will continue drilling in the coming months focused on investigating the potential to grow the resource base and enhance the long-term outlook at Kanmantoo.
'We are still in the early stages of the drilling program at the Kavanagh 750 diamond drill site but I'm encouraged by the results so far,' CEO and managing director Bob Fulker said.
'These are the first holes drilled in this area since underground development began and they not only reaffirm our confidence in the existing resource but also include several intersections with grades exceeding the current average in the published mineral resource estimate.
'One particularly positive result comes from hole 25KVUG0597, which intersected mineralisation approximately 200 metres below the current Kavanagh West stoping horizon on the 785 level.
'Although the intersection is narrow, it represents the deepest mineralised hit recorded at Kavanagh West to date.
'This opens up a new vertical extension target with the potential to expand the mineral resource estimate if this trend continues.'
An updated resource estimate will be released in Q4 2025 following a mid-year data close off window.
This article was developed in collaboration with Hillgrove Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AU Financial Review
8 hours ago
- AU Financial Review
Global edtech Keypath to sell APAC arm; appoints sell-side adviser
Remember Keypath Education, the ASX-listed edtech that was taken private by Chicago--based private equity firm Sterling Partners in September? Just 10 months later, Street Talk can reveal Sterling has brought in the bankers to help find a buyer for the $25 million-a-year Australia and Asia-Pacific arm of the business.
The Age
8 hours ago
- The Age
Board should consider clawing back childcare CEO bonus, shareholders say
The board of the ASX-listed childcare provider that employed an accused sexual abuser has been criticised for lacking 'sufficient expertise' to oversee child safety, with shareholder advisers questioning the CEO's multimillion-dollar pay packet amid rising reputational and financial challenges. Roughly $120 million has been wiped off the market capitalisation of G8 Education in the two days since confidence in the childcare sector was rocked by allegations that Joshua Dale Brown committed multiple child sexual abuse offences while working at a range of early education facilities across Victoria, including at G8's Creative Garden Point Cook, from 2017 until this May. The revelations have so far led to a wave of snap reforms in Victoria to apply greater pressure on childcare providers to oversee staff, including a mandatory ban on mobile phones, and triggered calls for a national register of staff to more clearly communicate issues with specific workers across jurisdictions. Scrutiny on the role of for-profit operators has also sharpened, with advocates questioning the governance of for-profit companies such as ASX-listed G8 and private equity-backed operators like Affinity. On Thursday, the Australian Shareholders' Association raised concerns about G8's board, which includes former CEO of Fantastic Furniture Debra Singh as chair, as well as Peter Trimble, former chief financial officer of fallen childcare major player ABC Learning, and Toni Thornton, a founding director of the private childcare enterprise Habitat Early Learning. 'While early childhood education providers carry a significant responsibility to ensure the safety and wellbeing of children, it is ultimately the board's duty to oversee risk, ensure accountability, and uphold effective governance structures,' Australian Shareholders' Association CEO Rachel Waterhouse said. Waterhouse said the board's composition 'continues to lack sufficient expertise in early childhood education and child development'.
Courier-Mail
8 hours ago
- Courier-Mail
G8 Education crashes after Joshua Brown allegations
Don't miss out on the headlines from Breaking News. Followed categories will be added to My News. The company that operates the Point Cook childcare centre at the heart of Victoria's alleged child sex abuse horror is crashing in value, losing some $120m in the market since Tuesday. G8 Education, a listed company on the ASX, has declined some 16 per cent since Tuesday's revelation that Joshua Brown, a childcare worker at the company's Creative Garden Point Cook centre, allegedly sexually abused eight children aged from five months to two years. The decline has wiped out about $120m in market value as investors flee the company. On Thursday, investment bank Macquarie downgraded its 12-month price target for the stock to $1.15 from $1.53, citing the Point Cook incident. G8 slumped 7 per cent across the day and traded for just $1 at 3.30pm for a market capitalisation of some $765m. In a statement from Tuesday, the company acknowledged that a 'former G8 Education team member' had been charged with offences involving children. 'The current charges against the former team member are in relation to offences involving children at Creative Garden Point Cook only,' the company said. Stock in G8 Education has fallen 15 per cent since Tuesday. Picture: Supplied 'These allegations are serious in nature and are extremely distressing. 'We are focused on supporting all those impacted not just at our centres but across the community. 'Aligned with G8 Education's commitment to child safety and protection, during the former team member's employment, all required employment and background checks, including working with children checks, were current in accordance with legal and regulatory requirements … we are co-operating fully with Victoria Police, the Victorian government and other relevant authorities as part of the investigation.' The company added that it had 'no tolerance' for behaviour that compromised the safety or wellbeing of children. 'As this is now a legal matter, we are unable to comment further on the specifics of the case,' the company said. G8 operates more than 400 centres across the country. For the 2024 calendar year, the company reported $1.021bn in revenues and net profits of $67.7m. G8 has struggled across 2025, even before this week's dramatic tumble. Year-to-date, shares in the company are down about 25 per cent. Alleged child sex abuser Joshua Brown worked at a G8 Education centre. Picture Supplied., Police have charged Michael Simon Wilson with raping a teenage boy. Picture: Supplied On Tuesday, Victorian Police revealed they had charged Mr Brown, 26, with 70 offences after he allegedly abused eight children at the centre. It is alleged some children were as young as five months. A widespread investigation has now been launched, with Victoria's chief health officer saying 1200 children have been recommended to undergo infectious diseases testing. Mr Brown was arrested on May 12 and is due to appear at Melbourne Magistrates Court on September 15. Police allege Mr Brown worked at 20 centres across the state between January 2017 and May 2025. A second man known to Mr Brown, Michael Simon Wilson, has also been charged with child sex offences. On Wednesday afternoon, Victorian Police revealed Mr Wilson was a 36-year-old man from Hoppers Crossing. He has been charged with raping a teenage boy, possessing child abuse material, and bestiality. Federal Education Minister Jason Clare has pledged urgent reform in the wake of Tuesday's allegations. Picture: NewsWire / Nikki Short Mr Wilson's alleged offences are not believed to involve childcare centres or any of Mr Brown's alleged victims. The allegations against Mr Brown and Mr Wilson have rocked the country. Education Minister Jason Clare, speaking on Wednesday, promised urgent reforms into child safety, including cutting off funding for centres that fail to meet minimum standards. He also flagged changes to background checks for workers. 'It's taken too long to do the work necessary to make sure that our Working with Children Check system is up to scratch,' he said. 'In too many examples, a perpetrator is eventually caught and arrested and sentenced, there's somebody that got a Working with Children Check because they had no prior criminal record,' he said. Originally published as Stock in G8 Education declines 15 per cent on Joshua Brown allegations
