Livewire Exploration Watch
KGL Resources has reported drilling outcomes, including an intersection of 10.5 metres at 8.76% Cu and 42.9 g/t Ag from 478.4 metres down hole, from a program of deep exploration targeting a series of stacked electromagnetic conductors at the Jervois prospect in the Northern Territory. The current exploration effort recognises the potential for an extensive massive sulphide system at depth. Tap Oil and its exploration partners completed the Driftwood-1 well located offshore in the Carnarvon Basin within WA320-P. The well was water wet with no hydrocarbons in the primary and secondary objectives. The commitment well was the sole exploration target planned by the company for 2016-2017. Carnarvon Petroleum has reported that the ROC-2 exploration well within the WA-437-P exploration permit in the North West Shelf in which the company has a 20% interest is approaching a primary target. Whether the target formations are hydrocarbon bearing will be known in early to mid September with the information helping to assess earlier drilling results at Roc-1.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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