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Kanmantoo Underground operation

Hillgrove Resources (ASX:HGO) is developing the Kanmantoo Underground in South Australia which is a permitted near-term, low capital intensive copper / gold mine positioned to take advantage of rising copper prices. Drilling to date in 2021 confirms that the copper mineralisation extends from the base of the open pit to at least 500m and remains open at depth and along strike. Drilling continues into the second half of 2021 to follow up on the excellent intersections, including 170.65m @ 1.01%Cu, 0.11 g/t Au, with the aim of extending the mine life and increasing annual production ahead of planned recommencement of mining in 2022. The existing 3.6Mtpa processing plant and operational tailings storage facility are being maintained in a ready restart condition which facilitates a relatively fast, low capital pathway to first copper production from the Underground. In addition, Hillgrove offers an exploration pipeline within 10km of the existing infrastructure which enables relatively fast and low-cost conversion from exploration to cash flow, and is exploring larger scale porphyry opportunities in an area regarded as one of the most prospective porphyry regions in Australia. With a relatively low market cap and exploration drilling continuing to expand the resource footprint, Hillgrove’s low capital, near term, low risk copper mining opportunity presents a unique value proposition in a bullish copper market. www.hillgroveresources.com.au