Chinalco Yunnan Copper Resources has completed drilling the vertical diamond drill hole to a total depth of 896.98 metres at its Mary Kathleen Joint Venture project in Queensland with initial assay results showing significant copper mineralisation.
Results for the first 506 metres showed 49 metres at 0.80% copper and 0.06 grams per tonne of gold from 231 metres including 22 metres at 1.24% copper and 0.10 grams per tonne of gold from 232 metres.
The metallurgical test hole was designed primarily for metallurgical testwork to obtain samples to measure copper and gold recovery rates within the 27.7 million tonnes Elaine copper-gold inferred resource.
The assays confirm the significant sulphide mineralisation zone identified and targeted for testwork sampling.
A total of 1,066.10 metres was drilled in two holes. Drilling will now start on further new targets in the Mount Frosty joint venture area adjacent to Elaine prospect in the first quarter of 2013.
The company will now undertake a EH4 survey targeting the 12 kilometre strike length of the Mary Kathleen Shear Zone. An EH4 survey is a passive American designed deep penetrating magnetotellurics/electromagnetics geophysical method capable of reading to 1.2 kilometres.
The main focus will be to identify and develop commercial copper and gold resources within the MKJV leases and the Xstrata Copper Mt Frosty JV area.
Source - Proactive Investors
(www.steelguru.com)
