🕐07.04.10 - 02:27 Uhr
CONFIDENCE GROWS AT CLONCURRY COPPER PROJECT WITH MAIDEN MEASURED RESOURCE
Exco Resources Ltd
ASX Announcement
7th April 2010
CONFIDENCE GROWS AT CLONCURRY COPPER PROJECT WITH MAIDEN MEASURED RESOURCE
- Total resources at the E1 Camp have increased to 48.1Mt @ 0.72% Cu and
0.21g/t Au.
- Confidence has been boosted by conversion of 37% of the previous
Indicated resource at E1 to the Measured category, which comprises 9.2Mt @
0.87 % Cu and 0.25g/t Au
- The Cloncurry Copper Project (CCP) now hosts resources of 55.7Mt @ 0.85%
Cu & 0.22 g/t Au, of which 37.9Mt is classified as Measured or Indicated
- Resource definition at the CCP has now exceeded the Companys interim
targets and provides a robust basis for establishing a sizeable mineable
reserve.
- A Definitive Feasibility Study for the CCP is on track for completion in
late 2010.
Exco Resources (Exco or the Company) Cloncurry Copper Project (CCP)
located in North West Queensland currently comprises four key deposits, the
E1 Camp, the Monakoff group of deposits, Mount Colin and the Great
Australia Deposit (see Figures 1, 2 and 3 and Table 1).
The main focus of
recent drilling campaigns and resource modelling has been the E1 Camp,
which now contains approximately 75% of the contained copper within the
CCP.
E1 CAMP
Detailed geological logging and modelling of the E1 deposits has now been
completed based on currently available information (see Figure 2).
The
updated data has added to the confidence in the resources and allowed
9.17Mt to be classified as Measured.
The Indicated and Measured resources at the E1 Camp now total 34Mt
containing 257,000t of copper.
This equates to 74% of the contained copper
within the E1 resource being classified as Indicated or better.
The E1 resource estimate has been completed by the Company, using the
ordinary kriging interpolation method in Surpac within geologically and
geochemically defined units.
The drilling has been completed on a nominal
25x50m grid in the core of the deposit and 50x50m at depth and along
strike.
The resource has been extrapolated by half the drill spacing past
the last drill hole for each of the host units.
The company has had the
resource reviewed by Runge Pty Ltd and it was found to be in accordance
with the JORC code and therefore suitable for release.
CCP RESOURCES
Total resources for the CCP now comprise 55.7Mt @ 0.85% Cu & 0.22 g/t Au of
which 37.9 Mt @ 0.86% Cu & 0.22 g/t Au has been classified as Indicated or
Measured (see Table 1).
The Companys revised interim goal of over 30 Mt of Indicated resources
within the CCP, as the basis for the Definitive Feasibility Study (DFS),
has therefore now been achieved.
The latest resource upgrades have also increased the Companys confidence
that ongoing work will lead to the definition of a 25-30Mt mineable reserve
as the basis for an operation, centred at the E1 Camp, treating 2.5 to
3Mtpa over a 10-year project life.
CCP FORWARD PROGRAMME
Recent work has led to an increased understanding of the geometry and
continuity of the mineralisation at the E1 Camp (see Figure 2).
As part of
the DFS for the CCP, this work will be incorporated into the design of the
proposed open pits and project infrastructure.
Additional work is also underway including;
Further geological and structural modeling with a view to maximising
resource potential and
further conversion of resources to the Indicated and Measured categories
Prioritisation of additional targets for future drilling
Metallurgical optimisation
Engineering design
Liaison with the relevant authorities in pursuit of the necessary project
approvals for the CCP.
Further results and information will be provided as they become available.
To view the announcement in full please click on this link.
http://esp.gewru.com/download/files/12414/1130465/Confidence%20grows%20at%20Cloncurry%20Copper%20Project%20with%20Maiden%20Measure.pdf
For further information, please contact:
On behalf of the Board of Exco Resources Ltd
Michael Anderson
Exco Resources Limited
Managing Director
Tel: +61 (0) 8 9211 2000
Media Enquiries:
James Harris
Professional Public Relations
Tel: + 61 (0) 8 9388 0944
---------------------------------------------------------------------------
This email was sent by James Harris, PPR (WA) Pty Ltd, Level 1, 588 Hay
Street, Subiaco WA 6008 Western Australia to
Unsubscribe:
http://esp.gewru.com/forms/u/ff1a405/12414/1784989590.html
---------------------------------------------------------------------------
Products & Services | Jobs
|