535,000 tonnes of copper and 1.4 million ounces of gold in
173 million tonnes at 0.31 percent copper and 0.26 grams per tonne gold
Outcropping – Open Pit Planned – Railway to Site – Water Sites Identified – Molong Support – Proximity to Power – Feasibility Study Underway – More Exploration
Golden Cross Resources today announced a 30% increase in resource tonnes at its 100%-owned Copper Hill porphyry copper-gold deposit, near Molong in central New South Wales.
Managing Director, Mr Kim Stanton-Cook, is very pleased with the result pointing out that “…this outcome provides further support for the development of an open pit mine at Copper Hill. Construction and mining will create over 300 new jobs and will result in substantial economic benefits for Molong township and the Central West.”
The resource estimate follows several months of drilling, data compilation and verification and finally estimations by consultants Hellman & Schofield.
Mr Stanton-Cook went on to say “The project is progressing well. The feasibility study is continuing in China and Stage 1 is due for completion in early 2011. This will set out all the milling and processing plant requirements and capital cost estimates. Provided all goes well with our continuing project studies, a bankable feasibility document is anticipated in early 2012.
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