Golden Cross Resources September 2011 Quarterly Report

HIGHLIGHTS

Copper Hill

  • Preliminary capital cost estimate studies well advanced
  • Mill and Plant Scoping Study with preliminary detailed plans prepared
  • Geological Resource: New resource estimate underway
  • Metallurgical studies for Mill and Plant throughput options continuing
  • Four core holes for 756 metres and 15 RC holes for 1,122 metres

Other Projects

  • Drilling at Cargo planned for October
  • Drilling planned to test Gawler Craton magnetic-gravity anomalies
  • Canbelego – Rosevale: new airborne magnetic survey results are encouraging

Copper Hill
Brisbane-based engineering firm, Calder Maloney Pty Limited, has been retained to complete a Scoping Study of the proposed 2 million tonne per annum mining and mill throughput plan.
The study is very comprehensive and at quarter’s end included a complete equipment list, design criteria and mass balance for the mill and plant flowsheet. A detailed high voltage distribution network for the concentrate plant, mine service area, bore fields and tailings water return has been designed.

Over 50% of the capital cost of the process plant and site infrastructure will be attributable to the crushing, grinding and flotation process to recover copper and gold in concentrate for sale.
A project capital cost estimate is anticipated in the December Quarter.
Following completion of the latest round of drilling, a new Copper Hill geological resource will be estimated and announced in the December Quarter.

Copper Hill – Metallurgy
The current metallurgical test work progress has slowed somewhat as a result of laboratory testing and analytical backlogs but advances continue to be made.
Extensive testing over a range of parameters for the various ore types includes milling parameters, flotation circuit configurations and reagent suites all of which require evaluation to ensure an optimum economic outcome.

 

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