$1.5 million, 5000 metre, Core Drilling Program has commenced

The injection of funds to GCR from its new 19.9% shareholder Heron Resources has enabled GCR to embark on a major new drilling program to discover buried porphyry intrusions and extensions to known mineralisation. The program is based on previous drilling results and recent geological reviews which have provided encouraging new insights into the potential for expanding the Copper Hill and Buckley’s Hill deposits.

The program will run for two to three months and will include in-fill drilling of the high grade central Copper Hill mineralisation between cross-sections 5300N and 5700N at greater depths, to test for extensions to the high grade carapace mineralisation or deeper mineralised porphyry intrusions.
Proposed holes on sections are included in this report.

The first hole has commenced drilling on section 6150N at Buckley’s Hill, which lies 500 metres northwest from Copper Hill. Buckley’s Hill mineralisation appears to be at a different porphyry system level to Copper Hill and may be separated by an east trending fault. Buckley’s Hill maintains higher grades of copper and gold at depth with substantial intersections of 0.4% to 0.6% copper with supporting gold grades of 0.2 g/t to 0.3g/t.

Tonalite porphyry intrusions are exposed in outcrop at Copper Hill. Buckley’s Hill is probably downfaulted relative to Copper Hill and accounts for the higher grades intersected at depth. Down-faulting is consistent with the observed exposures of andesitic country rock and the paucity of outcropping intrusions, noted only on the western side of Buckley’s Hill.

“Open Zone” between GCHR319 and GCHR190 and showing the trace (blue) of the first hole of the new program on cross-section 6150N at Buckley’s Hill and the postulated fault between Copper Hill and Buckley’s Hill.

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