Copper Hill Resource Estimate

  • Revised geological model provides upgraded JORC 2012-compliant resource
  • Higher grade (0.4% Cu cut-off) resource of 28Mt at 0.56% Cu and 0.53g/t Au
  • Significant exploration potential for the source mineralised pipe at depth
  • Scoping Study for 2 – 3Mtpa operation on track for mid-April completion

Golden Cross Resources Limited (ASX:GCR) is pleased to announce that further to the release on 5 March 2015 the revised resource estimate for Copper Hill copper-gold
project has been completed and the Scoping Study based on the 28Mt higher grade resource remains on schedule for release by mid-April.
Resource Estimate
Independent resource consultant James Ridley has completed the up-dated JORC 2012- compliant resource estimate for the Copper Hill Project. Importantly this estimate incorporated the recent detailed geological and structural analysis of the 2014 drilling, detailed surface mapping and multi-element analytical data which has delivered an improved understanding of a number of controls on the mineralisation at Copper Hill;

  • Strong grid NW and N-S structural orientations with weaker, but still material, NE fracture set.
  • Structures generally defined by quartz-pyrite dominated veins and fractures.
    opper and gold mineralisation generally occurs as later stage chalcopyrite/pyrite veins within these quartz veins and fractures with significant disseminated style mineralisation also present.
  • A higher grade core to the mineralisation focussed in the areas of greatest structural intensity, especially at the intersection of N-S and NW trending structures. Lower grade ore is generally typified by weaker veined and/or disseminated style mineralisation.
  • Higher gold to copper ratios within the core of the high grade zone with Au:Cu generally around 3:1 (ie; 3g/t Au : 1% Cu) compared with a ratio of 1:1 for the deposit overall.
  • A sub-horizontal 10 – 20 metres thick zone of supergene enrichment centred in the transitional weathering zone 25 – 70 metres below surface.

The combination of these factors has led to an enhanced geological model for the deposit and greater continuity than previously recognised for the higher grade zones. The recognition of preferred structural orientations for the mineralisation enabled drill intercepts which were previously considered “outliers” or “spotty highs” to be incorporated within relatively continuous grid N-S or NW higher grade zones. This in turn provides improved definition of the higher grade mineralisation which is the focus of this resource estimate and the Scoping Study. Figure 1 shows the continuity of the higher grade mineralisation in the current resource model.

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