Copper Hill Update

  • Revised geological model leading to upgraded resource on schedule
  • Enhanced metallurgical recoveries for higher grade ore
  • Revised capital and operating costs being developed
  • Significant exploration potential identified

Golden Cross Resources Limited (ASX:GCR) is pleased to announce that the management team has completed the geological review of the Copper Hill copper-gold project and the revised resource estimate and Scoping Study for the project are progressing on schedule. The resource estimate by independent consultant James Ridley is well advanced with the results to be released in mid-March while the Scoping Study based on a 2-3 Mtpa operation is planned to be completed by mid-April.

Geological Review and Resource Estimate
As reported on 30 January recent detailed geological and structural analysis has improved the understanding of a number of controls on the mineralisation at Copper Hill. These include;

  • A strong grid NW structural orientation which controls the bulk of the low to medium grade (0.2 – 0.3% Cu) mineralisation outside the high grade zones
  • Grid north IV south high grade zones which were mined in the past
  • A weaker, but still material grid NE trending set of structures, also hosting historical workings
  • 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. The main Copper Hill zone extends over a strike length of at least 400 metres and widths of 100 – 200 metres and to depths of up to 300 metres. It is outlined by the 0.3% Cu outline or wireframe (see Figure 1). In addition, steeply plunging “pipe-like” high grade zones are present at Buckley’s Hill and south of Copper Hill. The plunge of these zones is consistent with the intersection of the N-S and NW structures.
  • 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.

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