Golden Cross Resources (ASX:GCR) is a mineral explorer with a copper gold focus. Its major activity is the Copper Hill copper-gold project in central NSW. GCR also has many other high quality projects across Australia as well as prospective joint ventures funded and managed by GCR’s partners.
The Copper Hill project resource contains 535,000 tonnes of copper and 1.47million ounces of gold. The project is ideal for open pit mining with outcropping mineralisation, and the infrastructure (existing and potential) is excellent. Promising extensions to the known deposits are currently being found.
Current drilling efforts are aimed at extending the size and grade of the mineralisation. Metallurgical studies, based on a new strategy, are being undertaken to maximise copper and gold recoveries.
Completion of a Definitive Feasibility Study is planned for the end of 2011 with a Bankable Feasibility Study, acceptable to Chinese or other financiers, now scheduled for mid-2012. When the Definitive Feasibility Study is complete GCR will have more certainty regarding the potential for the project to become an operating mine. Indications to date are promising.