Perth, May 20, 2009 (ABN Newswire) - Exco Resources Limited (ASX:EXS)(PINK:EXRSF) announce The Cloncurry Copper Project, located approximately 40km north east of the town of Cloncurry, includes both exploration and mining leases, and a resource base of in excess of 51Mt at 0.84% copper and 0.23g/t gold. The centre of gravity for the project is the E1 Camp located 8km east of the existing Ernest Henry Mine owned by Xstrata, in a region well serviced by infrastructure.
REGIONAL SIGNIFICANCE & UPDATE ON APPROVALS PROCESS
The Department of Infrastructure and Planning (DIP) in Queensland has decided that Exco's Cloncurry Copper Project (CCP) is a "project of regional significance" for the purposes of the Water Resource (Great Artesian Basin) Plan 2006 (GAB Plan). This decision will be taken into consideration when assessing Exco's application for an allocation of water from the State reserve.
Exco welcomes the DIP's decision, which represents an important milestone as the Company continues to progress its Environmental Impact Statement (EIS) for the CCP, in pursuit of the relevant approvals for the project.
The Company is focused on expediting the approvals process, which remains on the critical path for the project. Submission of the Environmental Impact Statement is expected during the current calendar quarter (Q2/2009).
DEFINTIVE FEASIBILITY STUDY UPDATE
Significant progress has been made in defining and quantifying the metallurgical characteristics of the ore through the completion of a major testwork programme. Engineering details required for the environmental submissions have been completed including pit designs, detailed ground water assessments, tailings designs etc.
The CCP Pre-Feasibility Study (PFS) contemplated the establishment of a =2Mtpa concentrator facility at the E1 Camp. However, recent increases in resource and contained metal inventories from the E1 Camp fully support the Company's focus on a slightly larger operation treating 2.5 to 3Mtpa over a 10-year project life. At this expanded throughput the project will produce approximately 25,000 tonnes of copper (in concentrate) per annum; 25% more than envisaged by the PFS.
Further results and information will be provided as they become available.
About Exco Resources Limited
Exco is an Australian focused ASX-listed mining company (ASX:EXS)(PINK:EXRSF) with a dual focus on developing both the White Dam Gold Project in South Australia, and the Cloncurry Copper Project (CCP) in north-west Queensland. In addition, the Company has renewed its exploration efforts at the highly prospective Hazel Creek Project, also in north-west Queensland.
Contact
Michael Anderson Managing Director Tel: +61-8-9211-2000 Fax: +61-8-9211-2001 Email: .info@excoresources.com.au Web: www.excoresources.com.au
Exco Resources Limited
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