Exco Resources Limited (ASX:EXS) Confidence Grows At Cloncurry Copper Project With Maiden Measured Resource
Perth, April 7, 2010 AEST (ABN Newswire) - Exco Resources Limited (
ASX:EXS) (PINK:EXRSF) Cloncurry Copper Project ('CCP') located in North West Queensland currently comprises four key deposits, the E1 Camp, the Monakoff group of deposits, Mount Colin and the Great Australia Deposit. The main focus of recent drilling campaigns and resource modelling has been the E1 Camp, which now contains approximately 75% of the contained copper within the CCP.
E1 CAMP
Detailed geological logging and modelling of the E1 deposits has now been completed based on currently available information. The updated data has added to the confidence in the resources and allowed 9.17Mt to be classified as Measured.
-------------------------------------------------------------Deposit Class Tonnes Grade Metal ------------------------------- Cu% Au g/t Cu T Au Oz------------------------------------------------------------- Measured 9.17Mt 0.87 0.25 80,000 75,000E1 Camp Indicated 24.7Mt 0.71 0.21 177,000 165,000 Inferred 14.2Mt 0.64 0.2 91,000 90,000------------------------------------------------------------- TOTAL 48.1Mt 0.72 0.21 348,000 330,000-------------------------------------------------------------
The Indicated and Measured resources at the E1 Camp now total 34Mt containing 257,000t of copper. This equates to 74% of the contained copper within the E1 resource being classified as Indicated or better.
The E1 resource estimate has been completed by the Company, using the ordinary kriging interpolation method in Surpac within geologically and geochemically defined units. The drilling has been completed on a nominal 25x50m grid in the core of the deposit and 50x50m at depth and along strike. The resource has been extrapolated by half the drill spacing past the last drill hole for each of the host units. The company has had the resource reviewed by Runge Pty Ltd and it was found to be in accordance with the JORC code and therefore suitable for release.
CCP RESOURCES
Total resources for the CCP now comprise 55.7Mt @ 0.85% Cu & 0.22 g/t Au of which 37.9 Mt @ 0.86% Cu & 0.22 g/t Au has been classified as Indicated or Measured.
The Company's revised interim goal of over 30 Mt of Indicated resources within the CCP, as the basis for the Definitive Feasibility Study (DFS), has therefore now been achieved.
The latest resource upgrades have also increased the Company's confidence that ongoing work will lead to the definition of a 25-30Mt mineable reserve as the basis for an operation, centred at the E1 Camp, treating 2.5 to 3Mtpa over a 10-year project life.
CCP FORWARD PROGRAMME
Recent work has led to an increased understanding of the geometry and continuity of the mineralisation at the E1 Camp. As part of the DFS for the CCP, this work will be incorporated into the design of the proposed open pits and project infrastructure.
Additional work is also underway including;
- Further geological and structural modeling with a view to maximising resource potential and further conversion of resources to the Indicated and Measured categories
- Prioritisation of additional targets for future drilling
- Metallurgical optimisation
- Engineering design
- Liaison with the relevant authorities in pursuit of the necessary project approvals for the CCP.
Further results and information will be provided as they become available.
For the complete Exco Resources announcement, please click the link below:
http://www.abnnewswire.net/media/en/docs/62564-ASX-EXS-486376.pdf
Contact
Michael Anderson
Managing Director
Exco Resources Limited
Phone: +61-8-9211-2000
| ||
|
