Exco Resources Limited (ASX:EXS) High Grade Mt Colin Resource Adds To Cloncurry Copper Project
Perth, Mar 4, 2010 AEST (ABN Newswire) - Exco Resources Limited (
ASX:EXS) (PINK:EXRSF) high grade Mt Colin Deposit is located approximately half way between Mt Isa and Cloncurry). Although relatively modest in size, it is expected that the deposit could add significant high grade ore to the early years of the mining schedule at the Cloncurry Copper Project (CCP). As a result the Mt Colin Deposit has been incorporated into the scope of the CCP.
The known deposit is approximately 450m long and dips steeply to the north east extending approximately 300m down dip. Further drilling is planned to test for mineable extensions to the mineralisation.
Importantly the deposit is located on a granted mining licence. In fact, historical mining from both underground and open pit has highlighted the consistent and high grade nature of the deposit.
An updated resource model has led to an increase in overall tonnage with the deposit now estimated to contain 1.49Mt @ 2.47% Cu (at a 1.25% Cu cut-off). An Indicated resource (0.62Mt @ 3.14% Cu) has been drilled on an approximately 40 x 40 m grid, with wider spaced drilling, at depth and along strike, being classified as Inferred.
Mt Colin Deposit Resource Estimate 1.25% Cu cut-off ---------------------------------------------------Class Type Tonnes Grade Metal Cu% Cu T-------------------------------------------- Indicated 620,000 3.14 19,500 Inferred 870,000 2.01 7,500Total All 1,490,000 2.47 37,000--------------------------------------------
A conceptual mine design has been completed, which suggests that material above ~1.2% Cu could be extracted through a relatively simple underground mine using up hole benching mining methods from the top down.
As soon as the mining study is completed for the Mt Colin Deposit, a revised financial model for the expanded CCP will be developed.
FORWARD PROGRAMME
Completion of the mining study for Mt Colin is considered a priority as it has the potential to add significant value to the expanded CCP.
In anticipation of a positive outcome to the study, additional drilling, geotechnical studies, hydro-geological studies and environmental studies have been planned at Mt Colin. This will include drilling of ~2500m of RC and ~ 2500m of Diamond core. This drilling will commence as soon the weather permits.
For the complete Exco Resources ASX Announcement including Tables & Figures, please click the link below:
http://www.abnnewswire.net/media/en/docs/62394-ASX-EXS-482676.pdf
Contact
Michael Anderson
Managing Director
Phone: +61-8-9211-2000
Eamon Byrne
Company Secretary
Phone: +61-8-9211-2000
| ||
|
