Melbourne, Jan 18, 2008 AEST (ABN Newswire) - Copper Strike Limited (ASX: CSE) present the following Audio broadcast following the release of the company's quarterly report.
Quarterly Report Highlights:
- A full feasibility study incorporating all of the Einasleigh Project resources including Einasleigh, Kaiser Bill, Jackson and Chloe and Railway Flat, was started during the quarter and is due for completion in mid 2008.
- An initial, likely open-pittable, Inferred Resource has been calculated at Railway Flat by consulting geologists Hellman & Schofield Pty Ltd:
Inferred Resource at Railway Flat 802,000t at 0.2% Cu, 1.4% Pb, 4.3% Zn & 23 g/t Ag.
Tonnage and grade improve significantly down dip and along strike.
The mineralisation, host rock styles, as well as age, all indicate similarities with the Broken Hill type of deposit.
- Drilling has been progressing at the Jackson Inferred Resource since mid- November, with the objectives of bringing the deposit to Indicated Resource status and delineating extensions. Results to date have been excellent. Similar programmes are planned for the Chloe and Railway Flat Inferred Resources.
- Several excellent new prospects have been identified in the under-explored western regions of the Einasleigh exploration property. High copper (up to 13.5%), lead (up to 8.9%) and silver (up to 1350g/t) in rock chip samples, along with geophysical responses similar to Chloe, are characteristic of these prospect areas.
- A placement and a one for seven rights issue to Copper Strike shareholders raised a total of $9.85 million. This money is being used for drilling and feasibility work.
Audio Webcast Link:
http://abnnewswire.net/lnk/349CV58S
Contact
TEL: +61-3-9640-0955
FAX: +61-3-9642-0698
EMAIL: tom@copperstrike.com.au
WEB: www.copperstrike.com.au
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