"Even after 270,000m of drilling we have only scratched the surface at Rocklands with dozens of remaining targets and hundreds of thousands of metres to be drilled along strike and below the already discovered ore bodies and other identified zones of mineralisation at Rocklands. I think that people need to understand that on an exploration program of this size, it is not a case of calculating a resource as you go along; it is a case of completing the drilling first in areas of known mineralisation, and then commencing the calculations for a resource. Finally I would like to advise all shareholders that the CuDeco story has only just begun. In addition to the vast array of discoveries already at Rocklands, the search is now on for additional high grade Las Minerale sized discoveries. In addition, the Company has reported the possibility of a large scale IOCG (Iron Oxide, Copper, Gold) mineralised system at depth. For example, the Wilgar Prospect in the northern part of the Rocklands Tenement is giving us the right signals, from drilling results, types and style of minerals and combined with the results from the geophysical gravity survey, of a possible large scale IOCG mineralised system at depth, as reported in a release to the ASX on 26th March, 2010. Our upcoming resource estimate, I am sure, will only be the first of many more to come at Rocklands as we continue to prove up this highly mineralised area of the Queensland Copper Mineral Fields. The Company anticipates grant of the mining lease over the Rocklands EPM, within the next 3-6 months and, subject to that grant, anticipates commencement of production in the 1st half of 2012. Yours faithfully Wayne McCrae Chairman"
What's that warm fuzzy feeling I am getting?
CDU Price at posting:
$3.32 Sentiment: LT Buy Disclosure: Held
