Good quarterly report out yesterday from GCR. Outlined resource at Copper Hill that was released during the quarter that increased the resource at Copper Hill by twenty (20) times.
The resource at Copper Hill now stands at 105 Mt at 1.09 g/t gold equivalent. Much more drilling to follow -- 15,000m new drilling program and new resource due out in August. Recent drilling interseted 406m from 11m at 0.29% copper and 0.43 g/t gold or 1.1 g/t gold equivalent.
Copper Hill also has an excellent location for development -- very close to rail line and power.
Company says major companies are interested in the Copper Hill project.
JV signed with Inco at Broken Hill.
The company hopes to get more than $1 million from its Mt Boppy royalty during 2006/2007.
GCR with a current market cap of $20-24 million makes for very attractive buying. The company says that its Adelong project alone could generate around $17 million in profits from gold production.
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