flying horse boost for copperco

Flying Horse boost for CopperCo

Rebecca Lawson
Tuesday, 18 September 2007

COPPERCO's Flying Horse prospect, as part of its wider Lady Annie copper project, has received a 75% boost to its resource estimate and 400m extensions to the resource model.




The company handed down an updated measured, indicated and inferred mineral resource for the prospect at 7.2 million tonnes at 0.7% copper for a contained 51,800 tonnes.

The estimate uses a 0.2% copper cut-off and includes oxide and sulphide content.

Previously the contained copper resource figure was 29,500t.

CopperCo said the new estimate increases the previous Flying Horse resource model by 400m to the northwest from the previous optimised pit outline, with mineralisation remaining open in a north-westerly direction.

"Potential for further increase is clearly evident," CopperCo said.

The Flying Horse resource boost has also boosted the overall Lady Annie resource estimate by 8% to 33Mt at 0.8% copper for 294,000t of contained copper.

CopperCo is planning further drill programs to evaluate bit additional oxide and deeper chalcocite mineralisation potential.

A second diamond drill rig is being sourced to start deeper chalcocite evaluation at Flying Horse later this week.

The company is expecting first production of copper from Lady Annie shortly. The project will initially produce 19,000 tonnes per annum with a view to ramp up to 25,000tpa by mid 2008.