re: Ann: High Grade Cu Au Intersection at Gre... A recap of the...

re: Ann: High Grade Cu Au Intersection at Gre... A recap of the high grade results so far

GM12RC006 the hole which kicked it all off
72m at 2.4% Cu + 0.92g/t Au (including 16m at 6.5% Cu + 2.3 g/t Au)

Stock went up 400%+ from under 3c to almost 10c


GM12RCD-10 the first diamond drill hole completed at Greenmount
18m at 5.7% Cu + 2.3g/t Au from 156m depth
Including 3m at 13.1% Cu, 4.9g/t Au from 158m depth

Stock went up 100% from 3c to 6c but faced stiff resistance from stale holders and capital raising sellers also markets weren't as receptive to base metal results

GM12DH-07 second diamond drill hole
17m at 1.5% Cu + 0.84g/t Au + 0.36% Co
6m at 3% Cu + 1.55 g/t Au + 0.6% Co
7m at 1.5% Cu 0.65 g/t Au + 0.05% Co
6m at 2.6% Cu + 0.9g/t Au + 0.13% Co
14m at 1.53% Cu + 0.82 g/t Au + 0.12%Co

Those Colbat hits will add significant value to the project


and to put Greenmount in perspective it is part of the White Range Project
which is located in the Copper mining district of North Queensland around CDU

"The White Range Project currently has three principle resources Greenmount, Kuridala and Young Australian which contain 180,000t of Cu and 165,000oz of Au and a number of satellite deposits which contain a further 97,000t of Cu and 38,000oz of Au. The project (excluding the Young Australian resource) was the subject of a Feasibility Study in 2005 by Matrix Metals Limited, which at the prevailing copper price of QMC have identified a number of areas in the 2005 Feasibility Study where it can potentially improve the economics of the project.
The significant increase in metal prices.
Potential to increase the resource base.
Potential to improve the mineable copper grades.
Potential to include gold and possibly cobalt credits to improve the economics. Potential to use processing routes other than just heap leaching."

and just check out our neighbours to understand why I think White Range will get bought off us at some point as feeder Ore by either Ivanhoe, Mt Isa Mining or even the Cloncurry operators
A rinse and repeat of what happened to Exco Resources