HIGH GRADE COPPER MINERALISATION INTERSECTED IN DRILLING AT THE PEVERIL PROSPECT, KOONENBERRY BASE METAL PROJECT The Company is pleased to announce that it has intersected significant intervals of high-grade copper mineralisation during its second phase drilling programme at the Koonenberry Base Metal Project, located approximately 100km east of Broken Hill in western New South Wales. Analytical results from the first seven holes drilled during its current drilling programme have been received. Mineralisation was intersected in all seven holes and better results include: Ø 11m at 2.04% Cu and 6.30 g/t Ag from 52m Ø 5m at 2.28% Cu and 5.28 g/t Ag from 225m Ø 5m at 2.02% Cu and 5.94 g/t Ag from 66m Ø 4m at 2.12% Cu and 3.40 g/t Ag from 130m Ø 4m at 1.51% Cu and 3.62 g/t Ag from 148m Ø 3m at 1.41% Cu and 3.53 g/t Ag from 106m All seven holes were drilled at the recently discovered Peveril Prospect, located two kilometres along strike from the Grasmere Copper Deposit. All holes were drilled to test for extensions to high-grade copper mineralisation intersected at the Peveril Prospect during the Company’s initial drilling programme in 2005 (7 metres at 5.51% copper from 41 metres). Recent results are very encouraging as they confirm that high-grade copper mineralisation at the Peveril Prospect extends over more than 1,100 metres of strike and remains open at depth and along strike. The Company will now extend its drilling programme to follow up on these encouraging results at the Peveril Prospect. Numerous other targets are also being evaluated during the current drilling programme, including further testing of the strike and depth extensions of the Grasmere Copper Deposit. It is anticipated that this programme will be completed in four to six weeks time.
BLR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
