can it break 55 this time, page-3

re: *** brilliant chart *** Hi SP, I compare the situation with the security risk of TYC in Pakistan with PNA in Laos.

PNA has followed OXR in its footsteps and because OXR has been running a copper/gold mine succesfully without problems for the last couple of years, the market does not see a risk in PNA trying to do the same thing.

This is dispite the fact that LAOS has been seen as an other country that was regarded as a high risk investment for foreign mining companies.

TYC is now the PNA, but in Balochistan, Pakistan, where we have the Sadiak copper/gold mine operating by a Chinese mining company for a couple of years also without troubles.
I see the Sadiak mine as the OXR and TYC following in its footsteps. The only different is that the Sadiak mine is much closer in distance to TYC then PNA is to OXR.

I have shares in both PNA and TYC


jojo


the following article comes from Kitco metals




Tethyan: Action In Pakistan

Drilling At Reko Diq


International base metals group Tethyan Copper Company Limited yesterday announced the launch of a major exploration drilling programme at its Reko Diq Copper Project in Pakistan and provided an update on the Bankable Feasibility Study of the H4 Copper Project.

The commencement of drilling follows a month-long break in drilling activities for maintenance and staff leave purposes, after the intensive 26,000 metre drilling programme completed during 2004.

Tethyan's Managing Director, David Moore, said that two dual-purpose (RC and Diamond) rigs had commenced drilling late last week. "Drilling at Reko Diq is underway again and we are moving forward on an ambitious exploration and resource drilling programme" Mr Moore said.

The new drilling programme is designed to upgrade a number of known porphyry systems to resource status, with a target of adding between 200 and 500 million tonnes to the Company's resource base. The first round of drilling will focus on the H35, H7/8, H79 and H9 porphyry systems. Exploration drilling will also be conducted at the previously untested H58 system.

In addition, a parallel programme will pursue the newly discovered mineralised centres at Sor Baroot, once the current programme of surface exploration work is complete.

Tethyan has also received assay results of the last four holes completed at Sor Baroot before the mid-January shut-down. These confirm the presence of mineralised copper porphyry systems at Anomalies B and F, with three of the four holes intersecting copper mineralisation.

The best intersection was achieved in SB-016, with the average grade of the entire hole running 0.37% copper (0 to 100 metres, with no copper cut-off used), including 81 metres at 0.40% copper (6-87 metres) and 15 metres at 0.63% copper (24-39 metres), using a cut-off grade of 0.30% copper. Extensive low grade mineralization was also encountered in drill holes SB-015 (0-131 metres, 131 metres @ 0.15% copper) and SB-018 (0-200 metres; 200 metres @ 0.18% copper), with no copper cut-off applied.

Copper mineralisation at Anomaly B has now been intersected over a distance of 2.4 kilometres, and is open in three directions. Tethyan believes this area may hold the potential for a very significant copper resource, additional to and separate from its existing resources at Reko Diq.

Anomalies B and F are both covered in a thin layer of gravel, with little surface exposure. Detailed surface mapping and ground magnetic surveys are underway, designed to map out the extent of the porphyry systems (or multiple porphyry systems) in preparation for systematic drill-testing within the next two months.

- 03 Mar 2005












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