It doesn't look like anyone has started a Copper focussed thread for CUFe, so here it is.
CUF has inked a binding deal to acquire a 60% interest in the exploration assets of Gecko Mining Company (GMC) in the highly prospective Tennant Creek region of the Northern Territory in a cash and share deal.
This package covers ~ 240 km2 in the highly prospective, high-grade Gecko – Goanna copper gold corridor which has historically produced more than 5.5 million ounces of gold @19.3 g/t and 488kt copper at 2.9%.
The Tennant Creek project is composed of three high grade copper and gold mineral resources — Orlando, Gecko and Goanna –historically defined under the JORC 2004 code.
These initial resources are just the start.Several advanced copper-gold targets have already been identified within the mineralised Gecko – Goanna corridor, in addition to down dip and along strike extensions to existing resources.
The figure below shows the Gecko – Goanna corridor with unmined targets against mined ore bodies:
CUF intends to conduct this follow up drilling after assessment and development (if applicable) of early production operations at Orlando for cash flow generation in the short term.“The work that’s been done by since on the GMC ground since the project was acquired from Evolution Mining Ltd in 2020 has identified some interesting opportunities for us to evaluate with the potential to fast-track production.
“We are pleased to identify this opportunity to diversify our commodity exposure to supplement our high-grade iron ore at Wiluna and our other NT iron ore project Yarram, which is located just over 100km from Darwin port, which presents the opportunity for it to host a low-cost operation.”
Copper Price Last 5 Years:
Copper futures consolidated around the $4.5 per pound level in the last week of February, having been stuck in a tight range since mid-month as investors weighed concerns about the escalating crisis over Ukraine and the possibility of supply disruptions and robust demand….Meanwhile, copper usage is surging, especially in developed countries, with increasing demand for electric vehicles and wind farms, solar panels and the power grid. Also, a political shift across high producing countries Chile and Peru ignited civil protest against mining companies that often halt trucks from heading to and returning from the mines, exacerbating supply tightness.(https://tradingeconomics.com/commodity/copper)
Copper Price Last 12 Months:
Noting Emmerson Resources (ASX:ERM) terrific Copper news at Gecko, I’m betting that when CUFe releases its announcement of drilling result, it’s going to be big.
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