Wednesday, April 28, 2004 UNIVERSAL Resources says it has reported the most significant copper intersections to date at the Little Eva deposit following RC drilling at the Roseby exploration joint venture located in Queensland's Mt Isa Inlier.
Assay results for three holes returned the intervals 107m grading 1.39% copper from 14m (including 15m at 2.26% from 14m), 20m at 1.31% from 34m (including 21m at 2.37% from 28m), and 161m at 1.02% from 9m.
Gold results from these initial holes are pending Universal said, with RC drilling continuing in May.
Little Eva, containing an inferred resource of 9 million tonnes at 1.05% copper and 0.15 grams per tonne gold, is so far the largest deposit at Roseby. The deposit remains open in all directions according to the company.
Universal currently has a 50% interest in the joint venture, with a subsidiary of Bolnisi Gold holding the remainder. Universal says it is increasing its interest to 70% by solely funding exploration in the joint venture's exploration area.
Shares in Universal were up 0.5c to 17c during midday trade today.
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