CYU and GSE joint venture, exploring for copper in Queensland. Drill results Blue Caesar Phase 2 due this week.
Best results of Blue Caesar Phase 1, completed at the end of June, were
MKBC002 25m @ 1.62% Cu 8m @ 3.63% Cu 1m @ 17.30% Cu 2m @ 2.79% Cu
MKBC003 10M @ 1.13% Cu
The Phase 2 Blue Caesar program comprises 1 000 metres of diamond drilling targeting a 400 m by 100 m surface area within a further 6-8 drillholes. A quick turn around for Phase 2 drilling, always a good sign.
On July 16 the CEO of CYU, Paul Williams, stated "...while we have already encouraging signs of mineralisation in the core samples, we should wait for the first assay results which are expected from the lab by the end of July".
Tissuebox a poster on the CYU thread states "talk is that they (results) will be pretty good from the initial results and new locations." I acknowledge this is hearsay but it could be valid.
The share price of CYU increased by 33% and GSE 16%, all be it on small volume, on Friday 26. However, they still both increased. The key word being both.
If, and I stress if, Tissuebox is right, the CEO is right and the share price increase is right and they average out 100 m+ @ 2%+ Cu then this is looking big.
Today CYU is up 7% and GSE up 14%, again on relatively small volumes.
