Copper Strike LimitedDrilling Update – END 12 intersects 15m @...

Copper Strike Limited
Drilling Update – END 12 intersects 15m @ 11.8% Cu
1st June 2005
ASX
RELEASE
Corporate Details
ASX Code: CSE
Issued Capital:
51.7m shares
2.9 m unlisted options
Key Shareholders:
Teck Cominco Australia 16.7%
GeoDiscovery Group 9.5%
Registered Office:
Level 9 – 356 Collins Street
Melbourne, Victoria
Australia 3000
Board & Management:
Mr Tom Eadie
Executive Chairman
Mr Peter Topham
Non Executive Director
Mr Neil McLean
Non Executive Director
Mr Terry Lees
Exploration Manager
Website:
www.copperstrike.com.au
For further information: Tom Eadie
Phone: 03 96400955
Mobile: 0419 880333
Fax: 03 96420698
[email protected]
ABN 16 108 398 983
Highlights
As previously reported, drillhole END 12 at the Einasleigh Copper Mine prospect intersected a zone of very strong copper mineralisation.Assays have now been received and are as follows:
END 12 – 15m @ 11.76% Cu from 244m
and 11m @ 3.10% Cu from 269m.
Drilling Results
Copper Strike has recently completed a 6 hole drill programme at theEinasleigh Copper Mine prospect (CSE 100%) located 300 kmnorthwest of Townsville. The results from the first 3 holes werereported on 16 May.
In addition to the good results from END 12 described above, END 10intersected a 70m zone of mineralisation within which there were 2zones of stronger mineralisation as follows:
END 10 – 2m @ 9.83% Cu from 235m
and 2m @ 4.02% Cu from 263m.
END 10 and 12 extend the zone of known mineralisationapproximately 50m up dip. END 11 was terminated near surfacebecause of directional problems. Results are shown in Table 1 and inFigure 1.
Next Steps at Einasleigh
The drill rig has recently completed a seven hole programme on thenearby Kaiser Bill prospect testing shallow zones and the encouragingopen-ended mineralisation previously announced (28m @ 1.32% Cuincluding 11m @ 3.00% Cu in hole KBDD 08). Assays will beavailable in June.
At the Einasleigh Copper Mine prospect, downhole electromagnetics(EM) is being carried out on all the recent holes to help determine theextent of the mineralisation. In addition surface EM coverage is beingextended approximately 2 km to the south to explore for continuationsand possible fault offsets of the mineralisation. Zones of mineralisationand alteration extending approximately 1 km to the north will also becovered.
The drill rig has now moved back to the Einasleigh Copper Mine prospect for a 4-6 hole programme.
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Table 1: Summary of recent assay results (1% Cu cut-off)
Hole No
From m
To
m
Interval m
Cu
%
Au
ppm
Ag
ppm
Comment
END 10
227
235
259
263
228
237
260
265
1
2
1
2
1.84
9.83
2.02
4.02
0.07
0.71
0.23
0.06
13.0
46.6
8.2
19.2
Zone of mineralisation extended from 225 to 295 metres
END 11
Short hole – stopped early because of excessive deviation
END 12
244
269
284
259
280
285
15
11
1
11.76
3.10
1.25
0.62
0.12
0.06
54.9
13.7
6.5
Figure 2: North – South longitudinal section showing location of drill intersections in the plane of the main target down plunge from the Einasleigh Copper Mine
Tom Eadie
Managing Director
The information in this report as it relates to geology, geochemical and exploration results was compiled by Mr. Neil McLean, MAusIMM, who is a Competent Person and has 20 years experience in the minerals industry and the activities being reported on. Mr. McLean consents to the inclusion of this information in the form and context in which it appears in this report.
For further information, please contact:
Tom Eadie, Managing Director or Peter Topham
Phone: 03 96400955 or 0419 880333 Phone: 03 96023626
Email: [email protected] Email: [email protected]
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