It is on same tenements to Mineral Hills mine which is containing 3mt@ 2%Cu(NPV:$540M, similar to SFR).
All the mines and their high grade deposits surrounding KDR's tenements.
Regional airborne magnetic data shows the Blind Calf Copper occurrence within broad zone of NNW trending meta-sediments. The Company commissioned a detailed ground magnetic survey of the area in September 2010. Detailed analysis of the magnetic data shows that the depth to magnetic basement increases to the east.
The Blind Calf workings area in the south of the tenement have a long history of Copper mining which commenced shortly after the first discovery of Copper there in 1908. Recorded production from 1909 to 1919 from the workings is approximately 100 tons of Copper oxide ore for an estimated 20 tons of Copper and includes a small leaching operation in 1958 and 1959 .
Samples (within the oxide zone) taken by earlier explorers from across the back of a stope in the Windlass Shaft, at a depth of 9.8 metres, assayed 2.7% Copper over an exposed lode width of 3.6 metres and in the Blind Calf shafts two faces assayed 5.6% Copper over 2.4 metres and 18.7% Copper over 2.1 metres. Drilling and down hole sampling at the site has been conducted by two previous explorers. A summary of the best results is included in the table below and includes high grade intersections at depths suitable for open cut mining
The tenement shares its eastern boundary with the Mineral Hill Mine which has produced significant amounts of Copper and Gold. The Blind Calf tenement package contains three priority areas of interest that will be further investigated by the Company in December 2010.
NEAR SURFACE [email protected]% Cu AT BLIND CALF: Phase One drilling confirm significant near surface copper mineralisation open at depth at Blind Calf, NSW HIGHLIGHTS: Assay results from four hole Phase One drilling program received. 27m @ 1.48% Cu from 32m, including 18m @ 2.09% Cu from 41m, and 5m @ 3.86% Cu from 54m in Hole K10-01. Hole K10-01 ended in significant mineralisation with the final 1 metre interval (58-59m) yielding 2.38% Cu and 3.2 g/t Ag down hole. All holes intersected anomalous copper. Phase One drilling was limited to 4 holes up to 68m depth Phase Two drilling program scheduled to commence in February 2011 to further define the extent of this mineralisation.
PHASE TWO : Based on the Phase One results the Company has commenced preparation for a more extensive and systematic drilling program at Blind Calf. This second phase of the program is scheduled to commence, dependant on availability of a suitable drill rig, in February 2011. The Phase Two Program will focus on the following:
1. RC drilling of 14 holes @ 200 metres each for a total of 2,800 metres including; 2. Further drilling at the Blind Calf workings to expand on these results 3. Initial drilling at the Central Targets (KID14 -15) as described in Figure 2 below 4. Initial Drilling at the donut shaped cluster of magnetic anomalies (KID06 - 12) in the north of the tenement as described below
The results from Phase Two will be used to determine the next steps in expanding upon the Company's understanding of the extent and nature of the copper mineralisation at Blind Calf.
Figure 2. Map showing December 2010 drill holes in red, historical drillholes in black. Red Crosses are magnetic targets planned to be drilled
KDR's MC: $14M / Floating shares only 24M
It is on same tenements to Mineral Hills mine which is containing 3mt@ 2%Cu(NPV:$540M, similar to SFR).
All the mines and their high grade deposits surrounding KDR's tenements.
It already hit significant near surface copper mineralisation in several area.
What is the NEAR future of KDR?
KDR Price at posting:
33.0¢ Sentiment: LT Buy Disclosure: Held
