News: Golden Cross Resources hits 55m at 1.8% copper, 5.7g/t gold

Golden Cross Resources (ASX:GCR) has intersected 55 metres at 1.8% copper and 5.7g/t gold from 11 metres, including a bonanza zone of 12 metres at 3.1% copper and 12 g/t gold at Copper Hill, New South Wales.

GCR is capitalised at $13 million and assays have only been received for the interval 2 to 66 metres.

The hole targeted near-surface mineralisation between existing, historic holes at Central Copper Hill and was extended to test deeper mineralisation indicated by previous drilling.

The porphyry copper-style mineralisation occurs within quartz-magnetite vein stockwork with chalcopyrite, pyrite and gold.

This initial assay run ends with a one metre sample at 2.8% copper and 4.8 g/t gold with mineralisation continuing downhole.

Assays for the remainder of the drill hole will be reported in due course.