30 May 2008Mt Isa Phosphates – Resources RetractionFurther to...

30 May 2008
Mt Isa Phosphates – Resources Retraction
Further to GCR’s announcement dated 29 May 2008 regarding its Mt Isa Phosphates Joint Venture with Legend International Holdings Inc (OTCBB: LGDI), in response to a request by ASX, GCR wishes to retract all quoted tonnages and grades of rock phosphate on the joint venture properties, made in GCR’s December and March Quarterly Reports dated 14 January 2008 and 21 April 2008 respectively, its response to ASX’s price query dated 7 May 2008, and its announcements dated 18 December 2007 and 29 May 2008.
The quoted estimates are pre-JORC Code, and therefore cannot be reported under the ASX Listing Rules.
Legend plans to re-drill the joint venture deposits at Lily Creek, Sherrin Creek, Quita Creek and Highland Plains, in order to bring the rock phosphate estimates to JORC status. Drilling will commence on the Highland Plains property during June or July.
GCR anticipates the results of the drilling programs with interest.
Enquiries:
Kim Stanton-Cook, Managing Director – ph (02) 9472 3500
Daven Timms, Secretary – ph (02) 9472 3500