Resolution gets huge rap
Friday, January 27, 2006
A MEDIA report based on an undisclosed source claims the Resolution copper deposit in Arizona held by Rio Tinto and BHP Billiton is "revenue equivalent" to a 300 million ounce gold deposit or a four billion barrel oil discovery.
The Australian quotes "a senior Australian resource analyst" as saying the resource is "so large it defies the imagination" – though ignoring that hyperbole sees a claim that the deep deposit is believed to measure 1.8km by 1.5km and about 450m thick.
Curiously, the awe struck analyst in not named.
The newspaper reports that Rio, which has a 55% interest in the project, "has suggested Resolution's copper mineralisation is more than 1.5 billion tonnes with grades of about 1.5%".
Exploration and feasibility work is said to be underway – including development of a shaft – with a feasibility study targeted for completion by 2010.
Click here to read the rest of today's news stories.
you guys read this..incredible
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