Golden Cross Resources Sets Exploration Plans for Copper Hill Project in 2025
GCR (GCR) Share Update December 2024 Thursday 19th
Golden Cross Resources Announces New Exploration Plans for Copper Hill Project
Golden Cross Resources Ltd (ASX: GCR) has announced detailed plans for its upcoming exploration activities at the Copper Hill Project, aiming to enhance its potential as the company seeks joint venture partners.
Instant Summary:
- Stage 1: Initial gravity surveys to be completed by January 2025.
- Stage 2: Infill surveys planned for February 2025 based on initial results.
- Stage 3: Geochemical soil sampling to extend through February/March 2025.
- Potential application of advanced geophysical techniques and drilling in late 2025.
Exploration Plan Overview
Golden Cross Resources Ltd has laid out a comprehensive plan for exploring its Copper Hill Project, located in a prospective gold and copper region within the Macquarie Arc volcanic belt. This area is known for its rich mineral deposits, situated near prominent mines such as the Cadia gold mine.
The exploration will occur in multiple stages, beginning with Stage 1, which involves conducting detailed gravity surveys over the entire Copper Hill tenement. Scheduled for completion by January 2025, this stage aims to map subsurface structures and intrusive bodies that have not been previously explored.
Subsequent Exploration Stages
Following the initial surveys, Stage 2 will focus on infill surveys with closer spacing of 200m or 100m, depending on the initial findings. These surveys, planned for February 2025, will help identify specific areas for potential drilling.
Stage 3 involves extending surface soil sampling using modern analytical techniques. This phase, expected to conclude by March 2025, seeks to fill gaps in historical geochemical data and could reveal new vectors to mineralization.
Future Prospects and Techniques
Depending on the outcomes of these geophysical programs, Golden Cross Resources may consider employing advanced technologies such as Magnetotellurics and Ambient Noise Tomography, alongside a drilling program in the latter half of 2025.
The company is currently in discussions with landholders to secure access consents, and a contractor has been lined up to commence the Stage 1 surveys, pending contract finalization.
The planned exploration activities at the Copper Hill Project could significantly enhance Golden Cross Resources' asset portfolio, potentially increasing the project's attractiveness to joint venture partners. Successful exploration could lead to a positive revaluation of the company's assets, positively impacting stock prices. However, the inherent risks and uncertainties associated with exploration activities mean that results are not guaranteed.
Investor Reaction:
Analysts are likely to view this announcement as a positive step towards unlocking the potential value of the Copper Hill Project. The methodical approach to exploration, coupled with the strategic location of the project, may bolster investor confidence, though actual results will be crucial in determining the project's success.
Conclusion:
Investors should keep an eye on the progress of the exploration activities at Copper Hill, as successful outcomes could lead to significant developments for Golden Cross Resources. The company's ability to secure joint venture partners will also be a critical factor in realizing the project's full potential.