Golden Cross Resources - Copper Hill Project Update and Future Exploration Plans
GCR (GCR) Share Update November 2024 Tuesday 19th
Golden Cross Resources Unveils Key Developments in Copper Hill Project
Golden Cross Resources Ltd (ASX: GCR) has provided a comprehensive update on its flagship Copper Hill Project, highlighting significant mineral resource estimates and outlining future exploration and development plans.
Instant Summary:
- Copper Hill Project located in the Macquarie Arc volcanic belt.
- Measured Resource: 148 million tonnes with 0.32% copper and 0.28 g/t gold.
- Total resource: 190 million tonnes with 0.28% copper, 0.28 g/t gold, and 1.3 g/t silver.
- Planned geophysics and geochemistry programs for 2024-2025.
- Feasibility studies to include metallurgical testing and financial modeling.
Copper Hill Project Overview
The Copper Hill Project is situated within the well-established mineral province of the Macquarie Arc volcanic belt in the Lachlan Fold Belt region, known for its gold and copper deposits. The project is strategically located 50 kilometers north of the Cadia Gold Mine and 60 kilometers south of the Boda Gold-Copper Prospect.
Mineral Resource Estimate
Golden Cross Resources has reported a JORC 2012-compliant Mineral Resource Estimate for the Copper Hill Project. The estimate includes 148 million tonnes classified as Measured Resource, with a copper grade of 0.32% and gold grade of 0.28 grams per tonne. The total resource stands at 190 million tonnes, containing 520,000 tonnes of copper, 1,720,000 ounces of gold, and 7,900,000 ounces of silver.
Exploration and Development Plans
Looking ahead, Golden Cross Resources plans to implement a series of exploration techniques to enhance their understanding of the subsurface mineralization at Copper Hill. These include geophysical surveys such as gravity data collection and Ambient Noise Tomography (ANT) surveys, alongside geochemical soil sampling to identify potential mineralization pathways.
Feasibility Studies and Infrastructure
The company is also preparing for feasibility studies in the second half of 2025, which will encompass metallurgical testing, financial modeling, mining studies, and environmental assessments. The Copper Hill site benefits from existing infrastructure, including proximity to the Mitchell Highway and a 132 Kv substation within 5 kilometers.
The detailed resource estimates and planned exploration activities at Copper Hill are likely to bolster investor confidence in Golden Cross Resources. The project's strategic location and infrastructure advantages could positively influence the company's stock performance. However, the reliance on forward-looking statements suggests some inherent risks, which investors should consider.
Investor Reaction:
Analysts may view the update as a positive step towards unlocking the value of the Copper Hill Project. The comprehensive resource estimates and exploration plans could attract interest from investors looking for opportunities in the mining sector.
Conclusion:
Investors should keep an eye on Golden Cross Resources' progress with the Copper Hill Project, particularly the upcoming geophysical surveys and feasibility studies. These developments could have significant implications for the company's future growth and stock valuation.