Chinalco Yunnan Copper Resources, operator of the Mary Kathleen JV with Goldsearch Ltd (30%), has completed a successful first pass diamond drill program at its Blue Caesar prospect revealing broad zones of near-surface sulphide mineralization. Blue Caesar is about 400 metres northwest of the 27.7 million tonne Mt Elaine copper-gold JORC inferred resource.
A 650-metre, three diamond hole drill program was undertaken at Blue Caesar between April and May targeting geochemical, geophysical and surface mineralization similar to the Elaine copper-gold resource situated 400 metres to the southeast along strike of the Mary Kathleen Shear Zone.
One hole returned 25 metres @ 1.62% copper from 28 metres down hole depth at a 0.5% copper cut-off including a massive copper sulphide intersection of 1 metre @ 17.3% copper from 30 metres down hole depth. Another hole returned 10 metres @ 1.13% copper from 36 metres at a 0.5% copper cut-off, including 2 metres @ 3.44% from 38 metres at a 1.0% cut-off.
Mineralization intersected between these two holes defines a 135-metre strike extent characterized by near-surface disseminated, predominately copper, sulphide mineralization.
This first pass drilling program at Blue Caesar successfully tested the current exploration model developed from the work undertaken at the Elaine resource. This model is being used to assist in identifying additional potential trap sites along the 12km-long Mary Kathleen Shear Zone that hosts the Mt Elaine inferred resource and the historic Mary Kathleen Uranium Mine.
These activities seek to identify and develop commercial copper and gold within the Mary Kathleen JV and the Mount Frosty JV at which Chinalco Yunnan is earning up to 75% from Mount Isa Mines, subject to Mount Isa Mines having a buy back right so as to retain a 51% interest in the Mount Frosty JV.
A 1000-metre drill program targeting a 400 metre by 100 metre surface area will now be undertaken to further define Blue Caesar’s geometrical mineralized body, evaluating the 400 metre, untested strike southeast to the Elaine prospect.
Chinalco Yunnan Copper Resources is an exploration and development company with interests in Australia’s North Queensland, Chile and northern Laos and is a wholly-owned subsidiary of Kunming-based Yunnan Copper Industry (Group) Co, the third-largest producer of smelted copper product in China.