THE DRILL SERGEANT: Exco Resources (ASX:EXS) has received results from five diamond drill holes that were recently completed at the company’s 100 per cent-owned Mount Colin copper-gold deposit in northwest Queensland.
All five holes intersected primary copper-gold mineralisation (chalcopyrite) in the target zone.
Results for the drilling of two extensional and three infill diamond drill holes included:
– 9 metres at 1.67 per cent copper and 0.18 grams per tonne gold from 372 metres (5.6 metres true width);
– 22m at 2.27 per cent copper and 0.25g/t gold from 366m (15.5m true width);
– 8m at 2.04 per cent copper and 0.27g/t gold from 246m (5.9m true width) and 6m at 1.08 per cent copper and 0.18g/t gold from 257m (4.4m true width);
– 14m at 2.50 per cent copper and 0.18g/t gold from 261m (9.7m true width); and
– 15m at 5.78 per cent copper and 0.53g/t gold from 308m (9.0m true width), including 6m at 11.29 per cent copper and 0.79g/t gold from 310m (3.6 true width).
In its announcement to the Australian Securities Exchange Exco explained it had commenced the current program of infill and extensional diamond drilling in June 2012.
Two holes were planned to target down-dip extensions to the current Resource, with a further five holes planned to obtain sufficient drill spacing that may allow for conversion of Inferred Resources to Indicated status.
Three of these five holes have been completed. A further infill hole is currently in progress with the other planned hole scheduled to be drilled shortly.
Schematic long-section showing colour contouring (grade multiplied
by true thickness) and pierce points of new and planned holes into
mineralised zone. Source: Company announcement
Mount Colin remains open at depth and in light of these positive results, Exco has planned an additional two down dip extensional drill holes with one hole already in progress.
Results are now being incorporated into resource evaluation and project development studies, which are also currently in progress.