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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (41914)	8/20/2009 7:25:08 PM
From: LoneClone	Read Replies (1) \| Respond to of 194002

Study due on major high grade outback copper project A mine study for the high grade Redbank copper project in the remote east of Australia's Northern Territory is now expected at the end of this month. Author: Ross Louthean Posted: Wednesday , 19 Aug 2009 ADELAIDE - mineweb.co.za Redbank Copper Ltd (ASX: RCP) said a study due would provide a detailed analysis and refinement of optimal methods for developing the Redbank copper project in the Northern Territory. Redbank's managing director Bruce Morrin said the company was working towards starting operations in the first half of next year. Redbank Copper was also reviewing initial results from its latest exploration programme on high grade sulphide targets and Morrin said that initial drilling results released in July "demonstrate the considerable likelihood of a resource upgrade in tonnes and grade." Data on the Intierra information service showed that a best intercept in July on the Punchbowl prospect was a section of 31 metres from 182m depth grading 2.5% copper including 10m @ 4.4% Cu, and that this hit was in a region that gave high grade intersections in an earlier drill campaign. This year, Redbank Copper increased its holding adjacent to the Queensland border in a region where significant copper, cobalt, phosphate, manganese and uranium discoveries have been made. It's holding now covers 3,700 square kilometres in the McArthur Basin region, and takes in discoveries that have already provided an inferred JORC resource of 1.718 million tonnes grading 1.7% copper for a contained 29,000t of copper. There is also an already established zone within which there is an inferred-indicated 5.2 Mt @ 1.4% Cu for 75,000t of contained copper. The company, which has Stirling Resources Ltd - managed by Michael Kiernan - as major shareholder, says it wants to look at an annual production target of 7,500t of copper in concentrates.