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

To: LoneClone who wrote (45607)	10/20/2009 10:41:25 PM
From: LoneClone	Read Replies (1) \| Respond to of 194043

Redbank Copper drilling excites with big copper hits proactiveinvestors.com.au Redbank Copper (ASX: RCP) has unveiled further exciting results from RC drilling on its copper project in the South McArthur basin region of the Northern Territory. In a statement, the company said the results were from the final stages of this season’s 8,500 metre drilling program. The latest hits include copper grades up to 12m at 2.85% Cu from 240 metres which, interestingly, remains open at depth, a result of 33m @ 2.06% Cu from 192m and shallow intersections of 28m at 1.78% Cu from 20 metres. The project is located in the Redbank Mineral Field in the NT, where the company holds a substantial ground position. The region hosts significant economic copper mineralisation and is highly prospective for copper, cobalt, phosphate, manganese and uranium. The results follow on from earlier exploration success on the advanced sulphide targets within ERL94, including the discovery of three new copper pipes at Roman Nose, Camp Valley and San Manuel, with high grade intersections of up to 7% copper previously announced. Redbank managing director Bruce Morrin said the latest results provided further confidence for the delineation of new resources. “We are particularly happy by the Roman Nose prospect, which appears the best of the newly discovered pipes, and offers significant potential for deep high grade resources,” Mr Morrin said. “This will be a key target for our drilling program next field season after the NT wet season. Mr Morrin said the current drilling campaign was now nearing completion, with only shallow follow-up drilling planned at Sandy Flat and some limited sterilisation drilling for infrastructure to complete. “Drilling is expected to finish this week, and work will progress to generation of an updated JORC resource estimate for the project, which we expect to release during the next quarter,” he said.