CSE – Copper Strike | Aussie Stock Forums

6/2/07 A drill programme to increase the high grade resource at Einasleigh will commence in mid-February. Recent structural studies have shown that the high grade copper mineralisation has not been closed off at depth by drilling and that there is potential to add significant tonnage. 65m shares gives a market cap of $18m at 28c.

Resources

Einasleigh Ore Mined 0.48Mt @ 3.7% Cu, 0.21g/t Au & 16g/t Ag (19Kt Cu)

Resource Inventory 0.83Mt @ 3.0% Cu, 0.13g/t Au & 14g/t Ag

Kaiser Bill Ore Mined 8.16Mt @ 0.82% Cu, 0.11g/t Au & 5g/t Ag (104Kt Cu)

Resource Inventory 13.4Mt @ 0.83% Cu, 0.13g/t Au & 6g/t Ag

15,000 tpa of copper in precious metal-rich concentrate from 2009, by mining at Einasleigh and Kaiser Bill. Operating (C1) cost is estimated at US$1.48/lb Cu.

Lead-Zinc 16/1/07. Chloe East is the most advanced prospect with a thick, east-plunging, north-dipping zinc/lead deposit taking shape to a depth of approximately 200m. The best hole to date is the deepest hole, CH015, which intersected 26m @ 6.1% zinc, 2.9% lead and 60g/t silver from a depth of 173m. CH025 was another important hole in that it confirms the very shallow potential of the deposit. CH025 intersected two zones of high grade material over a combined thickness of 20m. At Chloe West, mineralisation from 5-10m thick has been intersected over a strike length of 200m to a depth of about 200m, as typified by earlier drill holes 76MD2, 77MD7 & CH007, and recent holes CH023 & CH029. Further to the west, CH006 intersected blind mineralisation at the Young prospect. Further drilling is planned for this new discovery. In total 23 holes totalling 4500m are planned for the Chloe prospects commencing in February.

Exgeo comment: the lead-zinc grades are similar to those that DEG is getting in WA, but CSE has a potential copper mine as well. DEG and CSE have a similar market cap