Chinalco Yunnan Copper Resources hits copper, gold and rare earths zone at Elaine JV Project

　　Chinalco Yunnan Copper Resources (ASX: CYU) and Goldsearch (ASX: GSE) have intersected a wide copper–cobalt-rare earth–gold zone from the recently completed diamond drill program at the Elaine prospect.

 

　　Elaine  forms part of the Mary Kathleen Joint Venture Project at Mt Isa, Queensland, in which Chinalco Yunnan holds 70% and Goldsearch has a 30% interest.

 

　　Highlight include:

 

　　- 188 metres at 0.35% copper (Cu), 174 parts per million (ppm) cobalt (Co), 0.02 grams per tonne (g/t) gold from 415 metres.

 

　　- 108 metres at 1,241 ppm TREO (total rare earth oxides), 0.02 kg/t uranium (U3O8), 0.08 kg/t ThO2 from 313 metres.

 

　　- 122.7 metres at 0.55% Cu, 317 ppm Co, 0.08g/t Au from 487 metres.

 

　　These results were following up from previously announced copper results of 346.70m at 0.28% Cu, 220ppm Co, 0.03g/t Au from 263m down hole depth (including 122.7m at 0.56% Cu, 317 ppm Co, 0.08g/t Au from 487m down hole depth).

 

　　Importantly, A revised JORC Resource estimate, incorporating Elaine JORC inferred REE + uranium resource (83,000t at 3,200 ppm TREO and 0.28 kg/t U3O8) and newly discovered copper+cobalt sulphide zone, is expected by the first quarter 2012.

 

　　Delineation drilling will commence in late August and continue to the end of the year.