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Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. Sparty's posts nearly always relate to companies that he either holds, has held or intends to hold.

KALKRB Gold, Copper and Phosphate near Mt Isa

  • ASX ANNOUNCEMENT 17th May 2010 DRILLING COMMENCES ON PILGRIM COPPER GOLD PROSPECTS PILGRIM EPM 10572 MT ISA QUEENSLAND
    The directors of Krucible Metals Ltd are pleased to announce that drilling commenced on the Copper, Gold, Silver prospects on PILGRIM EPM 10572. This tenement is located in the Mount Isa District, approximately 30 km north of Phosphate Hill Mine and the Company’s Korella Phosphate project.
    Krucible is the operator as joint venturer with Deep Yellow Ltd and and can earn 80% equity by spending $400,000 over four years. Previous announcements to the ASX, the latest being 15th April 2010, reported significant multi-element surface values, such as:- 28.1% copper,5.07 g/t Gold,13.5 g/t Silver & 134 ppm Molybdenum, from the PILGRIM BRECCIA/FRACTURE PROSPECT. and 0.72% Copper, 8.73g/t Silver and 459ppm Uranium, from the completely covered HUMPHRIES HILL PROSPECT. The planned drilling program is for 2,000 to 3,000 metres of mainly RC Percussion drilling, to an average depth of 70 metres.
    Only minor previous/historical drilling has been recorded, so this program should be considered as first-pass “wildcat drilling”. Access is often difficult due to the rugged terrain, so the planned drill holes are not on a regular grid, but spaced to obtain a fair coverage of the two prospects. Results from this drilling, including assays, should be available inside six weeks and will be duly reported to shareholders and investors through the ASX.
    Dennis Lovell Director - Company Secretary

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