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COBAR CONSOLIDATED RESOURCES LIMITED - ASX: CCU
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Description
Cobar Consolidated Resources Limited (ASX:CCU) is an Australian mine developer on the way to becoming a globally significant silver producer through development of the Wonawinta silver project south of Cobar in western New South Wales.
CCR has 1,371 km2 of tenement & prospect map on the western margin of the Cobar basin in western New South Wales. The Cobar mineral field is an attractive area for investment in mineral exploration and mining. It is characterised by high grade, long-life, multi-metal deposits, has good infrastructure, an experienced work force and a long-standing mining tradition.
Wonawinta Silver Project
- Largest 'pure' silver project in Australia
- 51Moz Ag indicated / inferred resource
- 14Moz Ag probable reserve
- High potential for reserve & resource increases
- Rapid progression from exploration to development with forecast production in Q4 2011.
Gundaroo Project
The Gundaroo project, which initially comprised two distinct, strong geochemical Ag-Pb-Zn-As-Sb anomalies adjacent to the regional Dusty Tank Fault has been the main focus of CCR's exploration since listing in July 2006. Drilling of the smaller discrete geochemical anomaly for Ag in soils immediately east of the fault resulted in the delineation of the De Nardi stratiform silver resource. A 5km soil anomaly with coincident IP response following a low ridge of outcropping Buckambool Sandstone some 2km west of the fault, known as the Ridge Prospect, has yielded encouraging intersections of both stratiform and vein / breccia base metal mineralisation. The zone of flat-lying strata between the Ridge Anomaly and the Dusty Tank Fault has been named Gundaroo Central. The Central Zone is considered to be highly prospective but drilling to date has been minimal.
Winduck Super Project
CCR believes that this area has potential to host major resources of Ag-Pb-Zn in Winduck group sediments in close proximity to the major Dusty Tank (Blue Mountain) and Jackermaroo Faults. In pursuit of this vision, CCR has acquired outright ownership of Exploration Licence 6651 (replaced by EL7345), which covers extensions of the Dusty Tank Fault running southwards from Gundaroo to Wonawinta, and the Jackermaroo Fault extension to the northwest of Wonawinta. There are compelling indications of mineralisation associated with these fault structures, additional to the documented occurrences at Gundaroo and Wonawinta.
McKinnons Gold Deposit
The McKinnons gold deposit, located 37km southwest of Cobar occurs within CCR's EL6402. Norgold Limited (and its precursor company, Geopeko Limited) conducted regional drainage geochemical surveys throughout the area. Prospecting work conducted during these surveys led to the discovery of the outcropping McKinnons deposit in December 1988. Norgold drillied 4920m of RC and 1070m of diamond core in evaluating the deposit but sold the deposit and associated exploration tenements to Burdekin Resources Limited (BRL). BRL completed a further 5743m of RC and 389m of diamond drilling based and based on all the drilling defined a resource of 2.7 million tonnes at 1.7 g/t Au using a 0.6 g/t Au cut off. A pit optimisation generated a reserve of 2.2 million tonnes at 1.91 g/t Au at a 0.7 g/t Au cut off. Mining commenced in February 1995 and was completed in December 1996. Milling of ore commenced in April 1995 and continued until April 2000 when the operation was shut down. Almost all ore mined and milled was oxide material.
Goldwing Project
The Goldwing mineralisation was identified by Burdekin using partial digest soil geochemistry and has been tested by some 39 RAB holes and 36 RC holes. Most of the RAB holes were less than 20m deep and the best result was 3m at 1.17 g/t Au in RAB602. Eight of the RC holes recorded intercepts of better than 1 g/t, the best being 3m at 4.91 in GWFP4. This work was later followed up with the excavation of 6 costeans. In one costean sampling gave an interval of 9 metres @ 1.59g/t Au. Based on this work a resource of 100 000 tonnes @ 1.34 g/t Au was delineated. Despite the considerable drilling completed, the geochemical anomaly is open to the north, south and east and cannot be regarded as fully tested.
Mine For
silver, lead, zinc
Location of operation(s)
New South Wales
Australian Basins
Cobar
Address
Level 4 , 448 St Kilda Road
MELBOURNE, VIC, AUSTRALIA
Phone
(03) 9866 8613
Website
Last Updated
20/12/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
