McFaulds 3
What we have 802,000 tonnes * 3.75% = 30,075 tonnes of copper.
McFaulds 1
What we have 279,000 tonnes * 2.13% = 5,942.00 tonnes of copper.
It seems we are proving the area up. More drilling to come. Not a mineable asset at this point.
From the news release. Info of particular interest is highlighted.
The resources, as stated, are categorized as Inferred and Indicated, however they are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. These estimated resources do not have demonstrable economic viability, as the results of an economic analysis of these mineral resources has not been done.
UC, Spider and KWG Resources are working toward the finalization of the tri party joint venture agreement, which forms a portion of the earn-in option agreement on the McFaulds East and West Properties.
Slow and steady she goes.
More drilling coming soon with more exciting targets!
BK
* for tonnage context this map can help.
Australia
http://www.ga.gov.au/image_cache/GA1...
See map circles representing 10-100,000 tonnes of copper.
