Good intersections at Phu Kham

Ongoing infill and resource extension drilling within the ‘north mine area’ of the...

  Ongoing infill and resource extension drilling within the ‘north mine area’ of the Phu Kham copper-gold deposit indicates potential for the ultimate open pit to be extended deeper in that part of the deposit.Reverse circulation and diamond core drilling intersected high-grades within broad zones of copper-gold mineralisation, including:44m at 2.7% copper and 1.1g/t gold from a depth of 8m, including 24m at 4.4% copper and 1.7g/t gold from a depth of 24m.• 278mat 0.6% copper and 0.4g/t gold from a depth of 6m, including 20m at 2.3% copper and 0.5g/t gold from a depth of 163m.In the north mine area, the current open pit design has a maximum depth of 120m below surface, compared with 280m in the centre of the Phu Kham deposit. The latest drilling intersected broad zones of mineralisation to depths in excess of 250m below surface and indicates potential for the ultimate open pit design to be extended deeper in that part of the deposit, subject to revised mineral resource and ore reserve estimates.This latest drilling is located between 100m and 200m along strike to the south of drill hole GDD099, which returned the highest continuous copper grade intersection at Phu Kham. GDD099 intersected 34m at 4.6% copper and 0.7g/t gold from a depth of 294m within a broader mineralised zone of 322m at 1.1% copper and 0.2 g/t gold from a depth of 8m.The current 100-metre spaced grid that covers the northern most 400m of strike of the copper-gold deposit is being in-filled to 50m line spacing, with holes at 50m intervals on existing lines and 100m intervals on new lines.At the end of the June quarter, 35 of the planned 54 holes (9,935m) for the Phu Kham north mine area infill drill program had been completed for a total of 6,572m.