UNIVERSAL Resources has announced the commencement of exploration drilling at the Blackard copper deposit in North Queensland.
The company’s SEEP Joint Venture partner, Xstrata is conducting the drilling through its local subsidiary, Mt Isa Mines.
The initial part of the exploration program will aim to further test the sulphide system underlying the Blackard native copper deposit, testing the strike extent of high grade copper intersected in October 2008, as well as infill drilling to test the strike length of western sulphide mineralisation.
The Seep Joint Venture permits Xstrata to earn a 51% interest in the SEEP Area by spending by no later than 30 June 2012 either $15m on exploration within the SEEP Area or $10m expenditure on exploration and a feasibility study of mining and processing mineralisation located within the SEEP Area.
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