Exco Resources (ASX: EXS) is continuing to move the Mt Colin copper-gold deposit forward, which is strategically located in the highly prospective Mt Isa region of Queensland.
The latest positive news flow is a 29% boost in the Resource to 1.92 million tonnes at 2.59% copper.
Importantly for the confidence of the resource, the Indicated category jumped 68% to 1.04 million tonnes at 3.04% copper.
The resource was confirmed by an additional infill drilling program which comprised 24 diamond holes and 13 reverse circulation holes, with mineralisation still open at depth.
Exco said that the resource classification was developed from confidence levels of key criteria including drill spacing, geological concepts, sampling and data density and grade estimation confidence.
Estimates of dry in-situ bulk density were derived from 822 core samples distributed throughout the deposit.
The bulk density values were interpolated using the Inverse Distance squared estimation method with an isotropic search, after which unfilled blocks were then assigned a value based on the correlation between copper and specific gravity.
Mt Colin on the move
Currently Exco has three rigs active at the project, ensuring an increase in results driven news flow towards the end of 2011.
Ticking another box, a Scoping Study completed on the previous resource indicated robust economic potential, with additional work underway to progress the underground mining design.
Exco has a 100% interest in Mt Colin, which forms part of the Cloncurry Project which has a total resource of 7.65 million tonnes at 1.69% copper and 0.52g/t gold.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/19550/exco-resources-boosts-high-grade-resource-to-192mt-at-259-copper-at-mt-colin-19550.html
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