Adelaide Resources Releases Drilling Update - Uranium and Copper-Gold
Tuesday September 11, 2007, 9:13 am
Original Announcement:
Drilling Update - Uranium, Copper-Gold
Adelaide Resources released a drilling update on uranium and copper-gold. Drilling programs are planned on at least two of the Company's exploration projects over the coming three months. Under the terms of the Eyre Peninsula Uranium JV, Quasar Resources is obliged to spend $750,000 on exploring for uranium in the palaeochannels of the Corrobinnie project area prior to 31 December 2007. A program of 2000m of reverse circulation drilling is scheduled to commence this week (11 September 07) to further test the Rover 4 iron oxide copper-gold target, 75 km south-west of Tennant Creek N.T. In late 2006 the company drilled two holes into Rover 4 and intersected wide intervals of low-grade copper and gold including 33.5m at 0.37% Cu and 41m at 0.24% Cu and 0.29 g/t Au.
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