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2012-02-03 16:03 
Copper Spot News- Check out best bets for crude, gold, copper
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Apr
29
Gunson Resources in funding discussions for Mount Gunson Copper Project..
April 29, 2010 | Leave a Comment
Gunson Resources (ASX: GUN) has completed a ten hole wide-diameter diamond drilling program on the MG 14 – Windabout Excised Area at the Mount Gunson Copper Project, South Australia, on 18 April.
The object of this program, which began 17 March, was to collect samples for metallurgical test work, as part of the Bankable Feasibility Study (BFS) on the MG 14 and Windabout copper deposits excised in June 2009 from the Noranda-Pacific Pty Limited farm-in agreement.
Total metreage drilled in this program was 566 m, comprising 171 m at MG 14 and 395 m at Windabout.
Assays for the MG 14 drilling have been received and those for Windabout are expected in early May.
All holes were vertical and significant intersections at MG 14 included: Hole MGD 58: 1.4m @ 2.6% Cu from 26.0m; Hole MGD 59: 1.7m @ 2.1% Cu from 26.2m; Hole MGD60: 1.6m @ 1.7% Cu from 27.4m and Hole MGD 61: 2.7m @ 2.1% Cu from 25.6m.
As MG 14 is a flat sheet-like deposit, the intersection widths listed above are close to true widths.
The above intersections were calculated at a 0.8% copper cut-off grade and compare well with the neighboring drill holes.
In all cases, the highest grade mineralisation occurs at the top of the ore zone, likely corresponding with the greatest abundance of the high tenorcopper sulphide chalcocite (80% copper).
Metallurgical test work in 2008 – 2009 on samples from the MG 14 deposit showed that a high gradecopper concentrate assaying 33% copper with very low uranium could be produced, at a copper recovery from ore to concentrate of 67%.
The company said test work on the new MG 14 samples has commenced, with the aim of improving the copper recovery into concentrate and possibly the concentrate grade.
David Harley, managing director of Gunson Resources said discussions are continuing with companies interested in funding part or all of the BFS and part of the potential mine development, including concentrate buyers, copper smelters and investment funds.