Cloncurry Project

EXCO 100%

Copper, Gold, Zinc, Lead, Magnetite

The Cloncurry Project is centered near the town of Cloncurry and covers over 1,920km2. The Project includes six deposits hosting JORC compliant resources including the 1.7Mt Great Australia Resource that is currently being mined by fellow subsidiary CopperChem Pty Ltd. Resources delineated for the project to date total 8.05Mt @ 1.62% Cu & 0.49g/t Au containing 113,000t copper and 127,500oz gold.

The Mt Colin copper-gold deposit was re-estimated in 2011 resulting in a 29% increase in the overall resource to 1.92Mt @ 2.59% Cu. A scoping study on the previous resource indicated robust economic potential. Further work is currently in progress for underground mining design.

The Cloncurry Project hosts numerous prospects where drilling to date has intersected significant mineralisation.

Results from the 2011 drilling programme include:

Salebury

  • ECDD010 intersects 16m @ 1.86 % Cu & 1.22 g/t Au from 133m depth.
  • ECDD010 intersects 3m @ 4.89% Cu and 1.32g/t Au from 134m depth.
  • ECRC526 intersects 14m @ 1.00% Cu and 0.28 g/t Au from 70m depth.

Bosca/Bosca South

  • ECRC560 intersects  8m @ 1.69% Cu and 0.09 g/t Au from 14m depth.
  • ECRC558 intersects  24m @ 0.62% Cu and 0.33 g/t Au from 68m depth.

Canteen

  • ECRC553 intersects 12m @ 1.34% Cu and 0.57 g/t Au from 18m depth.

A substantial programme of data acquisition was completed during the second half of 2011. The accumulated data includes helicopter based SAM (Sub-Audio Magnetic) surveys, airborne magnetic surveys, detailed ground gravity surveys and soil geochemistry grids over priority prospect areas. These surveys have provided a range of new targets within the Cloncurry area and have highlighted several prominent geophysical anomalies associated with surface indications of copper and gold mineralisation.

Exco Resources - Cloncurry Project Resource Summary

Deposit

Class

Tonnes

Grade

Metal

Cu%

Au g/t

Cu T

Au Oz

Great Australia (1)

Indicated

1,400,000

1.53

0.13

21,000

6,000

Inferred

800,000

1.57

0.14

12,000

3,000

TOTAL

2,200,000

1.54

0.13

33,000

9,000

Mt Colin (1)

Indicated*

1,042,000

3.04

0.42

32,000

14,000

Inferred*

880,000

2.09

0.41

18,000

12,000

TOTAL*

1,922,000

2.59

0.42

50,000

26,000

Taipan

Inferred

1,460,000

0.80

0.1

12,000

5,000

Kangaroo Rat (1)

Inferred

1,257.000

1.29

0.6

16,000

25,500

Wallace South

Inferred**

1,000,000

-

1.6

-

53,000

Victory-Flagship

Inferred

196,000

1.20

1.4

2,000

9,000

Total Cloncurry Project

8,053,000

1.62

0.49

113,000

127,500

Notes: Discrepancies in totals are as result of rounding.

Unless otherwise stated the above resources are reported at a 0.5% Cu cut-off.

(1)Granted Mining Lease.

* Mt Colin resource cut-off = 1.25% Cu.

** Wallace South resource cut-off = 0.5g/t

 

Click on the maps for a larger view