Golden Cross Resources (ASX: GCR) will soon commence drilling at the historic Burra Copper Mine and Block 51 prospect within its Burra project near Cobar, New South Wales.
The Burra Project has drill-indicated potential to host deep-seated, Cobar-style mineral systems with lenses containing copper and silver with minor gold, as well as zones of lead-zinc-silver mineralisation.
Recent infill gravity surveying has improved resolution of a significant anomaly at the Burra mine, which will be tested in the current drilling program.
Crews have been mobilised and drilling is expected to commence on Friday, 7th March.
Interestingly, Heron Resources (ASX: HRR) revealed on Monday that it had secured a 19.9% stake in GCR after subscribing for $1.88 million worth of shares.
Its entry as a strategic shareholder provides GCR with funding to drill out and expand the JORC Resource at its Copper Hill copper-gold project in the Lachlan Fold Belt of New South Wales.
Copper Hill has a current resource of 155 million tonnes at 0.33% copper and 0.27 grams per tonne, for 493,000 tonnes of copper and 1.33 million ounces of gold.
Exploration will determine whether Northparkes or Cadia-Ridgeway-style underground mineralised systems exist below the currently defined open pit resource.
With multiple high potential projects and new drilling underway, GCR has plenty to keep investors interested.
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