Golden Cross Resources (GCR) is a gold and base metals explorer searching for large deposits in highly prospective mineral belts.
GCR's primary focus is the Copper Hill Project in central NSW strategically located near NCMs Cadia deposit. Copper Hill has an Indicated and Inferred Resource of 136 million tonnes containing 455,000tns copper and 1.4m oz gold.
Today it announced a major drill intersection 400m to the north of the current resource envelope and similar to the Cadia mineralisation.
The management of GCR are very conident that further drilling will uncover more and higher grades within the region. This would significantly increase the resource estimate.
Systemaic drilling is to commence in the area immediately.
This project seems to have significant upside to me. I bought this as a trading stock a little while ago, but since their past 2 anns, I'm holding to see just how big this deposit can get.
Seems to be heading up on the charts and broken through $0.07. The next few reports should continue to drive the sp up imo. As I said, holding.