🕐14.01.10 - 03:38 Uhr
EXPLORATION DRILLING TO COMMENCE AT CAPE LAMBERTS LADY ANNIE PROJECT
Cape Lambert Resources Limited
ASX Announcement
14 January 2010
EXPLORATION DRILLING TO COMMENCE AT LADY ANNIE PROJECT
Key Points:
- Exploration drilling to commence at the Lady Annie Project in late
February 2010, with the first reverse circulation drill rig scheduled to
arrive onsite on or about 24 February 2010,
- Initial focus is on upgrading and adding to the defined resources at the
Mt Kelly Mining Area and Anthill-Python prospects,
- Swick Mining Services Limited (ASX: SWK) awarded a two year contract for
surface exploration drilling services, and
- Program comprises approximately 70,000 metres of reverse circulation
drilling and 10,000 metres of diamond drilling.
Australian resources and investment company, Cape Lambert Resources Limited
(ASX: CFE) ("Cape Lambert" or the "Company") is pleased to advise that
exploration drilling is due to commence at the Lady Annie Project in late
February 2010, with the first reverse circulation ("RC") drill rig
scheduled to arrive at the project on or about 24 February 2010.
Swick Mining Services Ltd has been contracted to undertake exploration
drilling services over a two year period at the Lady Annie Project, which
is located 120km north of Mt Isa, Queensland (refer Figure 1).
The two year exploration drilling program comprises approximately 70,000
metres of RC drilling and 10,000 metres of diamond drilling ("DD").
The
first of 3 drill rigs, comprising two RC and one DD rig, will arrive at
Lady Annie on or about 24 February 2010 and will commence drilling shortly
thereafter.
The second RC rig is scheduled to arrive in the second quarter
2010, and a diamond rig in May 2010.
RC drilling will initially focus on upgrading and adding to the currently
defined resources at the Mt Kelly Mining Area, and upgrading and extending
the defined resource at the Anthill -- Python prospects, located to the
south of the Mt Kelly Process Plant (refer Figure 2).
The scope of RC
drilling will expand significantly with the arrival of the second RC rig,
which will focus on testing highly prospective exploration targets on
granted mining leases and exploration permits within the project area.
The Company is currently divesting its interest in the Lady Annie Project
by way of an Initial Public Offering ("IPO") of Q Copper Australia Limited.
Patersons Securities Limited is the Lead Manager to the IPO.
The indicative
closing date of the IPO is 3 February 2010.
Should you wish to participate in the IPO you can do so by completing the
application form in the Supplementary Prospectus dated 14 December 2009,
which should be read together with the
Prospectus dated 16 November 2009.
A copy of the Prospectus and the
Supplementary Prospectus can be downloaded from the Q Copper website:
www.qcopper.com.au.
Alternatively, you can call Mr Philippe Francois on
(08) 9211 0600 to request a copy of the Prospectus and Supplementary
Prospectus are mailed to you.
"The award of the drilling contract prior to the listing of Q Copper is in
line with the Companys strategy of ensuring exploration commences at Lady
Annie as early as possible to enable additional
mine life to be crystallised," said Cape Lambert Executive Chairman, Mr
Tony Sage.
Click here to view the whole announcement:
http://esp.gewru.com/download/files/12414/1050657/EXploration%20drilling%20to%20commence%20at%20Lady%20Annie%20Project.pdf
FOR MORE INFORMATION PLEASE CONTACT:
Cape Lambert Iron Ore Limited:
Tony Sage
Executive Chairman
Tel: +61 (0)8 9380 9555
Australian Enquiries:
David Tasker
Professional Public Relations,
Tel: +61 (0)8 9388 0944/ +61 (0) 433 112 936
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