Copper Strike Mining

Einasleigh Project, North Queensland  

 

Copper Strike has discovered six deposits since 2004. Current Einasleigh resources include:

Einasleigh: small high grade copper deposit;

Kaiser Bill: larger open-cuttable copper deposit

Chloe: shallow zinc-lead-silver deposit of about 3 million tonnes

Jackson: smaller shallow zinc-lead-silver deposit

Stella: smaller shallow zinc-lead-silver deposit

Railway Flat: well-located, lower grade, shallow, zinc-lead-silver deposit

Copper Strike completed a feasibility study in mid-2009, which examined the economic robustness of the development of these resources.

 

The feasibility study using a copper price of US$2.50/lb, estimated a cash margin of A$289 million, an NPV (after tax) of A$91 million and an IRR of 26%.

 

Todays' copper price (early September 2010) is over US$3.40/lb.                       

Walford Creek, NW Queensland

 

Drilling by Copper Strike delineated a large, shallow, polymetallic resource in the Century area of NW Queensland. 

 

Further drilling is necessary to extend the resource. A joint venture partner, MM Mining Ltd (MMM), has been brought in to carry out the drilling. The partner has signed a Joint Venture Agreement allowing them to earn up to 70% of the Walford Creek exploration licences by the expenditure of $4 million.