Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	CYU
Latest Price:	0.17 (-5.56% )
52-week High:	0.40
52-week Low:	0.16
Market Cap:	29.47M

1 year chart

1 day chart

Chinalco Yunnan Copper Australia

Chinalco Yunnan Copper Resources (ASX: CYU) explores and develops minerals in Australia, Chile and Laos.

China Yunnan Copper Australia finds hidden uranium, rare earths

Thursday, January 28, 2010

China-parented but Australia-focused copper, uranium and rare earth explorer/developer, China Yunnan Copper Australia Ltd (ASX: CYU), said an “improved assaying technique” had confirmed significant rare earth elements at its Elaine Dorothy target in North-west Queensland.

Circa A$29.8 million-capped China Yunnan said diamond drilling had unearthed 1.6 kg/t of uranium oxide at 3.5 metres, with 3.81 per cent rare earth oxide at 27.5 metres.

“The previously reported results were based on sample assays returned by a four-acid, near-total digestion,” China Yunnan said.

“This method utilising nitric, perchloric, hydrofluoric and hydrochloric acids is near-total, as most minerals will be dissolved. Depending on the sample matrix, not all elements are quantitatively extracted.

“Final results have been returned for these samples, with a significant increase in uranium and rare earth mineralisation identified.”

Elaine Dorothy forms part of CYU’s North-west Properties, which include the wholly-owned Cloncurry North and Mt Isa projects, along with the August 2009-announced Mary Kathleen farm-in with Goldsearch Ltd (ASX: GSE).

China Yunnan accepted an arrangement whereby it must spend $750,000 on exploration over three years, along with granting Goldsearch three million 40-cent options.

Elaine Dorothy is five kilometres south of Mary Kathleen, a uranium mine which has already yielded 9.2 million tonnes for 1.2 kg/t of uranium oxide, and 3 per cent rare earths.

China Yunnan said it will proceed with surface mapping and “refined geological interpretation” before planning further drilling.

CYU listed on the ASX in October 2007 and was trading higher on today's news.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.