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Market:	ASX
Sector:	Gold Mining
EPIC:	GCR
Latest Price:	0.01 (-8.33% )
52-week High:	0.02
52-week Low:	0.01
Market Cap:	14.98M

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Golden Cross Resources

Golden Cross Resources (GCR) is a gold and base metals explorer, with the company also having phosphate interests near Mount Isa.

Golden Cross Resources shares rise on gold zone intercept at Copper Hill, NSW

Thursday, March 18, 2010

Golden Cross Resources (ASX: GCR) is continuing exploration drilling at Copper Hill, New South Wales, with 11 holes drilled with 1,928 metres of RC percussion and 289 metres of core.

The company said the results for the second hole in the program, GCHR298, have been received and contain very encouraging intercepts of gold-dominant mineralisation.

Results are as follows: 10 metres @ 1.17 grams/tonne gold including 3 metres @ 3.11 grams/tonne gold.

Overall the hole carried 162 metres @ 0.29 grams/tonne gold from 34 metres to the end of hole at 196 metres. The hole is located in a new zone north of Buckleys Hill and lies outside the 2007 resource estimate area.

The last metre of drilling assayed 0.72% copper, opening up new possibilities at depths not tested by previous drilling.

Gold dominant mineralisation has now been extended from the copper and gold mineralisation in previous step-out drilling 50 metres to the south-east.

Hole GCHR265 intersected 44m @ 0.36% copper, 0.25 grams/tonne gold Au from 44m and 30m @ 0.39% copper, 0.22 grams/tonne gold Au from 118m.

The company said there is clearly scope for further drilling at depth, to the north and to the northeast to define further extensions particularly when the recently reported, positive results for GCHR297 (21metres @ 0.51% copper and 0.18 grams/tonne gold) are considered.

Golden Cross Resources shares rose 10% to 2 cents in trading today.

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