International Enexco Ltd. (TSXV:IEC,OTCQX:IEXCF) announced that an updated mineral resource estimate for its wholly-owned, Nevada-based Contact copper project shows that measured and indicated resources at the project amount to 1.06 billion pounds of copper, a 49 percent increase compared to the previous estimate.
As quoted in the press release:
Mineral Resource Estimate reported at 0.10% Copper cut-off.
Category Tons Copper (%) Pounds Copper Measured 58,977,000 0.26 306,680,000 Indicated 156,733,000 0.24 752,318,000 Measured + Indicated 215,710,000 0.25 1,058,998,000 Inferred 70,921,000 0.24 340,421,000
- An increase of 49% in the Measured & Indicated copper resources to 1.06 billion pounds; and
- An increase of 17% in the Inferred copper resource, to 329 million pounds; also at a 0.10% copper cut-off.
Arnold Armstrong, International Enexco’s president and CEO, commented:
The substantial increase in copper resources at our Contact Copper Project validates the work we have done in property acquisition and drilling.” commented Arnold Armstrong, President & CEO of Enexco. “We are very pleased with the updated resource figures and the progress we have made in advancing the project to a feasibility study. Our drill programs have produced steady and significant increases in the resources at Contact since 2007, and we still have exploration targets on the property to test by drilling.
Is the “looming copper supply crunch” fact or fiction? It’s time to debunk a few industry myths.Learn everything an investor needs to know about copper supplies and demands. Click below to download a FREE industry report on copper investing.
Send me the report!
Click here to download for free