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Excelsior Mining Corp. (CVE:MIN) announces that drilling has commenced at the Gunnison Copper Property located within the copper porphyry belt in southern Arizona.
Excelsior Mining Corp. (TSXV:MIN) announces that drilling has commenced at the Gunnison Copper Property located within the copper porphyry belt in southern Arizona.
The press release is quoted as saying:
Gunnison contains a National Instrument (NI) 43-101 inferred resource of 4.77 billion pounds of copper (787 million tons at 0.30% copper) which remains open for expansion (see news release dated November 2, 2010). Approximately 7,000 m of drilling will be targeted towards upgrading the resource from the inferred to the indicated category. Management expects that the majority of the oxide resource will be upgraded. The remaining 3,000 m of drilling will test exploration targets, with the goal of increasing the global copper resource. An updated resource estimate will be carried out following the completion of this drill program.