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Golden Cross Resources Ltd, through its wholly owned subsidiaries Golden Cross Operations Pty Ltd (GCO) and Challenger Gold Li
17 April 2015
GOLDEN CROSS RESOURCES LTD
ABN 65 063 075 178
22 Edgeworth David Ave
Hornsby NSW 2077
Phone (02) 9472 3500
Fax (02) 9482 8488
SHARE PURCHASE PLAN Forward Development Program
Golden Cross Resources Limited (ASX:GCR) is pleased to announce that the Share Purchase Plan (SPP) which closed on 1 April 2015 raised $347,517 from the issue of 5,791,949 new Shares.
The GCR cash balance as at 31 March 2015 was $532,508. Current cash balance is $780,809. With the positive outcome from the Copper Hill Scoping Study released 15 April 2015, the
Company plans to commence a Pre-Feasibility Study (PFS) as soon as possible.
The SPP funds will facilitate initial technical programs ahead of the Company formally adopting a full PFS program and budget.
The initial programs include:
1 Targeted infill and extensional drilling of the high grade zones outlined at Copper Hill
Central in the 2014 drilling, to improve the definition of the high grade mineralization.
2 Commencing a bench-scale metallurgical program on 2014 drill core to assess the metallurgical performance of the mineralization scheduled to be mined and treated in Years
1-5.
A detailed geo-metallurgical study was completed on the 2014 drilling data ahead of commencing the above metallurgical program.
I wish to thank Shareholders for your support of the SPP. It is a positive outcome for the Company and its Copper Hill copper-gold project, and we look forward to encouraging results over the coming months.
Jingmin Qian
Interim Chairman
Further information, contact Jingmin Qian on (02) 9472 3500
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
CODE : GCR.AX |
ISIN : AU000000GCR0 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Cross Res. is a gold exploration company based in Australia. Golden Cross Res. develops gold, copper, silver and zinc in Australia, and holds various exploration projects in Australia. Its main assets in development are COPPER HILL and KEMPFIELD in Australia and its main exploration properties are WAGGA TANK, MOUNT ISA (QUEENSLAND), BOWEN, BURRA PROPERTY, WEST WYALONG, YELLOW MOUNTAIN, CULLARIN, MULGA TANK, CARGO, SUNNY CORNER, SOUTH GILMORE (DOBROYDE), BREADALBANE and CANBELEGO/ PIPELINE in Australia and NUIKLAVIK and NOTAKWANON in Canada. |