A standout hit of 50m grading 6.65% copper from 235m downhole saw shares reach 40c in early afternoon trade, a gain of more than 116% after closing yesterday at 18.5c.
Other drill results included 15m grading 4.39% copper from 253m and 10m grading 3.65% copper from 279m.
However Copper Strike said the true width, extent and attitude of the mineralisation were unknown due to structural complexity.
The company is in the process of completing a downhole EM survey to target future drilling later this month.
Following the downhole work, large loop surface EM coverage will be extended to trace the highly conductive mineralisation to the south, where Copper Strike believes the bulk of the tonnage potential is located.
Drilling is also underway at the company’s Kaiser Bill prospect, 8km from Einasleigh, where Copper Strike believes there is the potential for an open cut mine targeting 10-20 million tonnes grading around 1-2%.
Copper Strike listed on the ASX in November after an IPO raising $6.5 million. The company features managing director Tom Eadie and exploration manager Terry Lees.
