Goldsearch and JV partner Chinalco Yunnan Copper Resources have returned assays of up to 2.13% copper equivalent and 1.98 grams per tonne gold over 109 meters at the Mary Kathleen JV Project in Mt Isa.

The diamond drilling program at the Elaine prospect is testing a zone replacement style sulfide mineralization, the results of which will be used to calculate an Inferred Resource in early 2012.

To date, four of 15 holes have been completed totalling 2,471.85 meters and testing 150 meters of the strike and open depth. The JV has confirmed an intercept of 109 meters at 2.13% copper equivalent, 1.98 gram per tonne gold, 0.5% copper and 482 parts per million cobalt which includes an internal zone of high grade gold and uranium centered within broad and consistent copper, cobalt, molybdenum, cerium mineralization.

This intercept includes assays of 26 meters at 7.76 grams per tonne gold, 0.17% copper, 488 parts per million cobalt, 843 parts per million molybdenum, 288 parts per million cerium and 2,861 parts per million uranium including 1 meters at 50,000 parts per million uranium and 2,253 heavy rare earth elements and yttrium from 508 meters.

Recent surface mapping has enhanced targeting of the interpreted Mary Kathleen shear and associated altered amphibolite units. Chinalco has 70% interest in the JV and Goldsearch has the remaining 30%.

(Sourced from www.proactiveinvestors.com.au)