Exco Resources Limited (ASX:EXS) Received Further Positive Results At Salebury & Fisher Creek Cu-Au Projects
Exco Resources Limited (ASX:EXS) Received Further Positive Results At Salebury & Fisher Creek Cu-Au Projects

Perth, Nov 4, 2010 AEST (ABN Newswire) - Exco Resources Limited (googlechartASX:EXS) (googlechartPINK:EXRSF) is proactively engaged in a programme of exploration activities across a number of high priority targets within its portfolio of Cu-Au projects in North West Queensland.

The work completed to date in the Pumpkin Gully syncline has yielded a number of very positive results. Over and above the established resources at Monakoff and Monakoff East it is clear that significant potential exists at a number of additional prospects on the southern limb of the syncline.

Recent programmes have been focused on the Salebury and Tanbah prospects with results released previously in Exco's Quarterly Report (refer to ASX announcement on 26 October 2010). Further positive results have now been received for Salebury and Fisher Creek.

SALEBURY PROSPECT (EPM 11675 -100% Exco)

The Salebury prospect occurs on the southern limb of the Pumpkin Gully syncline at the contact of shales and volcanics. Calc silicate breccia bodies also occur within the prospect area. The main target to date has been a zone of approximately 600m strike defined by sporadic copper oxide mineralisation at surface. The prospect area hosts a number of minor historical workings including a small open cut that leads to underground workings, which appear to have been accessed by a small shaft to the south.

Previous drilling by Exco has involved traverses of shallow bedrock air core and reverse circulation (RC) drilling with several phases of deeper RC. Numerous zones of ore grade mineralisation were intersected in these earlier programmes.

Results from the latest round of diamond drilling confirm the presence of significant Cu-Au mineralisation, with hole ECDD002 intersecting 48m (from 87-135m) @ 2.18% Cu, 1.97 g/t Au and 619ppm Co including 32m (from 87-119m) @ 2.87% Cu, 2.76 g/t Au & 734ppm Co.

Diamond hole ECDD007 (triple tube HQ diameter core) was drilled from the opposite direction back towards and beneath ECDD002. Results are as follows:

- 46m (from 89-135m) @ 1.43% Cu, 1.51g/t Au & 996ppm Co including

14m (from 89-103m) @ 1.84% Cu, 2.45g/t Au & 447ppm Co; and

11m (from 123-134m) @ 2.50% Cu, 2.57g/t Au & 724ppm Co

The results from ECDD007, as shown in Figure 3, confirm the presence of a sizeable mineralised structure. Further follow-up work is planned to better define the geometry and the extent of the mineralisation, with a view to defining an initial resource estimate for Salebury.

FISHER CREEK PROSPECT (EPM7051-100% EXCO)

Results from one of two diamond holes drilled at the Fisher Creek Prospect have returned positive results, with hole ECDD006 intersecting 21m @ 1.08% Cu & 0.47 g/t Au from 105m depth, including 9m @ 1.59% Cu & 0.89 g/t Au from 110m down hole depth. The mineralisation is hosted in black shales and further drilling is planned to establish geometry and continuity.

The mineralisation at Fisher Creek and Salebury is hosted within black shales, and has no magnetite association making it difficult to trace in geophysical data. Further drilling will be required to determine the extent of these mineralised zones.

FUTURE WORK

Work is ongoing with three drill rigs currently employed. Future work will include exploration on the greater geological target of the Pumpkin Gully Syncline including prospects such as Crows Nest and Uncle Toms, where previous work has shown indications of similar black shale hosted mineralisation, adjacent to the southern limb of the Pumpkin Gully Syncline.

Testing of priority prospects such as Chumvale South, Eagle Hawk and Fisher Creek West will also be part of the ongoing program and new targets have been identified from recently completed Sub-Audio Magnetic (SAM) surveys at Eight Mile Creek, Turpentine South and Mount Margaret (E1 Camp).

Follow up work at the highly encouraging Tanbah prospect is also planned and new drill targets have been identified to the north and north-east of Tanbah where surface copper coincides with a significant regional magnetic anomaly.

For the complete Exco announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/64094-ASX-EXS-513903.pdf

Contact

Michael Anderson
Managing Director
Exco Resources Limited
Phone: +61-8-9211-2000



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