CSE 4.35% 11.0¢ copper strike limited

***massive einasleigh – 30m @ 9.2% cu

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    Copper Strike Limited Assay Results from Einasleigh – 30m @ 9.2% Cu ASX Release 15 September 2005 Corporate Details ASX Code: CSE Issued Capital: 51.7m shares 2.9 m unlisted options Share Price $0.26 (14 Sept 05) Cash backing: $4.4 million (30 June 05) Key Shareholders: Teck Cominco Australia 16.7% GeoDiscovery Group 9.5% Registered Office: Level 9 – 356 Collins Street Melbourne, Victoria 3000 Fax: 61 3 96420698 Website: www.copperstrike.com.au Directors & Management: Mr Tom Eadie Executive Chairman Mr Peter Topham Non Executive Director Mr Neil McLean Non Executive Director Mr Terry Lees Exploration Manager For further information please contact: Tom Eadie Phone: 61 3 96400955 Mobile: 61 419 880333 [email protected] ABN 16 108 398 983 Highlights Assay results have now been received from the latest drill programme at the Einasleigh Copper Mine and Kaiser Bill prospects (both Copper Strike 100%). Best results include: • END 24 16m @ 2.72% Cu from 160m & 4m @ 7.41% Cu from 188m • END 25 30m @ 9.20% Cu from 236m • KBDD 17 25m @ 1.02% Cu from 249m (Kaiser Bill) Resource figures are currently being calculated for Einasleigh and the nearby Kaiser Bill prospect. Einasleigh figures are expected by the end of September and Kaiser Bill shortly thereafter. Drilling Results Assays from the last five holes (END 22 to END 26) of the current drilling campaign at the Einasleigh Copper Mine prospect have recently been received and are shown in Table 1. The locations of the holes are shown in plan view in Figure 1. The interpretation of the cross section containing END 25 is shown in Figure 2. Both END 24 and END 25 intersected the higher grade east limb of the deposit along strike and down plunge from the old workings. The thickness and grade of the END 25 intersection is significant because the drillhole is interpreted to be approximately perpendicular to the strike and possibly the dip of the mineralisation. END 22 and 23 were tests of the west limb. This limb, although thinner and lower grade (1-3% Cu), appears to continue for at least 200 metres along strike. END 26 tested both limbs and represents the most southerly intersection of the east limb (2m @ 4.54% Cu). At Kaiser Bill, assays have been received from KBDD 17 and 18 (Table 1 and Figure 3). Results from KBDD 17 indicate that the system continues strongly to the southwest. However the deposit appears to be getting too deep to be viable for mining this tenor of mineralisation. Therefore future drilling will concentrate on areas where mineralisation is likely to be closer to surface. 1
    Future Programme Resource estimates for both Einasleigh and Kaiser Bill are being prepared and will be ready by the end of September or shortly thereafter. Further drilling plans are being prepared for both Einasleigh and Kaiser Bill, based on recent interpretation and downhole electromagnetic surveys. In addition, geophysical surveys and drilling are being planned for the Teasdale and other copper prospects located to the south of Kaiser Bill. All of this drilling is scheduled for this calendar year. Table 1: New assay results from Einasleigh Copper Mine and Kaiser Bill prospects Drillhole From m To m Interval m Cu % Au g/t Ag g/t Comments END 22 295 297 2 1.45 <0.01 4.9 Einasleigh prospect – 1% Cu cut-off 305 308 3 2.20 <0.01 8.4 “ END 23 264 270 6 1.81 0.20 10.5 “ 273 275 2 1.12 <0.01 3.4 “ 278 281 3 1.57 <0.01 4.1 “ 284 286 2 1.28 <0.01 4.3 “ END 24 160 176 16 2.72 0.16 11.3 “ 180 183 3 2.13 0.15 9.0 “ 188 192 4 7.41 0.43 33.4 “ END 25 236 266 30 9.2 0.38 56.0 “ END 26 255 257 2 4.54 0.34 18.9 “ KBDD 17 249 274 25 1.02 0.10 5.8 Kaiser Bill prospect – 0.1% Cu cut-off 283 300 17 0.61 <0.01 2.8 “ 306 321 15 0.98 0.27 6.6 “ KBDD 18 221 233 12 0.57 0.10 3.8 “ Other Areas At Walford Creek in NW Queensland, a major drill programme is now in progress. Assays for this programme will be released when available. Tom Eadie Managing Director The information in this report as it relates to geology, geochemical and exploration results was compiled by Mr. Neil McLean, MAusIMM, who is a Competent Person and has 20 years experience in the minerals industry and the activities being reported on. Mr. McLean consents to the inclusion of this information in the form and context in which it appears in this report. For further information, please contact: Tom Eadie, Managing Director or Peter Topham Phone: 03 96400955 or 0419 880333 Phone: 03 96023626 Email: [email protected] Email: [email protected] 2
    Figure 1: Plan projection at the Einasleigh Copper Mine prospect showing historical orebody, the drilling to date and the recent intersections 3
    Figure 2: Cross section at the Einasleigh Copper Mine prospect showing the intersections in END 24 -25 and the interpreted shape of the deposit 4
    Figure 3: Plan of drilling to date at the Kaiser Bill prospect showing relative position of the recent intersection in KBDD 17 5
 
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