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  • Speewah Metals To Be Known As King River Copper 0 comments
    Apr 30, 2013 3:21 AM

    Speewah Metals (ASX: SPM) shareholders have approved the change in the company's name to King River Copper Limited.

    The name change more accurately reflects its current focus on copper and gold within the Speewah Dome, which has identified 13 lithostructural and geochemical targets coincident with faults within the area.

    Two of these targets - Todhunter and Greys-Hayden - have been subject to further detailed review to select the best locations for drilling.

    The 2.5 kilometre long Todhunter fault zone is north-south trending that notably appears to truncate a series of NNW trending faults and veins to the east and it is these intersections that may control gold-copper mineralised shoots along the north south fault.

    A simple reconstruction of the dips on the various faults and their intersections suggests this zone of high grade gold mineralisation may occupy a shoot plunging steeply to the northwest.

    Speewah has also built a comprehensive dataset at the Grey-Hayden location comprising airborne magnetics, gravity, SAM and IP surveys, surface sampling and some drilling, and very similar reprocessing to that undertaken at Todhunter is underway.

    Exploration in 2013 will prioritise these two targets and the delineation of further targets throughout the Speewah Dome.

    This includes collecting soil and rock samples over all new VTEM and lithostructural-geochemical targets, infill soil sampling of priority targets as well as potential reverse circulation or diamond drilling on the highest order targets to test mineralisation model down dip.

    Separately, the Company has lodged its Research and Development tax incentive claim for $1.38 million which is expected to be received in the next 4-6 weeks.

    This includes an advanced overseas funding approval for activities relating to the processing technologies to develop a flowsheet for Speewah's titanium, vanadium and magnetite iron ore deposit in the Hart Dolerite of Western Australia.

    Speewah had $1 million in cash as of 31 March 2013.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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