"CYU has been conducting a greenfields exploration program and...

"CYU has been conducting a
greenfields exploration program
and generating exploration success
as per the Mount Dorothy copper
s u l p h i d e d i s c o v e r y . A n e w
exploration program in Chile is
well underway targeting large scale
copper deposits. This is the first
time a Chinalco related enterprise
has directly invested in the global
premier copper market, Chile. In
concert with CYUs cornerstone
investor, Chinalco Yunnan Copper,
CYU is reviewing development
opportunities in China and Laos.
Highlights 2010
Exploration Projects
Ground pos i t i o n re f i ne d t o
1500km2 of highly prospective
tenure in Queensland and Chile.
Discovery of new copper sulphide
zone at Mount Dorothy as part of
the new Mary Kathleen Joint
Venture with Goldsearch Ltd.
Discovery and estimation of
inferred resources at Gem in
Copper and definition of a revised
JORC inferred resource at Elaine
Dorothy in Uranium and Rare
Earth Elements.
S i g n i f i c a n t s h a l l o w
mineralisation encountered at
Stanleys Hope.
Initial surface work completed at
Humito in Chile, drill targets
identified.
Chinalco Yunnan Copper
Partnership
CYU has maintained a partnership
wi t h i t s l arges t s harehol ders ,
Chinalco Yunnan Copper Group
Ltd for over three years. In this
time, exploration properties have
been explored and more advanced
opportunities evaluated. During the
y e a r , a m e m o r a n d u m o f
unde rs t andi ng was s i g ne d t o
evaluate and explore opportunities
in Laos and China jointly with
Chi nal co Yunna n Exp l or at i o n
companies. This has resulted in the
Laos Copper Silver Exploration JV.
This is expected to result in short
term resource growth in a series of
projects in which CYU is farming
into on excellent terms.
The Future
CYU will continue to test and add value
to exploration targets of greenfields
nature. Applying best geological science
and ground selection criteria, CYU has
turned over 80% of original tenure
since IPO in 2007 which has been
dropped. This approach has resulted in
discoveries in the past at Gem, a new
copper discovery north of Cloncurry
and Mount Dorot hy, between
Cloncurry and Mt Isa.
Offshore activities include an active
program on the Humitos Copper
Porphyry property with additional
C h i l e a n c o p p e r p a r t n e r s h i p s
expected in the future."

From cyu quarterly

The Musgrave area is my major interest.