Altona announces further resource upgrades at Roseby project

Altona Mining is pleased to announce upgrades to the Mineral Resource Estimates for three deposits at its 100% owned Roseby Project, near Mt Isa in Queensland, Australia.

These Resources are reported at stone crushing business for sale in omana 0.3% copper lower cut-off grade.

Contained copper metal at the Resources has increased by 48% at Ivy Ann and 141% at Lady Clayre. Resources are little changed at Bedford.

The resource upgrades result from drilling undertaken at Ivy Ann and Lady Clayre in 2011 and at Bedford in 2009. There is significant potential to further increase resources, particularly at Ivy Ann and Lady Clayre. Further drilling is planned for the upcoming 2012 field season.

These deposits are envisaged as satellite feeder pits to the much larger Little Eva mine and processing plant.

The total Resource classified as copper-gold sulphide and available for mining and for processing at the proposed Little Eva plant is now: 131.2Mt at 0.53% copper and 0.10g/t gold (701,000 tonnes contained copper, 431,000 ounces contained gold).

Altona Mining Limited has a producing copper-gold-zinc underground mine and processing plant at Outokumpu in Finland. The project is ramping up to design production rate of 550,000tpa. The project produces both copper-gold concentrate and zinc concentrate for sale.

The Roseby Copper Project near Mt Isa in Queensland is one of Australia’s largest undeveloped copper projects. The Company’s aim is to increase resources well beyond 1 million tonnes of contained copper and to upgrade the DFS to a production target of 40,000tpa copper. Altona will take Roseby to a development decision in parallel with developing the Outokumpu Copper Project.

The Roseby Copper Project near Mt Isa in Queensland is one of Australia’s largest undeveloped copper resources. A Definitive Feasibility Study will be completed in mid 2012 which envisaged the production of 32,000 tonnes per annum of copper, and 15,000 ounces per annum of gold for 10 years from a large scale open pit-mining operation. Environmental and regulatory approvals are well advanced.