Cookes Creek Project (Hazelwood 100%)Significant nickel sulphide mineralisation and historic tungsten mining centre. Tungsten
- Drilling establishes JORC resource of 8.97 million tonnes at 0.17% WO3 for approximately 1.6 million metric tonne units contained tungsten.
- Further drilling undertaken in June and July 2009 - resource upgrade expected shortly.
- Variability megallurgical testing under way.
- Prefeasibility due for completion in September 2009.
- Preliminary pit design suggests less than 1:1 strip ratio for life of mine.
- Production of 200,00-220,000 MTU of tungsten per annum planned.
- Preliminary costings indicate cash operating cost of less than US$100 per MTU.
Nickel Sulphides
- Prospective ultramafic layered intrusion 15 kilometre strike length.
- Only partially tested by drilling during the 1970’s.
- Surface rockchip samples up to 5.6 per cent nickel
- Drillhole intercepts up to 2.4 per cent nickel.
- Never tested for Platinum Group Metals (PGM) – good potential to host PGM mineralisation.
- Potential to add value with modern Exploration technology.
Iron Ore - Project focused upon the south eastern corner of the Cookes Creek suite of mining tenements.
- Visual line formation is coincident with large conductance anomaly noted in the south east corner of E46/521.
- December 2007 reconnaissance sampling programme along a 1.4km segment producted an average of 53% Fe and 14 samples returned a value greater than 60% Fe.
- Further reconnaissance sampling in early 2008 returned an average value of 47.6% Fe, an average calcite iron value of 52.3% Fe and 33 samples greater than 55% Fe.
Cookes Creek Western Extension (Right to earn 70%)
Nickel Sulphides
- Extension of ultramafic layered intrusion along 12 km strike length
- Surface rock chip samples up to 0.49% nickel
Copper, Zinc and Silver
- Base metals exploration by prior explorers 1967-1994
- Drill hole intercepts at Copper Gorge up to 2.3% copper, 2.24% zinc, and 8.4 grams per tonne silver Molybdenum
- Exploration by prior explorers
- Rock chip samples up to 1650 ppm molybdenum
- Drill hole intercepts at Reedy Creek up to 154 ppm molybdenum
Arthur River
Greenfields rare metal and uranium Exploration
- Located adjacent to tantalum mining centre
- Renewed uranium exploration activity in the region
- Pure Greenfields exploration play
- Exploration targets – rare metal pegmatites and uranium pegmatites
- To be tested with geophysical surveys and geochemical sampling
Vickers Well (Hazelwood 100%)
Greenfields gold Exploration
- Located at southern flank of prospective Yandal Belt.
- Previous exploration delineated extensive gold in calcrete anomalies
- Bedrock obscured by transported cover sequences – requires drill testing.
- Adjacent to Lake Darlot; favourable geological setting for surficial uranium mineralisation.
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