Cookes Creek Project (Hazelwood 100%)

Significant nickel sulphide mineralisation and historic tungsten mining centre.

Tungsten

• Prefeasibility Study indicates 12 year operational life
• Definitive feasibility study in progress
• Future source of feedstock for Hazelwood’s vertically integrated business
  
• Highly pure tungsten concentrate – free from common contaminants
• High category Ore Reserve with low life of mine strip ratios
• Near surface and readily accessible by open pit mining
• Intensively drilled and mostly Measured/Indicated Resource
• Excellent metallurgy – demonstrated by large scale pilot trials
• Produce 2-3% of world’s primary tungsten or up to 2/3rds  of feedstock for HAZ downstream operations
  

Nickel Sulphides

• Prospective ultramafic layered intrusion approximately 20 kilometres 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.
• Recent exploration drilling by Hazelwood demonstrates significant nickel sulphides
  
• Many intercepts >1% Ni within 120m of surface
  
• Numerous geophysical targets remain to be tested with drilling

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 Cookes Creek ultramafic layered intrusion
• Surface rock chip samples up to 0.49% nickel
• Geophysical conductance targets delineated near ultramafic

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

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.