Musgrave Province

Mimili Project

The Mimili Project consists of wholly-owned exploration licence EL5175 (formerly EL3955). A number of follow-up targets have been identified (Figure 1).

Hydrothermal copper mineralisation was intersected in a number of holes with the most encouraging result received in drill hole MOORC016 into the Ragnar target. Best assay returned 1m @ 0.14% Cu near the end of hole. The target is still open and not yet adequately drill tested. A regional soil geochemical program over the Ragnar target area at Moorilyanna successfully identified a number of copper geochemical targets for follow-up exploration including an anomaly overlying the untested IP target near MOORC016.

A new nickel, copper gossan has been identified at the Zarek prospect. Follow-up surface geochemistry has identified a 200m long Ni, Cu, Co geochemical anomaly associated with the gossan on the margin of a discrete gabbroic intrusive. The gossan and geochemical response may reflect the surface expression of weathered nickel-copper sulphide mineralisation. Ground EM is required to test for a conductive response below the geochemical target.

A new zinc target has been identified at Roslin only 10km east of Zarek (Figure 1). The zinc gossan is associated with, Cu, Co and Mn anomalism and is co-incident with a basement ground EM response. Further work is required to better define the target prior to drilling.

The Company is currently looking for a partner to accelerate exploration in the Musgrave region.

Figure 1: EL5175 aeromagnetic image overlain by regional copper geochemistry