Options: 0.2 million
Market cap (@ 7.2 cps): $8 million
Directors’ holding: ~26%
Top 20 investors: ~57%
Mallee Bull
•Results to date
–Mallee Bull Cobar-style discovery better results to date include:
10m @ 9.01% Pb, 11.00% Zn, 41 g/t Ag, 0.77 g/t Au
6.65m @ 3.10% Cu, 34 g/t Ag, 0.93 g/t Au
9.3m @ 1.20% Cu, 19 g/t Ag, 0.14 g/t Au
10m @ 1.70% Cu, 46 g/t Ag, 0.27 g/t Au
5m @ 2.40% Cu, 28 g/t Ag, 0.60 g/t Au
7m @ 2.32% Cu, 14 g/t Ag, 0.15 g/t Au
7m @ 1.31% Cu, 19 g/t Ag, 0.56 g/t Au
6m @ 2.01% Cu, 64 g/t Ag, 0.43 g/t Au
11m @ 2.71% Cu, 36 g/t Ag, 0.26 g/t Au
10m @ 2.66% Cu, 41 g/t Ag, 0.51 g/t Au
5m @ 2.14% Cu, 41 g/t Ag, 1.29 g/t Au
10m @ 2.22% Cu, 33 g/t Ag, 0.44 g/t Au
–Strike of mineralisation = >120m
–Shallowest intercept to date = 150m below surface
–Deepest intercept to date = 310m below surface
–Mineralisation open in multiple directions, including down-dip
–Option to purchase Wirchilleba Station (Mallee Bull “footprint”)
CBH Resources Farm-in
•Key Terms of Heads of Agreement
–HOA covers all of the May Day-Gilgunnia project including Mallee Bull
–Condition precedent – CBH to obtain any necessary FIRB approval
–Peel to remain operator
–Stage 1 sees CBH earn 15% interest by payment of $1m to Peel as contribution to past expenditure and by contributing $1.5m to exploration within a 12 month period
–Stage 2 sees CBH (at its election) increase to 30% interest by contributing a further $2.5m to exploration within a further 12 month period
–Stage 3 sees CBH (at its election) increase to 50% interest by contributing a further $3.33m to exploration within a further 12 month period
–CBH may elect to form a joint venture at the end of any stage; parties can then elect to contribute on pro-rata basis or be diluted according to an industry-standard formula.
May Day Deposit
•May Day Au-Ag-Pb-Zn-Cu deposit
–8 km west of Mallee Bull discovery
–Granted 1km x 1km Mining Licence
–Shallow (40m) open pit oxide Au heap-leach operation in 1990s
–Structurally-controlled Au-Ag-Pb-Zn-Cu near-vertical deposit below pit
–Drilling by Peel in 2010 returned better results including:
16m @ 1.78 g/t Au, 42 g/t Ag, 0.25% Cu, 0.95% Pb, 1.33% Zn from 159m
27m @ 2.12 g/t Au, 27 g/t Ag, 0.11% Cu, 0.43% Pb, 0.75% Zn from 120m
3m at 1.33 g/t Au, 98 g/t Ag, 0.92% Cu, 7.29% Pb, 8.19% Zn from 140m
10m at 2.15 g/t Au, 28 g/t Ag, 0.06% Cu, 0.34% Pb, 0.39% Zn from 213m
–Mineralisation extends from base of pit to at least 200m below surface and open at depth
–Large untested magnetic anomaly below May Day
–Cobar–style precious/base metal system?
–May Day Deeps drilling planned
Mundoe
•Location
–50 km south of Mallee Bull
•Key facts
–2 km long multi-element geochemical anomaly
–Coincident geophysical anomalies
–Strong historic drill results including:
3m @ 2.90% Zn, 0.87% Zn, 30 g/t Ag and 0.4 g/t Au
6m @ 1.66% Cu, 103 g/t Ag
3m @ 122 /t Ag, 0.3 g/t Au and 6m @ 0.42% Cu, 14 g/t Ag
12m @ 1.09% Cu and 60 g/t Ag
–Follow-up drilling in 2005 appears to have failed to adequately test previous mineralisation.
Apollo Hill
•Resource Estimate
–Updated JORC inferred resource estimate completed August 2011
–17.2 Mt at 0.9 g/t Au for 505,000 oz (using 0.5 g/t cut)
•Apollo Hill 2012 Workplan
–Metallurgical testwork underway
–Scoping study
–Regional exploration
–Aboriginal Heritage over new ELs and lake edge
Attunga
•Attunga Tungsten Deposit:
–Updated JORC inferred resource estimate completed April 2008
–1.29 Mt @ 0.61% WO3 and 0.05% Mo
–March 2009 metallurgical test work identifies potentially simple process route; high grade WO3 concentrates produced
•Attunga Copper Mine
–75m at 1 g/t Au, 0.87% Cu, 0.09% Mo, 22 g/t Ag, 0.06% Bi
–5.6m at 0.44% Mo, 0.7 g/t Au, 12 g/t Ag, 0.45% Cu and 1.4m at 22.7 g/t Au, 13 g/t Ag, 0.7% Cu
•2012 Forward Program:
–Seeking potential JV/offtake/development partners
Ruby Silver
•Ruby, Tulloch, Rockvale Mines
–~400,000 ounces silver at ~800 g/t Ag historic production
–Lodes up to 1.5 metres wide; traceable at surface to NE/SW for up to 1,200m
–Silver-rich massive sulphide ore grading up to 60,000 g/t silver
–1968 drilling at Ruby returned 5.1m grading 6,500 g/t silver; never followed up
•Ruby Silver Exploration/Forward Plan
–April/May 2011 – geological mapping and sampling completed; GIS
–May 2011 – 18 line km IP geophysics survey; multiple strong shallow chargeable anomalies identified proximal to historic workings
–March 2012 – RC drilling completed
Rise and Shine
•Rise and Shine
–Historic production of more than 180,000 oz gold
–Gold workings cover >4km of strike along Rise and Shine Shear Zone
–Structurally similar to Hydes-Macraes Shear Zone, host to muti-million oz Macraes gold mine
–New exploration model suggests Rise and Shine Shear Zone possible “flatter” lying than previously assumed offering potential for large-tonnage, low-grade targets
•2012 forward program
–Surface mapping and geochemical surveys
–RC/RAB drilling, if warranted
Be the first to comment