Northern Territory
Mineral Investment Opportunities
October 2014
© Northern Territory Government, October 2014 Disclaimer
This publication has been compiled by the Northern Territory of Australia as a guide ONLY to the exploration and investment opportunities in the Northern Territory of Australia and is not intended to qualify for, be utilised or interpreted as a prospectus for any contributing party or to give any impression that the Northern Territory of Australia endorses any particular exploration project. Further information should be obtained directly from any contributing entity (including by way of due diligence enquiries) where you are considering opportunities outlined in this publication.
Reliance should not be placed upon any information contained in this publication for the purpose of making any legal, corporate or investment decisions. The Northern Territory of Australia recommends any person proposing to invest in any exploration activity or entity conducting exploration in the Northern Territory of Australia to obtain relevant independent fi nancial and legal advice which specifi cally takes into account matters relating to your particular situation. The Northern Territory of Australia disclaims any liability or responsibility or duty of care towards any person for any loss or damage whatsoever caused by the use of, or reliance on the information contained in this publication.
The Northern Territory of Australia compiled this publication using materials and information provided by private sector entities. While all care has been taken to ensure that information contained in this Northern Territory Mineral Investment Opportunities publication is correct at the time of publication the Northern Territory of Australia has not independently verifi ed the information provided. Changes in circumstances of the private sector entities contributing to this publication after the time of its publication may impact on the accuracy of information contained in it. The Northern Territory of Australia gives no warranty or assurance, and makes no representation as to the accuracy of any information or advice contained in this publication provided by any private sector entities, or that such information or advice is suitable for use in relation to legal, corporate or investment decisions.
Contact Details
Dr. Ian Scrimgeour Executive Director
Northern Territory Geological Survey Tel: +61 8 8999 5377
e-mail: [email protected] Fiona Park
Director Investment Attraction
Northern Territory Geological Survey Tel: +61 8 8999 1385
e-mail: fi [email protected]
www.core.nt.gov.au
Project Status Summary
STATUS COMMODITY PROJECT
Grassroots Exploration Opportunities
Bowgan Minerals Au, Cu, Ag Neutral Junction
Bowgan Minerals U, Au, base metals Bowgan
Crossland Strategic Metals REE, U Mount Stafford
Red Metal Cu, Au, NI Irindina
Red Metal Cu, Au Tennant Creek
Spectrum Rare Earths Base metals, Au Calvert
Daylight Jack Diamonds and base metals Kirkimbie
Ismins Au, Ag, Cu, Sn Compass Creek
Early Stage Exploration
Crossland Strategic Metals U, Au, base metals Chilling
Outback Metals Sn, W, Au, Ag, Cu Maranboy/Yeuralba
Outback Metals SN (Cu, Au) Mt Wells
Spectrum Rare Earths REE Stromberg and Skyfall HREE
District
Spectrum Rare Earths REE, U Quantum
Thundelarra Exploration U Ngalia Basin
TNG Ltd Cu Mount Hardy
Uranium Equities U, PGE, Au Nabarlek
Advanced Exploration
Alligator Energy U Tin Camp Creek
Crossland Strategic Metals REE Charley Creek
Deep Yellow U Napperby
KGL Resources Cu, Zn, Ag, Pb Jervois
Minemakers P (P2O5) Wanarah
Rum Jungle Resources Potash Karinga Lakes
Rum Jungle Resources P (P2O5) Ammaroo
Thor Mining Au Spring Hill
Project Development
Arafura Resources REE Nolans
TNG Limited V, Ti, Fe Mount Peake
Thor Mining W, Mo Molyhil
Tellus Holdings NaCl Chandler Salt Mine
Project Status Defi nitions
PROJECT STATUS DEFINITIONS
Grassroots Exploration Opportunities This category is for exploration tenements with identified prospectivity, but with little or no drilling undertaken.
Early exploration This project is at a preliminary stage of investigation. While the company might have reported some exploration results, the information is not yet sufficient to estimate the size of a Mineral Resource according to the JORC Code.
Advanced exploration Exploration results have been sufficient to estimate a Mineral Resource or Ore Reserve according to the JORC Code.
Project development Having defined Mineral Resource or Ore Reserve according to the JORC Code, the company is now undertaking studies and/or seeking approvals to determine whether the project can feasibly be developed into an operating mine.
PROJECT DEVELOPMENT DEFINITIONS Scoping study
A scoping study is a preliminary economic and technical study to understand the approximate economics and viability of various development options for the mining and treatment of a mineral deposit. It will involve a conceptual or preliminary mine plan and is used as the basis for determining whether to proceed to more detailed studies. Scoping studies are developed copying plans and factoring known costs from existing similar projects completed elsewhere and are accurate to within plus or minus 35-50%.
Feasibility Studies
A Preliminary Feasibility or “Pre-Feasibility Study” (PFS) is more detailed than a Scoping Study. A Pre-Feasibility Study is used in due diligence work, determining whether to proceed with a Definitive Feasibility Study and as a
“reality check” to determine areas within the project that require more detailed attention. Pre-Feasibility Studies are done by factoring known unit costs and by estimating gross dimensions or quantities once preliminary technical, engineering and mine design has been completed. Pre- Feasibility Studies are generally accurate to 20-30%.
A Definitive Feasibility Study (DFS) is the most detailed study and will determine definitively whether to proceed with the project. A Definitive Feasibility Study requires a high level of technical, engineering and design work as well as detailed capital and operating budget figures for the project. Definitive Feasibility Studies are accurate to within 10-15%.
A Bankable Feasibility Study (BFS) is a Definitive Feasibility Study, with a focus on financial and budget aspects, that is presented to financiers to obtain project financing. It is also accurate to within 10-15% depending on the requirements of the financial institution.
OTHER DEFINITIONS JORC Code
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves is called ‘the JORC Code’.
The JORC Code is a professional code of practice that sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves.
The JORC Code provides a mandatory system for the classification of minerals Exploration Results, Mineral Resources and Ore Reserves according to the levels of confidence in geological knowledge and technical and economic considerations in Public Reports.
Any Public Reporting of Exploration Results, Mineral Resources or Ore Reserves must be signed off by a Competent Person in accordance with the JORC Code.
A Competent Person must be a Member or Fellow of The Australasian Institute of Mining and Metallurgy, or of the Australian Institute of Geoscientists, or of a ‘Recognised Overseas Professional Organisation’ (the 2004 Edition) or ‘Recognised Professional Organisation’ (2012 Edition).A Competent Person must have a minimum of five years’ experience working with the style of mineralisation and type of deposit under consideration and relevant to the activity which that person is undertaking.
COMMODITY COMPANY PROJECT STATUS PAGE URANIUM
U Alligator Energy Tin Camp Creek A 6
U, Au, base metals Crossland Strategic Metals Chilling E 13
U Deep Yellow Napperby A 20
U Thundelarra Exploration Ngalia Basin E 24
U, PGE, Au Uranium Equities Nabarlek E 31
RARE EARTHS
REE Arafura Resources Nolans PD 39
REE Crossland Strategic Metals Charley Creek A 43
REE Spectrum Rare Earths Stromberg and Skyfall HREE
District
E 51
REE, U Spectrum Rare Earths Quantum E 57
BASE METALS
Cu, Zn, Ag, Pb KGL Resources Jervois A 66
Cu TNG Ltd Mount Hardy E 72
FERROUS METALS & FERROALLOYS
V, Ti, Fe TNG Limited Mount Peake PD 79
W, Mo Thor Mining Molyhil PD 86
GOLD
Au Thor Mining Spring Hill A 90
U, Au, PGE Uranium Equities Nabarlek E 93
PHOSPHATE, POTASH
P (P2O5) Minemakers Limited Wonarah A 101
Potash Rum Jungle Resources Karinga Lakes A 108
P (P2O5) Rum Jungle Resources Ammaroo A 114
SALT
NaCl Tellus Holdings Chandler Salt Mine PD 119
TIN
Sn, W, Au, Ag, Cu Outback Metals Maranboy/Yeuralba E 125
Sn (Cu, Au) Outback Metals Mt Wells E 132
Grassroots Exploration Opportunities
Au, Cu, Ag Bowgan Minerals Neutral Junction G 138
U, Au, base metals Bowgan Minerals Bowgan G 147
REE, U Crossland Strategic Metals Mount Stafford G 153
Cu, Au, NI Red Metal Irindina G 158
Cu, Au Red Metal Tennant Creek G 163
Base metals, Au Spectrum Rare Earths Calvert G 168
Diamonds, base metals Daylight Jack Kirkimbie G 178
Au, Ag, Cu, Sn Ismins Compass Creek G 185
Key to symbols
PD: Project Development A: Adanced Exploration E: Early Stage Exploration G: Grassroots Exploration Opportunities
Northern Territory
Mineral Investment Opportunities
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Outback Metals Limited
Commodity Tin, Tungsten, Gold, Copper, Silver Project name MARANBOY/YEURALBA Project maturity Early Stage Exploration
Company name Outback Metals Ltd
Company type Listed on the Australian Securities Exchange (ASX:OUM) Company size Junior explorer (<US$10m)
Project details The project is 100% owned by Outback Metals.
Current project status Previous exploration shows very high grade resources with significant potential for very large resource tonnages. Detailed data base available. W @ 0.95%, Sn @ 2% and gold @ 4g/t.
Location and size The project is located 60km south east of Katherine & is accessed by bitumen highways from Katherine. The project area is about 4,000 km
2.
Current Infrastructure Bitumen road, telephone. (Railway, gas pipeline etc 30 kms).
History of project area Shallow surface deposits were mined for copper, tungsten &
gold between 1915 and 1952. It is estimated that 800 tonnes of tin were recovered. Government exploration has outlined potentially substantial tungsten, tin and gold deposits at Yeuralba. Tungsten intersections grade to 0.9% over 5 metres.
The Maranboy area has estimated resources of 725,000 tonnes grading 2% Sn, and the large mineralized target zones in the Maranboy – Yeuralba project have potential for very large resources. At least 30 deposits are known in the area.
Business development plan
The company plans further geophysical surveys & field work around known mineralised areas & in the numerous areas of new discoveries, aiming to become a producer in the near future.
Company strategy Invite partners and investors to become involved in the projects. Progress exploration to production as quickly as possible.
Target timeline to production
Subject to securing investment and achieving desired drilling results, the company envisages the following potential timeline to developing the project into production:
• Further drilling to grow and further define substantial resource 2015
• Feasibility study and market research 2016
• Construction 2017
• Potential production from 2017 Investment type
sought
The company would consider investment in the following forms:
• Sale of project(s)
• Joint venture into the project(s)
• Sale of equity in the company or projects Company contact Graham Chrisp - Executive Chairman
Details
Phone: + 61 8812 00488, +61 419 540 282, +618 8298 1045Email: [email protected]
UpdatedSeptember2014
Outback Metals Limited
COMMODITY: TIN, TUNGSTEN, COPPER, GOLD, SILVER
COMPANY CONTACT DETAILS
Company: Outback Metals Limited (ASX – OUM) Contact Officer: Graham Chrisp
Position: Executive Chairman
Phone: +61 8812 00488, +61 419 540 282, + 61 8 8298 1045
Fax: + 61 8 8296 0266
Email: [email protected] Web: www.outbackmetals.com PO Address: 33 Lascelles Ave Hove South Australia 5048 Head Office: 33 Lascelles Ave Hove South Australia 5048 Number of Shares: 231,687,609
ASX Code: OUM
PROJECT DETAILS
Project Name: MARANBOY-YEURALBA TIN-TUNGSTEN-GOLD-(COPPER) PROJECT Location: 60 km SE of Katherine, Northern Territory, Australia
Project Tenements: 100% wholly owned.
Mineral Leases: MLN 658, MLN 661 - 672, MLN 679 - 680, MLN 1137 and ML1138.
Exploration Licences EL10423, EL 25904, EL 25979, EL 26017, EL 29784 and EL 29866, covering about 4,000 square kilometres
M AP SHOWING PROJECT LOCATION
Figure 1: Maranboy/ Yeuralba location map
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discoveries by other companies in the area include the Maud Creek Gold Deposit (about 5 million tonnes at 4.5 grams of gold) and the large Carpentaria copper deposit.
Yeuralba and Maranboy both contain structurally hosted mineralised veins with the nearby intrusive source containing additional greisen style tin mineralisation. However, the Yeuralba W est area has a strong tin - tungsten – gold association (as is shown by previous exploration and from the published historic resources) whereas the Yeuralba East area also has numerous occurences of copper, gold and tungsten.
The area is significantly under-explored and has substantial potential for a very large tonnage of tungsten, tin, gold (copper) resources to be discovered. The 22 recorded mineral occurrences are structurally controlled and are located at the intersections of north east trending banded iron formations and north west shear structures.
Plan Showing Total Magnetic Intensity (TMI) Image of the Maranboy Deposits & the newly identified North West Trending Extensional Structure
Plan Showing TMI Magnetic Image of the Deposits in the Yeuralba Area
Historic Resource Estimates (excludes large recently outlined target resource areas)
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discoveries by other companies in the area include the Maud Creek Gold Deposit (about 5 million tonnes at 4.5 grams of gold) and the large Carpentaria copper deposit.
Yeuralba and Maranboy both contain structurally hosted mineralised veins with the nearby intrusive source containing additional greisen style tin mineralisation. However, the Yeuralba W est area has a strong tin - tungsten – gold association (as is shown by previous exploration and from the published historic resources) whereas the Yeuralba East area also has numerous occurences of copper, gold and tungsten.
The area is significantly under-explored and has substantial potential for a very large tonnage of tungsten, tin, gold (copper) resources to be discovered. The 22 recorded mineral occurrences are structurally controlled and are located at the intersections of north east trending banded iron formations and north west shear structures.
Plan Showing Total Magnetic Intensity (TMI) Image of the Maranboy Deposits & the newly identified North West Trending Extensional Structure
Plan Showing TMI Magnetic Image of the Deposits in the Yeuralba Area
Historic Resource Estimates (excludes large recently outlined target resource areas)
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M ARANBOY (TIN)
MARANBOY LODE U/G 150-160,000 t at 2.5%-3.0% TIN STANNUM KING LODE U/G 10-13,000 T AT 2.0% - 2.2% TIN
MARANBOY 500-600,000 AT 1.5% - 2.0% TIN (total 725,000 tonnes at 2% Sn)
YEURALBA (TIN, TUNGSTEN, COPPER, GOLD) O’SULLIVANS 500,000T AT 0.25% SN
GATES CLAIM 1,750,000T SN, 1,000,000T 0.5% W
Figure 2: Maranboy/ Yeuralba regional mineralisation.
PLAN OF THE SUBSTANTIAL NEW TARGET ZONES IDENTIFIED IN THE YEURALBA – MARANBOY REGION
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Metricated & abbreviated data extracted from Table 4: BMR Record 1953/32 YEURALBA MINERAL FIELD Summary of mineral occurrence dimensions & grab sample analytical data ~ Walpole & Drew
Site Prospect Exposure Vertical Mineralised Analytical Data Economic Principal
Code Name Length Width Area Yield Portion Sn WO3 Au Bi2O3 Mineralogy Lithology
m m m2 tonnes/vm % % % g/t % by code by code
Ya4 Black Diamond 121.9 91.4 11148 29,500 100 - 0.95 - 0.46 W o, Sch, Bis QTG
Ya5 - 91.4 30.5 2787 7,400 100 - 0.65 - - W o, ?Au QG Ya6 - 182.9 30.5 5574 14,700 100 - - - - Wo QG Ya7 - 121.9 30.5 3716 9,800 100 - - - - Wo QG
Ya9 - 182.9 30.5 5574 14,800 100 - 0.6 - - Wo QG
Ya12 - 61.0 30.5 1858 5,000 100 - - - - W o & Sch QG Ya13 Vivian 304.8 15.2 4645 12,000 100 - 0.38 - - W o & Sch QG Ya14 Black Cat 274.3 30.5 8361 22,000 100 - - - - Wo QG
Ya17 The Gates 426.7 91.4 39019 103,000 100 - 0.85 - - W o, Sch & ?Au QG
Ya18 - 121.9 30.5 3716 9,800 100 - - - - W o, Sch & ?Au QG
Ya20 O'Sullivans Hill 335.3 243.8 81755 216,000 50 0.59 - - - Cas TOUR
Ya21 - 182.9 45.7 8361 22,000 75 - - - - Cas TOUR
Ya23 - 670.6 121.9 81755 216,000 50 0.16 0.6 - - Cas & W o TOPZ
Ya24 Zimmons Claim243.8 91.4 22297 59,000 75 - - - - Cas & W o TOPZ
Ya25 - 91.4 45.7 4181 11,000 75 - - - - Cas & W o TOPZ
Ya26 - 91.4 45.7 4181 11,000 80 - - - - Cas, W o & Au
TOUR/TOPZ Ya27 Lynas Claim 91.4 91.4 8361 22,000 100 0.05 - 4.0 - Cas, W o & Au TOUR/TOPZ
789,000 tonnes/vertical metre
"-" = no data
Cas = cassiterite, W o = wolframite, Sch=
scheelite, Bis= bismuthinite, Au= gold
QTG= quartz-tourmaline greisen, QG= quartz greisen, TOUR= tourmalinite, TPOZ = topazite
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PROPOSED FUTURE ACTIVITIES
Several areas with potential for substantial resource increases have recently been outlined in the Maranboy – Yeuralba area that will be investigated, including;
• Large relatively under-explored areas around areas of proven historical mineralisation.
• Large outlined porphyry/ greisen style mineralisation model has potential to provide large tonnage.
• Mineralisation potential open along strike and in untested sub-parallel veins.
• Geological and mineralogical correlations between Maranboy and Yeuralba fields.
• The large potential to contain further commercial quantities of tin, gold, copper and tungsten.
BUSINESS DEVELOPMENT PLAN
Exploration of the potentially large Maranboy/ Yeuralba project in conjunction with the development of Outback’s 100% owned high grade Mt W ells and Mt W ells South polymetallic project (with high tungsten, tin and copper grades) is a priority for Outback Metals. In addition the Mt Diamond, Copperfield and Emerald Hill projects will be evaluated to increase production targets for resources that can be trucked to Mt W ells for treatment..
Outback Metals are also interested in various forms of investment opportunities for the exploration and development of their resource projects.
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Outback Metals Limited
Commodity Copper, Tin, Gold, Tungsten (uranium, rare earths etc) Project name MT WELLS & MT WELLS SOUTH
Project maturity Early Stage Exploration Company name Outback Metals Ltd
Company type Listed on the Australian stock exchange (ASX:OUM) Company size Market capitalisation $1.5m at August 2013
Project details The project is 100% owned by Outback Metals Current project
status
Based on drilling, the company estimates a non-JORC compliant resource of about 1.1 million tonnes @ 1% tin (Sn) and about 1 million tonnes at 1.5% copper. Additional high grade copper/silver (gold) resources are located at OUM’s nearby Mt Diamond and Copperfield.
Substantial new tungsten-rich exploration targets have recently been outlined by geophysical interpretation etc.
Location and size The project is located approximately 200km south of Darwin & about 35 kilometres from Pine Creek, & is accessible from the bitumen Stuart Highway & maintained roads. The project area covers about 60 km
2
Infrastructure The project is located near to a major gas pipeline and the Adelaide- Darwin railway. An existing process plant, accommodation, dams etc are located adjacent the mine site. A substantial exploration adit &
railway has already been constructed into the Mt Wells ore zones and metallurgical testing carried out.
History of project area
The area was mined on a small scale about 100 years ago. Since then, mining has been minimal. Substantial infrastructure exists nearby.
Business development plan
Further drilling is needed to define a JORC-compliant resource for the current target resources with the intention of commencing a mining operation and tin/copper production facility. Significant potential exists to substantially expand the resources along strike, laterally & also at depth in the tungsten-rich porphyry zones..
Company strategy The company is focussed on its exploration interests in the Northern Territory in areas which have hosted previous mineral discoveries &
that have significant large potential for expansion of resources.
Target timeline to production
Subject to securing investment and achieving desired drilling results, the company envisages the following potential timeline to developing the project into production:
• Further drilling to grow and further define resource 2015
• Feasibility study 2016
• Construction 2017
• Potential production from 2018
Investment type sought
The company would prefer investment in the following forms:
• Sale of project(s)
• Sale of entire company
• Sale of equity in company Company contact
details
Graham Chrisp - Executive Chairman
Phone: +61 8812 00488, +61 419 540 282, +618 8298 1045
Email: [email protected]
Outback Metals Ltd
COMMODITY: TIN, TUNGSTEN AND COPPER (GOLD, SILVER)
COMPANY CONTACT DETAILS
Company: Outback Metals Limited (ASX – OUM) Contact Officer: Graham Chrisp
Position: Executive Chairman
Phone: +61 8812 00488, + 61 8829 81045, +61 419 540 282
Email: [email protected] Web: www.outbackmetals.com
Head Office: 33 Lascelles Ave Hove South Australia 5048 Number of Shares: 240m, 65% held by Graham Chrisp, Chairman
ASX Code: OUM
PROJECT STATUS
Outback Metals is seeking partners for involvement in the Mt Wells Project.
PROJECT DETAILS
Project Name: Mt Wells Polymetallic Project - Tin, Tungsten, Copper (Gold and Silver) Location: Mt Wells, Northern Territory, Australia
Project Tenements: 100% wholly owned by Outback Metals Ltd.
Mineral Leases, MLN 164, 165, 196 – 200, 463, 465 – 467 Mineral Claims, MCN 723 & 2631
Exploration Licence 22301 53.02 km2 Exploration Licence 28549 5.84 km2
CURRENT ESTIMATED (DRILLED) RESOURCES
Mt Wells: 1,037,000 tonnes grading 1.01% Tin 971,000 tonnes grading 1.5% Copper
Copperfield&
Mt Diamond: 240,000 tonnes grading 5.5% Copper 150g/tonne Silver (with Gold credits)
MAP SHOWING PROJECT LOCATION
Figure 1: Mt Wells location map.
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HISTORY OF THE MT WELLS PROJECT
Mt Wells is located approximately 200km south east of Darwin, accessible mostly by bitumen highways from the Stuart Highway (Figure.1). Mt Wells is within close proximity to telecommunications, the gas pipeline and standard gauge railway to Darwin and Adelaide.
The elevated hill at Mt Wells comprises numerous parallel tin, copper, tungsten tension structures dipping 50-80 degrees south east with a drilled strike extent so far of up to 1km.
Host rock comprises siltstone and greywacke of the Burrell Creek Formation, which locally forms a north trending anticline. Individual lode widths vary between 0.5 and 5 metres.
Contacts with the host rock are sharp and there is no evidence of displacement on the structures. The Main Lode contains predominantly Cassiterite and Wolfram (with some Copper and Molybdenum) which coarsens toward the hanging wall and is commonly brecciated adjacent to the typically sharp contacts. Other lodes are well identified with about 80 drill holes completed.
Recent surface exploration shows the resources are open at depth and along strike in both directions. Additional ore zones intersected during the 2008 drilling and recent surface exploration of the parallel structures and the outlining of new potentially large porphyry zones add further weight to the potentially substantial increase in resources with the possibility for a large open cut operation.
The current published resource comprises 400,000t at 0.4% Sn (open cut) and 737,000t at 1.38% Sn (underground). Mt Wells also hosts a copper target of 971,000t at 1.5% Cu (source: NT Government publications); in addition credits may accrue from tungsten, silver and gold which are known to occur in association with the tin and copper mineralisation.
Tungsten grades recently recorded in drill cores are up to 0.72 W.
CURRENT PROJECT STATUS
Recent work at Mt Wells indicates significant potential for a substantial expansion of the previously-published tonnages in newly discovered mineralised areas both north and south of the known strike and also adjacent the known mineralised lodes, as well as in a potentially large mineralised porphyry target zone under Mt Wells. Wolfram grades of up to 0.72% W (and uranium, rare earths, manganese etc.) have been recorded,
Substantial drilling has been carried out on the central mineralised zones and indicated tonnages and (high) grades published (e.g. average 1.38% Sn and 1.5% Cu). Potential exists to open-cut the combined tin, tungsten and copper resources at Mount Wells and gain access to the potentially large porphyry zones at depth. Additional credits may be recovered from tungsten, tantalum, gold and silver in the near surface ore zones.
Extensions of mineralised zones already outlined may add significant potential through the detailed exploration of tin/ copper/ arsenic geochemical anomalies.
The currently-indicated two kilometre strike length of the contiguous anomalous vein structures, and the size of the indicated porphyry body under Mt Wells, remains open (Figure.2).
Detailed near mine and regional work will continue through 2014/15.
Importantly, the availability of the existing infrastructure at Mt Wells (water dams, roads, accommodation and other buildings, process plant in addition to a substantial exploration adit constructed into Mt Wells etc.) will assist in a relatively fast and low cost start to production at Mt Wells.
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Newly discovered copper geochemical anomalies extending in all directions from Mt Wells Mine (results in ppm).
Figure 3: Extensional potential of the Mt Wells mineralisation.
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Newly discovered tin geochemical anomalies extending in all directions from Mt Wells mine (results in ppm).
Mt Wells cross section showing previous drilling of main copper/tin lodes & conceptual sketch of mineralised porphyry body underneath. (Note the areas of potential near- surface mineralised zones not yet drilled could add significantly to resource tonnages).
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PROPOSED FUTURE ACTIVITIES
Numerous areas for potential for increased tonnages have been identified including:
• Areas where mineralisation has already been identified at surface (some of high grade) which have not been tested by drilling.
• Expanding the estimated resource zones to include tungsten, gold and silver in addition the known tin and copper mineralisation at both Mt Wells and Mt Wells South target zones.
• Exploring a near-surface broad zone of copper mineralisation which has been identified and may represent a zone of secondary copper enrichment that may enhance the potential for open cut mining of the defined tin-copper deposit.
• Continue with regional geochemical exploration program to include all areas of the Mineral Leases, Mineral Claims and Exploration Licenses (EL 22301 and EL 28549).
BUSINESS DEVELOPMENT PLAN
Outback recognizes recent exploration in the Mt Wells area has significantly enhanced the potential size and value of the Mt Wells and Mt Wells South projects.
Development of the Mt Wells and the Yeuralba - Maranboy poly-metallic projects is a priority for Outback Metals. Exploration needs to continue to progress through to JORC compliant resources with the intention of eventual mine production.
In conjunction with the successful development of a Mt Wells poly-metallic production operation, Outback Metals will work to extend the process plant life through the discovery and
development of additional resources within the extensive exploration tenements at Mt Wells in addition to the nearby high-grade Copperfield and Mt Diamond copper/silver deposits, and the very large potential for expansion of the copper/gold/tin/tungsten project at Outback’s 100%
owned Maranboy/ Yeuralba areas and the Emerald Hill tin/tantalite deposits.
Updated September 2014
