Assay results from GCHR319 have been received. A large mineralised zone with elevated copper-gold values contains:

313 metres grading 0.25% copper, 0.23 g/t gold
including, using a 0.2% copper cut-off,

– 9 metres @ 0.29% copper, 0.25 g/t gold from 270 metres
– 108 metres @ 0.43% copper, 0.30 g/t gold from 310 metres
– 36 metres @ 0.43% copper, 0.29 g/t gold from 436 metres

GCHR319 was drilled at Buckley’s Hill (Figure 1) to test down-dip extensions of the shallower intercepts in GCHR298 and GCHR314 (reported to the ASX in July and November 2010). The hole
has returned a series of higher grade intercepts within a broader mineralised envelope of 313 metres grading 0.25% copper and 0.23 g/t gold from 159 metres down-hole (Figure 2). The zone appears to be expanding and the copper and gold grades remain elevated and above average. There is now reasonable evidence that substantial extensions will be found along strike to the northwest (Figure 3) and step-out core drilling will commence following completion of the current Wattle Hill program.

The cross-sections both north and south of the 6150N section are not drilled at depth. There should be a sizeable increase in the resource if similar mineralization can be drilled on the 6100N and 6050N sections, as the 6000N section also provides strong encouragement. (Figure 3)

These drilling results provide a strong vector to significant higher grade mineralisation at depth which will add to the encouraging results from the new holes completed and reported since October 2010.
These will all contribute significantly to the next resource estimate.

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