Quarterly Report December 2011

Copper Hill

  • Scoping Study delivered with plant capital cost estimate at $92 million
  • Total Geological Resource: 215 million tonnes at 0.3% copper and 0.24 g/t gold
  • Constrained Resource:153 million tonnes containing 511,000 tonnes of copper and 1.35 million ounces of gold
  • Metallurgical studies continuing

Other Projects

  • Cargo drilling completed: 6 holes totalling 757.9 metres
  • Gawler Craton copper-gold: progress with access and other approvals for planned drilling