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Technical Report 3297

Exploration Permit for Minerals No 8648 ‘Mount Fort Constantine’, Queensland

Partial Relinquishment Reportfor the Period Ended 12 February 2004

15 October 2004

XSTRATA COPPER EXPLORATION PTY LTD

TECHNICAL REPORT

No. 3297

TITLE: EXPLORATION PERMIT FOR MINERALS No 8648 ‘MOUNT FORT CONSTANTINE’, QUEENSLAND PARTIAL RELINQUISHMENT REPORTFOR THE PERIOD ENDED 12th FEBRUARY 2004

HOLDERS: MOUNT ISA MINES LIMITED WMC RESOURCES

OPERATOR: XSTRATA COPPER EXPLORATION PTY LTD

250,000 SHEET: SF54-02 CLONCURRY

100,000 SHEET: 7056 CLONCURRY7057 CLONAGH

INVESTIGATIONSCONDUCTED BY: TV HARVEY, CJ SALT, R EVANGELISTA & KA BRAUNS

AUTHOR: KA BRAUNS, TV HARVEY

SUBMITTED BY: RDM WILSON

DATE: OCTOBER 2004

COPY: 2

DISTRIBUTION

1. Xstrata Copper Exploration Pty Ltd, Mount Isa Library2. Department of Natural Resources, Mines & Energy,

Brisbane3. Xstrata Copper Exploration Pty Ltd, Exploration Library4. WMC Exploration, Perth

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CONTENTS

1. INTRODUCTION.............................................................................................12. LOCATION AND ACCESS................................................................................13. TENURE....................................................................................................14. REGIONAL GEOLOGY.....................................................................................25. PREVIOUS EXPLORATION...............................................................................26. WORK COMPLETED DURING THE TERM OF TENURE......................................36.1. Introduction......................................................................................36.2. Regional Programs...........................................................................4

6.2.1. Enzyme Leach Soil Program..........................................................46.2.2. WMC Regional Gravity Survey............................................................56.2.3. MIMEX Detailed Aeromagnetic Surveys.........................................5

6.3. FC2 Prospect.........................................................................................56.3.1. Introduction...................................................................................56.3.2. Soil Geochemistry..............................................................................66.3.3. WMC Geophysical Surveys............................................................66.3.4. MIMEX Electromagnetic Survey.....................................................76.3.5. MIMDAS IP-Resistivity/MT Surveys......................................................76.3.6. Drilling...........................................................................................86.3.7. MIMEX Down-hole Logging............................................................9

6.4. FC3 Prospect.........................................................................................96.4.1. Introduction...................................................................................96.4.2. WMC Geophysical Surveys..........................................................106.4.3. MIMDAS IP-Resistivity/MT Surveys....................................................106.4.4. MIMEX Gravity Survey......................................................................116.4.5. Drilling.........................................................................................11

6.5. FC4NW Prospect..................................................................................126.5.1. Introduction.................................................................................126.5.2. Soil Geochemistry............................................................................126.5.3. MIMDAS IP-Resistivity/MT Surveys....................................................136.5.4. MIMEX Ground Magnetic and Gravity Surveys.............................166.5.5. Drilling.........................................................................................166.5.6. MIMEX Down-hole Logging & Electromagnetic Surveying...........18

6.6. FC6 Prospect.......................................................................................196.6.1. WMC Geophysical Surveys..........................................................196.6.2. MIMDAS IP-Resistivity/MT Surveys....................................................206.6.3. Xstrata Regional IP-Resistivity Surveys............................................216.6.4. Drilling.........................................................................................22

6.7. FC7 Prospect.......................................................................................236.7.1. Soil Geochemistry............................................................................246.7.2. WMC Geophysical Surveys..........................................................246.7.3. MIMEX Electromagnetic Surveys.................................................246.7.4. MIMDAS IP-Resistivity/MT Surveys....................................................256.7.5. Drilling.........................................................................................26

6.8. FC12 Prospect.....................................................................................266.8.1. WMC Geophysical Surveying.......................................................276.8.2. MIMEX Electromagnetic Survey...................................................286.8.3. MIMDAS IP-Resistivity/MT Surveys....................................................286.8.4. Drilling.........................................................................................29

6.9. FC14NE Prospect.................................................................................316.9.1. WMC Geophysical Surveys..........................................................31

6.10. FC15S Prospect...................................................................................316.10.1. Soil Geochemistry - Enzyme Leach................................................32

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6.10.2. Drilling......................................................................................326.11. Pipeline Prospect............................................................................33

6.11.1. MIMEX Gravity Survey...................................................................336.11.2. MIMDAS MT/IP/Resistivity Surveys.................................................336.11.3. Xstrata Regional IP-Resistivity Surveys.....................................336.11.4. Drilling......................................................................................33

7. CONCLUSIONS.......................................................................................348. REFERENCES..........................................................................................35

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LIST OF DRAWINGS

Drawing. Title Scale43734 Location and Sub Block Diagram 1:250,0

0058276 EPM8648 - Prospect Locations 1:200,0

0058314 Relinquished Blocks – WMC Gravity Coverage 1:50,00

058315 Relinquished Blocks – MIMEX Aeromagnetic Coverage 1:50,00

058316 Relinquished Blocks – WMC Ground Magnetic

Coverage1:50,00

058317 Relinquished Blocks – WMC Ground TEM Coverage 1:50,00

058318 Relinquished Blocks – WMC IP-resistivity Coverage 1:50,00

058319 Relinquished Blocks – MIMEX IP-resistivity Coverage 1:50,00

058320 Relinquished Blocks – MIMEX EM and Drill-hole

Surveys Coverage1:50,00

058321 Relinquished Blocks – MIMEX Ground Magnetic 1:50,00

0& Gravity Coverage

LIST OF APPENDICES

Appendix No. TitleAppendix 1 Regional Enzyme Leach Soil Sampling Data Appendix 2 WMC Geophysical DataAppendix 3 MIMEX Geophysical Data Appendix 4 Drill hole Data

LIST OF TABLES

Table No. TitleTable 1 Summary of exploration work completed over relinquished sub-blocks. Table 2 Summary of MIMEX detailed aeromagnetic surveysTable 3 Location of soil survey lines at the FC2 & FC7 prospects. Table 4 WMC IP-resistivity surveys at FC2.Table 5 MIMDAS IP-resistivity/MT surveys at FC2.Table 6 Drill hole collar information for the FC2 prospect. Table 7 MIMDAS IP-resistivity/MT surveys at FC3.Table 8 Drill hole collar information for the FC3 prospect.Table 9 Location of trial soil sample lines at the FC4NW prospect. Table 10 MIMDAS IP-resistivity/MT surveys at FC4NW – First phase. Table 11 MIMDAS IP-resistivity/MT surveys at FC4NW – Second phase. Table 12 Drill hole collar details for the FC4NW prospect.

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Table 13 WMC IP-resistivity surveys at FC6.Table 14 MIMDAS IP-resistivity/MT surveys at FC6. Table 15Regional IP-resistivity surveys at FC6.Table 16 Drill hole collar details for the FC6 prospect. Table 17 MIMDAS IP-resistivity/MT surveys at FC7.Table 18 Drill hole collar details for the FC7 prospect. Table 19 WMC IP-resistivity surveys at FC12.Table 20 MIMDAS IP-resistivity/MT surveys at FC12. Table 21Drill hole collar details from the FC12 prospect.Table 22 Drill hole collar details from the relinquished areas of the FC15 prospect. Table 23 MIMDAS IP-resistivity/MT surveys at the Pipeline prospect.Table 24 Drill hole collar details for the Pipeline prospect

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SUMMARY

Aim of ProjectTo discover economic, bulk tonnage, iron oxide/sulphide hosted copper-gold mineralisation.

Object of ReportTo document the results of exploration on the fifty sub-blocks relinquished from EPM 8648 ‘Mount Fort Constantine’ on the 12th of February 2004.

LocationEPM 8648 ‘Mt Fort Constantine’ is located between 20 and 50km north-northeast of Cloncurry in Northwest Queensland, between latitudes 20º02’S and 20º31’S, longitudes 140º29’E and 140º48’E. Prior to the reduction reported here the tenement covered approximately 650 km2. It now covers 492 km2.

TenureEPM 8648 ‘Mt Fort Constantine’ forms part of a joint venture between Xstrata Copper (formerly MIM Limited) and Western Mining Corporation (WMC), termed the Mount Fort Constantine Joint Venture (MFCJV). MIM Limited assumed management of the project in 1996. Since 1996 partial relinquishments from EPM 8648 ‘Mt Fort Constantine’ have occurred in July 1997 (5 sub-blocks), January 1999 (15 sub-blocks), December 2000 (1 sub-block) and January 2002 (7 sub-blocks).

A further relinquishment of 50 sub-blocks in EPM 8648 in February of 2004 (the subject of this report) sees a reduction from 202 sub-blocks to 152 sub-blocks.

Previous ExplorationEPM 8648 ‘Mt Fort Constantine’ has been the subject of intensive exploration since the discovery of the Ernest Henry Cu-Au deposit. This work is described in detail in previous reports.

PrecisWork has been completed on the relinquished sub-blocks to 12 February 2004 by WMC and Xstrata Copper Exploration Pty Ltd (MIM). Activities include extensive regional aeromagnetic, ground magnetic, gravity, TEM, IP-resistivity and MIMDAS geophysical surveys, along with soil geochemical surveys, and field inspections involving both mapping and rock chip sampling. Drilling comprised 26 aircore holes, 12 percussion holes, 74 RC drill holes and 26 diamond holes.

October 1 EPM 8648 ‘Mount Fort

1. INTRODUCTION

This report documents exploration work conducted during the period of tenure on the fifty sub-blocks relinquished from EPM 8648 on the 12th February 2004. EPM 8648 ‘Mt Fort Constantine’ and adjoining EPM 8331 ‘Cubbaroo’ make up the Mount Fort Constantine Joint Venture between Xstrata Copper Exploration Pty Ltd (formerly MIM Exploration Pty Ltd) and WMC.MIM Exploration Pty Ltd commenced management of the MFCJV on 23rd September 1996. Under the terms of the joint venture with WMC, MIM managed and sole funded exploration on the MFCJV to earn a 51% interest in the tenements. Once MIM had earned 51%, WMC elected not to contribute and are now being diluted.EPM 8648 ‘Mt Fort Constantine’ covers buried mid-Proterozoic metasediments, calc-silicates, and felsic to intermediate intrusives and extends from approximately 20km to 50km north- northeast of Cloncurry, NW Queensland.The primary target has been bulk tonnage, iron oxide hosted, copper-gold mineralisation of Ernest Henry style (magnetite association). This style of mineralisation forms one member of a series of related iron associated deposits that include the Osborne, Eloise, and Selwyn deposits in the Mount Isa Inlier, and others such as the Olympic Dam Cu-Au-U-REE deposit in South Australia.

2. LOCATION AND ACCESS

EPM 8648 ‘Mt Fort Constantine’ is located in Northwest Queensland, within the Eastern Succession of the Mount Isa Inlier. The tenement is situated approximately 140km east- northeast of Mount Isa, stretching from 20km to 50km north-northeast of the town of Cloncurry (drawing 43734).EPM 8648 lies between latitudes 20º02´S to 20º31´S and longitudes 140º26´E to 140º48´E.Access to EPM 8648 from Cloncurry is via either the Zingari or Sedan Dip roads, both of which run through the central portion of the MFCJV area. Numerous station tracks provide good access to most of the project area during the dry season (March – November).

3. TENURE

EPM 8648, originally comprising 257 sub-blocks, was granted on the 14th February 1992, for an initial two-year term. Subsequent renewal and systematic partial relinquishment of this tenement has seen it previously reduced to 202 sub-blocks, and following the relinquishment of another fifty (50) sub-blocks reported here, the current tenement now totals 152 sub- blocks.A listing of the current sub-blocks is shown below, and the location of the tenements and of these blocks and sub-blocks is shown in drawing 43734.


BIM Tenement Block Sub-BlocksCLON EPM 8648 176 q,r,s,t,u,v,w,x,y,zCLON EPM 8648 246 zCLON EPM 8648 247 h,j,k,m,n,p,q,r,s,v,w,xCLON EPM 8648 248 a,b,c,d,e,f,j,l,m,n,q,s,t,uCLON EPM 8648 250 h,n,s,xCLON EPM 8648 319 a,b,c,d,f,g,h,j,l,m,n,o,p,q,r,s,t,u,

w,x,y,zCLON EPM 8648 320 l,m,n,q,r,s,u,v,w,x,y,zCLON EPM 8648 321 h,j,m,n,o,p,q,r,s,t,u,v,w,x,y,zCLON EPM 8648 322 l,q,vCLON EPM 8648 391 c,d,e,h,j,k,o,p,t,u,y,zCLON EPM 8648 392 a,b,c,d,e,f,g,h,j,k,l,m,n,o,p,q,r,s,t

,v,w,x,y,zCLON EPM 8648 393 a,b,c,d,e,f,g,k,l,m,n,o,q,r,s,vCLON EPM 8648 463 eCLON EPM 8648 464 a,b,c,d,e

The fifty sub-blocks relinquished on 12 February 2004 from EPM 8648 are:

CLON EPM 8648 247 d,e,l,o,t,u,y,zCLON EPM 8648 248 g,hCLON EPM 8648 249 b,c,d,g,h,j,k,m,n,o,p,r,s,t,

u,w,x,yCLON EPM 8648 250 f,g,l,m,q,r,wCLON EPM 8648 318 eCLON EPM 8648 320 h,jCLON EPM 8648 321 a,b,c,f,g,lCLON EPM 8648 322 b,g,rCLON EPM 8648 392 pCLON EPM 8648 393 h,j

4. REGIONAL GEOLOGY

The geology of the MFCJV area comprises Middle Proterozoic basement overlain by 0m to greater than 200m thickness of Mesozoic and Cainozoic sediments of the Eromanga and Carpentaria Basins. Exploration is focussed on the Proterozoic basement succession, comprising part of the Eastern Succession of the Mount Isa Inlier.The Proterozoic geology is largely inferred from regional and detailed geophysical datasets, supported by scattered outcrop/subcrop and sub-surface drill intersections. The Proterozoic rocks comprise folded and extensively faulted meta-sedimentary and meta-volcanic sequences thought to correlate with the Corella Formation. These are intruded by large granitoid plutons and associated smaller stocks and cupolas, correlating with the outcropping Naraku Granite to the south-west of EPM 8648. The outcropping meta-volcanic sequence at Mount Fort Constantine, in the southern portion of EPM 8648, has been dated at around 1740 Ma (Page and Sun, 1996).

5. PREVIOUS EXPLORATION

The MFCJV tenements have been explored by a number of companies prior to WMC and MIM Exploration. Early work by CRAe, Chevron, Teton and then ANZ Exploration, between 1974 and 1979, concentrated on exploring for roll-


front U in the Mesozoic cover sequences. Chevron in particular drilled a large number of holes, many of which intersected basement. BHP pegged most of the current lease area as the Mt Margaret tenement from 1984 – 86 because the tenement area contained the largest undrilled magnetic anomalies in the Mt Isa


block. A number of basement holes were drilled without success exploring for magnetite skarn and ironstone-Au deposits.Hunter Resources were granted the tenements covering the current EPM 8648 area in March 1990 and entered a JV with WMC, who managed the project. WMC had identified the area as being prospective for ‘Starra’-style magnetic iron oxide hosted Cu – Au mineralisation, detectable by time-domain electromagnetic methods (TEM).During the first year, seven target areas were identified, FC1 – 7, with TEM and ground magnetics conducted over most. During 1991 drilling identified ore grade intersections at FC5, subsequently named ‘Ernest Henry’. In February 1992 the current tenements were granted to the WMC/Hunter Resources JV. MIM Exploration joined the JV in place of Hunter Resources during 1993, although WMC continued to manage the project until 1996 when MIMEX assumed management and sole funding of the project.

6. WORK COMPLETED DURING THE TERM OF TENURE

6.1. IntroductionExtensive exploration work has been completed on the fifty sub-blocks relinquished over EPM 8648. WMC explored the region from 1992 through to 1996 and performed extensive regional and prospect scale gravity and ground magnetic surveys, TEM surveys and induced polarisation (IP)-resistivity surveys were completed over many of the prospects. WMC also extensively drilled the area with 58 RC holes and 10 diamond drill holes.MIM Exploration assumed management of exploration in 1996 and initially performed an enzyme leach soil survey as part of a broad spaced regional soil sampling program. They also used a variety of geophysical tools including 200m line spaced aeromagnetic data, being part of a region-wide survey, and extensive, detailed 50m line spaced aeromagnetic surveys. MIMEX undertook systematic surveying of most of the prospects with their in-house MIMDAS IP-resistivity/magnetotelluric (MT) geophysical system. Additional ground geophysical work comprised detailed gravity and ground magnetic surveys over selected prospects, limited MT and TEM surveys and, latterly, regional scale IP-resistivity over those areas not previously surveyed. MIMEX drilling within the relinquished sub-blocks consisted of a further 12 percussion holes, 26 aircore holes, 16 RC holes and 16 diamond holes. Drill-hole magnetic, IP-resistivity and conductivity logs were variously run in selected drill-holes; downhole electromagnetic (DHTEM) surveying was carried out at one prospect. A summary table of the exploration work completed over the relinquished sub-blocks appears below in table 1 grouped by individual prospect.


PROSPECT FC2 FC3 FC4NW FC6 FC7 FC12 FC14NE FC15S Pipeline

Soil Geochemistry X X X X XWMC Gravity (detailed) X XWMC Ground Magnetics X X X X X XWMC TEM X X X X X XWMC IP-Resistivity X X X X XWMC PERC Drilling XWMC RC Drilling X X X X XWMC DD Drilling X XWMC DHTEM XWMC Geophysical Logging XMIMEX Gravity X X XMIMEX Magnetics X X X X X XMIMEX Electromagnetics X XMIMDAS IP-Resistivity-MT X X X X X X XMIMEX IP-Resistivity X XMIMEX PERC Drilling XMIMEX RC Drilling X X X X X X XMIMEX DD Drilling X X X X XMIMEX AC Drilling X XMIMEX DHTEM XMIMEX Geophysical Logging X XTable 1: Summary of exploration work completed over relinquished sub-blocksThe work completed on the relinquished sub-blocks is discussed below, with an initial section devoted to the regional-style surveys (enzyme leach analysis, gravity and detailed aeromagnetics), followed by surveys grouped by individual prospect. Prospect locations are shown on drawing 58276.

6.2. Regional Programs

6.2.1. Enzyme Leach Soil ProgramA regional enzyme leach soil survey was conducted over the entire Mount Fort Constantine JV area (including both the Mount Fort Constantine and Cubbaroo EPMs) at 1km X 1km spacing in 1997. A total of 156 of these samples occur within the relinquished sub-blocks in EPM8648. This data is provided in appendix 1.The following is a summary of the procedure for sample collection for this survey:

Scrape off surface litter, recent sand, etc. to clear an area approximately 1m X 0.75m.

Within this area dig hole to appropriate depth, do not let surface material spill back & contaminate hole.


Pound clay clods if necessary.


Sieve approx. 200g of -0.25mm using brass sieve (enough to cover bottom pan to about 1cm depth).

Half fill numbered, sealable plastic bag with sieved sample. Place sample ticket in bag. Evacuate all air from bag and seal.

The samples were dispatched to ACTLABS in Canada for analysis for a suite of elements as indicated in appendix 1.

6.2.2. WMC Regional Gravity SurveyA regional gravity survey was completed by WMC between June and December 1992. Data were acquired at approximately 1km x 1km centres using Lacoste & Romberg Model G gravimeters. The readings were reduced to give Bouguer gravity values using a density of2.67 gm/cc. Gravity data from the relinquished sub-blocks are provided in appendix 2, together with data from FC2 and FC12 prospect-scale surveys. All WMC gravity stations located within the relinquished sub-blocks are plotted on the WMC gravity coverage map drawing 58314. Total WMC gravity data reported here comprises 1078 stations.

6.2.3. MIMEX Detailed Aeromagnetic SurveysEPM 8648 was included in the MIM Mt Isa Inlier airborne magnetic and radiometric survey. The Department of Natural Resources, Mines & Energy has agreed that 20% of the survey data should be published yearly from June 2001. However, the airborne survey data relevant to the relinquished sub-blocks is not in that area already published and hence is not included in this report.MIM commissioned a series of detailed aeromagnetic surveys over selected areas within EPM 8648 from 1997 to 2002. Survey parameters for these surveys are summarised in table 2; relevant flight path information is plotted on the aeromagnetic coverage map drawing 58315. Detailed survey parameter information and digital data for those portions of the surveys within the relinquished sub-blocks referenced in this report are included in appendix 3.

Survey Date Contractor Survey Type

Flight Lines Tie Lines Terrain

Clearance

EH Environs 2002 UTS Geophysics Fixed wing

50m E-W 500m N-S 20m

FC4-5 1999 MIMEX in-house Helicopter 50m E-W 500m N-S 30mFC8-9 1999 MIMEX in-house Helicopter 50m E-W 500m N-S 30mFC12 1999 UTS Geophysics Fixed

wing50m E-W 500m N-S 20m

FC15 1997 UTS Geophysics Fixed wing

50m E-W 500m N-S 20m

Table 2: Summary of MIMEX detailed aeromagnetic surveys

6.3. FC2 Prospect

6.3.1. IntroductionThe FC2 magnetic anomaly was interpreted by WMC to be due to tightly


folded magnetic stratigraphy complicated by ENE and NE trending faults. WMC collected TEM and ground magnetic data and surveyed ten IP-resistivity lines in 1992, with no obvious electrical anomalism. In 1993 twelve RC holes were drilled, all of which intersected ‘dark rock’ altered felsic volcanics with trace chalcopyrite, but with little Cu/Au anomalism. The lack of geophysical targets was thought to be due to coupling caused by the thickness of cover (approx. 90m), but no further work was completed by WMC regardless.


In 1996 MIMEX identified FC2 as an interesting magnetic anomaly and used it (along with FC7) to test various exploration methods, including detailed soil sampling for total digest and partial extraction-based analysis. In 1997 two diamond holes were drilled, intersecting K- altered felsic volcanics. In 1998, twelve MIMDAS lines were surveyed across the magnetic anomaly. One RC and one diamond hole were drilled into IP-anomalous targets, but the cause of the anomalism was interpreted to be pyritic Mesozoic cover. No further work was undertaken on the prospect because of the lack of geophysical targets; there is considered to be little remaining potential within the FC2 prospect area.

6.3.2. Soil GeochemistryIn November 1996, MIMEX collected 414 soil samples over both the FC2 and FC7 grids at 100m intervals on seven east-west lines. The following sampling protocol was used:

An area of 75cm by 75cm was cleared of loose soil and grass; Soil was collected from about 15cm to 20cm depth; 25g was sieved to -60 mesh (-0.25mm); Duplicate samples were collected at every 15th sample site; MIMEX standards were submitted with the batch.

Samples were dispatched to Analabs in Townsville for total digest analysis, and also to ACTLABS in Canada for analysis via a proprietary partial extraction technique (the ENZ1 method). Grid coordinates for the seven sample lines are supplied in table 3. A total of 192 of the samples were collected in the relinquished sub-blocks, with the digital data for both the total digest and the enzyme leach analysis provided in appendix 1.The soil survey shows FC2 to be weakly anomalous in a range of elements, although less anomalous than FC7. Two broad N-S trending zones of multi-element anomalism exist. The one to the east is coincident with part of the main magnetic peak, whilst the other, to the west, is coincident with a possible N-S trending fault.

Northing (AMG) Easting

Minimum

(AMG)

Maximum

7752800 452000 458000

7753600 452000 458500

7754400 452500 458500

7756000 455000 460500

7757200 456000 462000

7758000 456000 463000

7759500 460000 460700

Table 3: Location of soil survey lines at the FC2 & FC7 prospects.


6.3.3. WMC Geophysical SurveysIn 1990 and 1993 WMC carried out ground magnetic surveying at the FC2 prospect; survey parameters comprised 5 metre stations on 200 metre spaced east-west lines (1990) and 10 metre stations on the intermediate lines to give a 100 metre line spacing (1993). The digital data from the magnetic survey are not available, but a contour map of the total magnetic intensity (from Mason et al., 1994) is presented in digital form in appendix 2. The location and extent of the WMC FC2 ground magnetic surveys are plotted on the WMC ground magnetic coverage plan drawing 58316.WMC also completed a six line 100m coincident loop TEM survey over the FC2 prospect in 1992; a total of 92 stations were recorded at a 100 metre station spacing for a total extent of


8.7 line km. Digital data are not available, but stacked profiles for each line are presented in digital form in appendix 2. Loop locations for the WMC FC2 ground TEM survey are plotted on the WMC ground TEM coverage plan drawing 58317.In 1993, WMC completed ten lines of 200m dipole-dipole IP-resistivity surveying, nine of which lie within the relinquished blocks. No obvious electrical anomalism was reported. Line extents are given in table 4 and digital data are included in appendix 2. The location and extent of the WMC FC2 IP-resistivity lines are plotted on the WMC IP-resistivity coverage plan drawing 58318.

Line From To Length (m) Comments

7754500N 451700E 454900E 3200 Data truncated at 453000E

7754000N 452600E 455800E 32007753800N 452600E 455800E 32007753600N 453400E 456600E 32007753400N 452400E 455600E 32007753000N 453100E 456300E 32007752800N 453400E 456600E 32007752500N 452900E 456100E 32007751900N 453400E 456600E 3200

Table 4: WMC IP-resistivity surveys at FC2.WMC also completed a gravity survey in 1993, mainly at 200 m spaced stations, 317 stations of which lie within the area currently being relinquished. The survey did delineate a discrete gravity anomaly of approximately 500 metres diameter, but with a low amplitude of approximately 1 milligal. Digital data are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314.

6.3.4. MIMEX Electromagnetic SurveyIn 1996 MIMEX commissioned Zonge to carry out three trial lines (7752800mN, 7753600mN and 7754400mN) of MT over the FC2 grid to test the technique for its ability to detect basement conductors beneath thick, conductive overburden. Digital data are not available, but resistivity and impedance phase pseudosections for each line are presented in digital form in appendix 3. Line locations and extents for the MIMEX Zonge FC2 ground MT survey are plotted on the MIMEX EM and drill-hole survey coverage map drawing 58320.The trial MT survey indicated that the MT method may be a better technique in the area as it gives cleaner high frequency data, allowing better penetration through the conductive cover sequences.

6.3.5. MIMDAS IP-Resistivity/MT SurveysTwelve lines of combined dipole-pole and pole-dipole MIMDAS IP-resistivity totalling 35.1 line kms were completed at an average line spacing of 400m over the FC2 prospect. Only four of the lines were read with the MT method due to equipment problems. The survey lines were established on an AMG grid using a differential GPS to locate the start point of the line and chain and line of sight to survey the line itself. Details of the survey


extents are tabled below (table 5).

Line From To Length (m) MT Recorded

7756250N 452300E

454300E

2000 YES


7755850N 452200E

454200E

2000

7755550N 452200E

454200E

2000

7755050N 452200E

454200E

2000

7754650N 452200E

454200E

2000

7754250N (West)

452400E

454200E

1800

7754250N (East)

454400E

456500E

2100

7753850N 452900E

456500E

3600 YES

7753450N 452450E

456650E

4200

7753050N 452750E

456550E

3800 YES

7752650N 452850E

456450E

3600

7752250N 453050E

456250E

3200

7751850N 453350E

456150E

2800 YES

Table 5: MIMDAS IP-resistivity/MT surveys at FC2.A moderately strong IP anomaly was interpreted from the inversion results on the northern two lines of the survey (7756250mN and 7755850mN). The IP response deepened and was less intense on the next line to the south.The resistivity inversions from the survey illustrate a thick conductive cover sequence to a depth of approximately 100m, which is also locally variable.The MT inversion from Line 7756250N did not show any target in the vicinity of the IP anomaly. No other significant anomalies were detected in the FC2 IP and MT data.Digital data for those parts of the MIMDAS lines that lie within the sub-blocks being relinquished are included in appendix 3. The location and extent of the MIMEX FC2 MIMDAS lines are plotted on the MIMEX IP-resistivity coverage plan drawing 58319.

6.3.6. DrillingIn 1993 WMC drilled 12 RC holes (FTCC1101 - FTCC1112) testing a variety of magnetic and gravity features, all of which intersected ‘dark rock’ altered felsic volcanics with trace chalcopyrite, but with little Cu/Au anomalism. Drill hole collar information is available in table 6 with the digital survey, geology and assay information in appendix 4.In 1997 two diamond holes (MFC97005D & MFC97006D) were drilled by MIMEX, intersecting K-altered felsic volcanics. MFC97005D was drilled to evaluate the potential of a weak to moderate magnetic anomaly associated with NNE fault control and MFC97006D was drilled on a strong magnetic response at the intersection of NW and NNW faults.In 1998, MIMEX drilled one RC (MFC98036RC) and one diamond hole (MFC98089D) into IP anomalous targets. Drill-hole MFC98089D, drilled to


350m, was designed to test the deep IP feature from MIMDAS line 7756250N at a vertical depth of 250m and down dip of a magnetic source modelled as dipping approximately 40 to the east. Thick intervals of pyritic cover sequence were drilled; however, the drilling failed to provide an obvious explanation for the basement IP source. Sixty metres of steel rods were lost in the hole between 188m and 250m.

Hole ID Company Date Drilled

Drill Type Amg N Amg E RL

RegDepth Dip Mag

AzLocal

Az


FTCC1101 WMC Nov-93 REVC 7755227

454511

143.31

42 -70

264


453787

142.77

120 -90

174


453837

142.8 138 -70

74


453888

142.8 118 -90

0


453236

143.51

138 -70

264


453285

143.25

138 -90

0


454809

143.59

120 -60

270


455110

143.67

120 -60

270


454746

144.07

120 -60

270


455561

144.3 120 -60

270


454551

145.13

120 -60

270

FTCC1112 WMC 12/2/1993

REVC 7752373

454652

144.98

114 -60

284

MFC97005D

MIMEX

5/1/1997 DD 7753415

455870

159.4

-60

270

MFC97006D

MIMEX

5/3/1997 DD 7753000

453876

159 -60

270

MFC98036RC

MIMEX

5/31/1998

REVC 7754700

453375

114 -60

270

MFC98089D

MIMEX

11/27/1998

DD 7756250

453541

350.8

-60

270

Table 6: Drill hole collar information for the FC2 prospect.

6.3.7. MIMEX Down-hole LoggingDrill-hole MFC98089D was logged by in-house MIMEX staff using a continuous magnetic susceptibility probe and by Zonge with a one metre ‘a’ spacing dipole-dipole IP-resistivity probe. Digital data are provided in appendix 3. The collar location for MFC98089D is plotted on the MIMEX EM and drill-hole survey coverage map drawing 58320.No useable data could be obtained from the borehole logging over the interval between 188m and 250m due to the steel rods stuck in the hole. The magnetic susceptibility data indicate thick sequences of >4% magnetite were intersected in the hole. The DHIP data from 48m to 124m confirm the sulphide mineralisation intersected in the cover sequence, and provided an elevated IP response (mean value of ~ 50mSecs) from 250m to 340m.Remodelling of the surface IP data in conjunction with the down-hole data suggests a better interpretation of the IP data consists of a strong shallow IP source being generated by the pyrite in the cover sequence above a more subtle deep basement anomaly below. The distinctive basement IP anomaly generated by the inversion was reinterpreted to be a combination of the


smoothing in the inversion process with interference between the subtle basement response and the much stronger response in the cover sequence related to the thick sequence of conductive black shale encountered in this part of the prospect.

6.4. FC3 Prospect

6.4.1. IntroductionThe FC3 prospect was initially targeted by WMC as a strong magnetic ‘bullseye’ anomaly at the intersection of major structures, a potential host to Au skarn mineralisation. Ground magnetic data revealed a complex anomaly that was not a ‘bullseye’ structure, immediately downgrading the target. WMC undertook a TEM survey across the prospect in 1992 with little success. A gravity survey over the adjacent FC12 prospect partially overlapped FC3.


MIMEX drilled two RC holes in 1997, with anomalously low Cu. In 2000 the prospect was covered by MIMDAS surveys to complete coverage of ground between FC12 and FC4. No strong anomalies were outlined. MIMEX commissioned a detailed gravity survey over the FC3 prospect in 2001.The FC3 prospect was covered by the 1997 FC15 (FC3 southern section) and the 1999 FC12 (FC3 northern section) MIMEX detailed aeromagnetic surveys details of which are referenced in a previous section.

6.4.2. WMC Geophysical SurveysThe WMC 1992 regional gravity survey, which covered the FC3 prospect, delineated a one- station anomaly in the one kilometre spaced data, the source of which was not explained. Although poorly constrained, the gravity anomaly did occur over a magnetic low at the intersection of NW and NE striking faults. Digital data are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314.WMC carried out ground magnetics between AMG 470000mE–472000mE and 7753500mN–7755500mN at 10m stations and 200m spaced lines. The results revealed a complex anomaly that was not a bullseye structure and which immediately downgraded the target. No digital data are available, but a contour map of the total magnetic intensity (from Craske, 1991) is presented in digital form in appendix 2. The location and extent of the WMC FC3 ground magnetic survey are plotted on the WMC ground magnetic coverage plan drawing 58316.WMC completed three 800m-spaced approximately north-south lines of 100m coincident loop TEM surveying over the FC3 prospect; a total of 60 stations were recorded at a 100 metre station spacing for a survey extent of 5700 metres. Digital data are not available, but stacked profiles for each line are presented in digital form in appendix 2. Loop locations for the WMC FC3 ground TEM survey are plotted on the WMC ground TEM coverage plan drawing 58317.

6.4.3. MIMDAS IP-Resistivity/MT SurveysMIMEX completed a total of 22.75 line kilometres of MIMDAS IP-resistivity and MT surveying at FC3 along nine east-west lines, spaced either 300 metre or 400 metre apart; line extents and survey parameters are shown in table 7. Several weakly IP-anomalous features were defined, although they were considered not of sufficient amplitude to warrant further work. Digital data are included in appendix 3. The location and extent of the MIMEX FC3 MIMDAS lines are plotted on the MIMEX IP-resistivity coverage plan drawing 58319.

LINE FROM TO LENGTH (m)

7754900mN (DPDP) 470100mE

472800mE

2700

7754600mN (DPDP) 469800mE

472750mE

2950

7754200mN (DPDP) 469600mE

472800mE

3200

7753800mN (DPDP) 469400mE

471800mE

2400

7753400mN (DP&PD) 469250mE

471550mE

2300

7753000mN (DP&PD) 468950m 471250 2300


E mE7752600mN (DP&PD) 468550m

E470850

mE2300

7752200mN (DP&PD) 468350mE

470650mE

2300

7751900mN (DP&PD) 468050mE

470350mE

2300

Table 7: MIMDAS IP-resistivity/MT surveys at FC3.


6.4.4. MIMEX Gravity SurveyIn 2001, MIMEX contracted Scintrex to undertake a detailed gravity survey at FC3, the survey comprising 133 stations on a 200m by 200m grid over an area of 4.4 square kilometres. The gravity results are dominated by a strong gradient, decreasing northwest to southeast, steepening in the southeast, being part of the margin of an extensive 10 milligal gravity high centred 4 kilometres to the north. Within the FC3 gravity survey area, localised distortions in the gradient pattern suggest the presence of a restricted gravity anomaly of at least 1 milligal amplitude, elongate northeast-southwest, centred approximately at 470500mE 7753000mN. Digital data are included in appendix 3 and station locations are plotted on the MIMEX ground magnetic and gravity coverage map drawing 58321.

6.4.5. DrillingIn 1997 MIMEX drilled 2 RC holes (MFC97011RC & MFC97012D), collar details of which are presented in table 8. Geological logs and assays are presented in appendix 4.MFC97011RC was drilled to test a moderately magnetic body with a 500m strike length which shows a coincident moderate gravity response. The target is located at the intersection of northwest and northeast structures. Relatively thin cover sequences overlie the basement rocks, which were intersected at 12m. Leached intermediate volcanics interbedded with metasediments were encountered with minor magnetite present. Low concentrations of pyrite were noted throughout the hole with up to 1% pyrite recognised at 58-59m.MFC97012D was drilled to test a similar structural setting hosting a 700m NNE fault controlled body, which is weakly to moderately magnetic with a 1mgal gravity response. Depth to basement was 30m and the basement was dominated by a magnetite + biotite altered intermediate volcanic unit, which also shows weak albite alteration with a k-feldspar overprint.Eighteen vertical aircore holes were drilled to blade refusal on a 200m by 200m grid over FC3 in May 2001. Multi-element enrichment (Co, Fe, Zn, Cd, Sb, V) was present at the base of Tertiary in many of the holes, but with no coherent pattern and no apparent source other than a granite which occurs as a basement high across the eastern half of the grid. Therefore, it is considered unlikely that the base of cover anomalism is caused by buried mineralisation. Only one hole in the far southeast of the grid, drilled into the granite, was Cu (and U) anomalous. MIMDAS lines surveyed north and south of the prospect have not provided any encouragement.

Hole ID Company Date Drilled

Drill Type Amg N Amg E RL Reg Depth Dip Local Az

MFC187AC MIMEX 6/28/2001

ACORE

7753700

470600

150 6 -90


ACORE

7753690

470600

150 3 -90


ACORE

7753300

470600

150 4 -90


ACORE

7752700

469600

150 40 -90

MFC191AC MIMEX 6/28/20 ACOR 77529 4698 150 27 -


01 E 00 00 90MFC192AC MIMEX 6/28/20

01ACOR

E77533

00469800

150 32 -90


ACORE

7753500

470000

150 31 -90


ACORE

7753500

469600

150 53 -90


ACORE

7753100

469600

150 42 -90


ACORE

7753100

470000

150 23 -90


ACORE

7752700

470000

150 21 -90



ACORE

7752900

470200

150 4 -90


ACORE

7753300

470200

150 21 -90


ACORE

7753700

470200

150 29 -90


ACORE

7753500

470400

150 5 -90


ACORE

7753100

470400

150 10 -90


ACORE

7752700

470400

150 8 -90


ACORE

7752900

470600

150 26 -90

MFC97011RC

MIMEX 8/30/1997

REVC 7753171

470420

108 -60

270

MFC97012D

MIMEX 8/30/1997

DD 7751426

468285

99 -60

270

Table 8: Drill hole collar information for the FC3 prospect.

6.5. FC4NW Prospect

6.5.1. IntroductionThe FC4(NW) prospect was defined by MIMEX and therefore the only work completed on the area by WMC was portion of a single north-south line of IP-resistivity and 2 RC holes that were drilled to the northwest of their FC4 prospect.The northwest extension to the FC4 prospect was identified as being of interest by MIMEX in 1997 due to numerous northeast trending magnetic features. Three scout holes (2 RC and 1 diamond) drilled intersected some Cu > 0.1%; twelve shallow percussion holes were then drilled to explore for base of Tertiary anomalism to try to focus exploration. Results indicated one particular magnetic feature was Cu anomalous. This feature was then surveyed with MIMDAS which outlined a strong IP-anomalous zone along the entire strike length. This zone was then drilled with four diamond holes and one RC hole. Results were encouraging with over 100m at >1% Cu in some holes, although there is no significant gold present.In 1999 the MIMDAS coverage was extended to the east, then to the south. Five more diamond holes and two RC holes were drilled. Results were similar to the 1997 drilling, with an increase in intersected copper and gold. Selected drill-holes were geophysically logged and two-drill-holes were surveyed with DHTEM. Three soil lines were sampled to ascertain whether there was a soil response from the weak mineralisation.Results were ambiguous and a lack of encouraging higher grade Cu or Au mineralisation, combined with a perceived lack of obvious structures and ground preparation lead to no further work being completed in the area.The FC4NW prospect was covered by the 1997 FC15 (FC4NW northern section) and the 1999 FC4-5 plus 2002 Ernest Henry Environs (FC4NW southern section) MIMEX detailed aeromagnetic surveys, details for which are referenced in a previous section.


6.5.2. Soil GeochemistryIn 1999, an orientation soil geochemistry survey was completed by MIMEX over three lines at the FC4NW prospect to determine whether a technique that could detect the blind, low- grade copper mineralisation could be established. Three analytical methods, BLEG, MMI and enzyme leach were carried out on each sample. A total of 264 samples were collected, including 30 quality control samples, from 78 sites over three lines. The 2kg BLEG samples were assayed by ALS using method PM226 for elements Au, Cu, Ag, and Pd. The 50-75gm - 60# MMI samples were assayed by ALS using methods PE020A for Cu, Pb, Zn and Cd and method PE020B for Ag, Co, Ni, Pd, and Au. The 50-75gm -60# enzyme leach samples were assayed by Actlabs Pacific for 60 elements using their proprietary methods.


The three lines were oriented in an east-west direction over the FC4NW prospect where drilling had previously intersected Cu mineralisation in the Proterozoic basement. In each case the mineralised zone is located in the central area of each line. Table 9 details the start- end coordinates for each line and the sampling intervals.Results are ambiguous and are contained in appendix 1. The element which most closely correlated with the position of the buried mineralisation was Ag.

Line Number

Start Finish Sample IntervalNorth

(AMG)East

(AMG)North (AMG)

East (AMG)

1 7750300 465750 7750300 467250 50 m2 7750400 465850 7750400 467350 50 m3 7751300 466650 7751300 468150 100 m

Table 9: Location of trial soil sample lines at the FC4NW prospect.

6.5.3. MIMDAS IP-Resistivity/MT SurveysAn initial six 250m-spaced east-west lines of MIMDAS 100m combined dipole-pole and pole- dipole IP-resistivity were surveyed by MIMEX in 1999 for 11.4 line kms over a northeast- trending magnetic ridge identified as being prospective from the scout drilling and open hole percussion drilling program. MT was recorded (at 1600sps only - no remote reference sites were established) on every second line. Due to the perceived nature of the prospectivity of the area, several Ey electrodes were added at a 200m station spacing to the MT survey to test for deep, thin, steeply-dipping features, however the data-sets were corrupted (probable equipment failure) and no useful information was derived. Details of the MIMDAS coverage are listed in table 10; digital data are included in appendix 3.


Line From To Length MT Comments

7751550m N

466650m E

468550m E

1900m YES

7751300m N

466550m E

468450m E

1900m

7751050m N

466350m E

468250m E

1900m YES

7750800m N

465950m E

467850m E

1900m

7750550m N

465850m E

467750m E

1900m YES

7750300m N

465650m E

467550m E

1900m YES

Table 10: MIMDAS IP-resistivity/MT surveys at FC4NW – First phase

Anomalous IP responses were recorded on each line of the survey at FC4 NW, the best IP targets being on lines 7750550N and 7750300N.Following encouraging results from drilling further MIMDAS IP-resistivity/MT surveying was conducted. The six original FC4NW MIMDAS lines were extended to the east to cover linear magnetic trends similar to those already targeted. MIMDAS coverage was also extended south, initially at 250m line spacing, then at 300m line spacing, to completely cover previously untested magnetic zones; total coverage comprised 66.7 line kms. Ey-Hx MT data were recorded on the eastern extensions to the original FC4NW survey grid but time constraints precluded the use of multiple Ey electrodes on the major portion of the grid. Details of the MIMDAS coverage are listed in table 11. Digital data are included in appendix 3.The location and extent of all MIMEX FC4NW MIMDAS lines are plotted on the MIMEX IP- resistivity coverage plan drawing 58319.



7751550m N

467550m E

470050m E

2500m 1600&100sp s

Eastern extension

7751300m N

467350m E

469950m E

2600m 1600&100sp s

Eastern extension

7751050m N

466950m E

469650m E

2700m 1600&100sp s

Eastern extension

7750800m N

466750m E

469750m E

3000m 1600&100sp s

Eastern extension

7750550m N

466750m E

469750m E

3000m 1600sps Eastern extension

7750300m N

466650m E

469950m E

3300m 1600sps Eastern extension

7750050m N

465450m E

469950m E

4500m 1600sps

7749800m N

465450m E

469950m E

4500m No Data truncated at 468700mE

7749550m N

465450m E

469950m E

4500m 1600sps Data truncated at 468700mE

7749300m N

465550m E

470150m E


7749050m N

465550m E

470050m E


7748800m N

466150m E

469150m E


7748500m N

466250m E

469050m E


7748200m N

466350m E

469150m E


7747900m N

466450m E

469050m E


7747600m N

466550m E

469050m E


7747300m N

466550m E

469050m E


7747000m N

466550m E

469050m E


7746700m N

466750m E

469050m E


7746400m N

466850m E

469050m E


7746100m N

466850m E

468950m E


7745800m N

466850m E

468550m E

1700m 1600sps No data

Table 11: MIMDAS IP-resistivity/MT surveys at FC4NW – Second phase.Three anomalies were selected from the IP inversions for drill testing.


Drill-holes MFC99099RC and MFC99100D were designed to test the two IP anomalies interpreted from line 7749050N.The western IP anomaly is a narrow feature interpreted to lie on the western flank of a group of sub-vertically dipping magnetic bodies. MFC99100D passed through broad intervals (tens of metres) of weak to moderately developed (up to 3%) disseminated pyrite. The DHIP (see below) recorded IP intervals of 15-23 mV/V, which was lower than anticipated given the amplitude of the surface IP anomaly.The broader IP anomaly in the centre of Line 7749050N was drill tested by MFC99099RC which intersected only minor amounts of sulphide (< 1% pyrite). The DHIP recorded narrow intervals with amplitudes of 25 to 50mV/V and, like the results from MFC99100RC, is lower in amplitude than anticipated. However the DHIP values are higher than encountered in MFC99100D, which is consistent with the MIMDAS IP amplitudes.MFC99098D drill hole tested the IP anomaly on line 7749550N which was interpreted as the northern continuation of the anomaly drill-tested by MFC99099RC and located on the eastern flank of a steep dipping magnetic body. The only significant sulphides intersected were 0.5 – 2% pyrite from 21m to 26m. DHIP could only be recorded from a depth of 100m down hole because of the level of the water table. Two intervals (approx. 5m wide) of weak IP anomalism in the order of 10 - 12 mV/V were noted in the DHIP data but these are not considered high enough to explain the surface IP interpretation.The surface IP interpretation is not entirely consistent with the drilling results and DHIP data. Reference to the original data showed that anomalous IP values start at an n spacing of 1.5 and are more patchy than what a genuine basement source would appear in pole-dipole data. The nature of the surface IP responses suggested that the source of the IP anomalism was much shallower and possibly more patchy then seen in the 2D inversion results. It was therefore concluded that these IP anomalies are possible misinterpretations of smaller shallower IP sources existing at or near the unconformity.

6.5.4. MIMEX Ground Magnetic and Gravity SurveysIn 2000, MIMEX undertook a detailed ground magnetic survey (DGPS-controlled stations on 20m spaced north-south traverses) at the FC4 prospect, the northwest section of which lies within relinquished sub-blocks which are the subject of this report. Digital data are included in appendix 3 and traverse locations and extent are plotted on the MIMEX ground magnetic and gravity coverage map drawing 58321.In 2001, MIMEX contracted Scintrex to undertake a detailed (100m x 100m) gravity survey at FC4 prospect, the northwest section of which (100 stations) lies within relinquished sub- blocks which are the subject of this report. Digital data are included in appendix 3 and station locations are plotted on the MIMEX ground magnetic and gravity coverage map drawing 58321.

6.5.5. DrillingWMC drilled 2 holes adjacent to their FC4 prospect, which lie within the FC4NW prospect area detailed by MIMEX. Collar details are shown in table 12. Assays and geological logs for all holes drilled are detailed in appendix 4.In 1997 MIMEX drilled 3 scout holes to test the Cu-Au potential of a NE-


NNE linear structure associated with a moderate magnetic ironstone feature of approximately 1000m strike length (MFC97017-018RC & MFC97019D). Basement was intersected at 27m in the first hole, MFC97017RC, and comprised metasediments (initially described as felsic volcanics) showing moderate to strong red rock alteration. Dark red k-feldspar + hematite along with fine grained magnetite alteration in the upper part of the hole are characteristic. Up to 5% pyrite and 2% chalcopyrite was observed as a very fine grained, disseminated mineralising event. MFC97018RC was collared approximately 250m SW of MFC97017RC. Alteration of the metasediments was of a similar character to that above, however copper assays were lower.


MFC97027D was drilled as a diamond twin of MFC97017RC in order to determine the nature of the host lithology and mineralisation previously identified. Mineralisation occurs along what may be either weak cleavage or preserved bedding planes. Alteration associated with the mineralisation is k-feldspar + magnetite, and silicification of the host unit is associated with an apparent highly strained zone.As these initial scout holes intersected low grade, but significant levels of Cu mineralisation, a follow-up program of 12 holes (703m) of open hole percussion (OHP) drilling was carried out on a broad spacing over the wider FC4NW target area (MFC98028P - 035P, MFC98041- 044P). The holes were planned to intersect approximately 30m of Proterozoic basement to obtain samples for geochemical analysis for pathfinder elements. The OHP drilling returned some strongly anomalous Cu (results of over 500ppm over 2m, against a background of<100ppm) and these results indicated that the most prospective area was the westernmost of the three NE trending magnetic features; MIMDAS IP-resistivity subsequently covered this area.IP responses were identified on four of the five surveyed lines and were subsequently drilled by holes MFC98051D, MFC98052D, MFC98053D and MFC98054D. Low level Cu mineralisation was intersected over narrow intervals from all four holes.As the IP-anomalous response was open to the south and the results from holes MFC98051-54 were encouraging, a further line of MIMDAS was completed 250m south of line 7750550N at 7750300N. A further IP anomaly was detected on line 7750300N, and this was drilled by hole MFC98059RC. The hole intersected a 92m wide zone from 48m to 140m with Cu generally >1000ppm, up to a maximum of 0.8% Cu. This interval was logged as a meta-sedimentary rock, with moderate to intense red-rock alteration and moderate to intense magnetite alteration. Sulphides comprised 2% to 5% pyrite and trace to 3% chalcopyrite throughout. This broad, low-level Cu mineralisation was considered significant, as a possible outer halo to economic Cu-Au ore.In 1999 MIMEX drilled a further 5 diamond holes and 2 RC holes, 4 of these (holes MFC99090D to MFC99093D) were drilled in a ‘star pattern’ surrounding, and beneath, hole MFC98059RC to test for vectors to ore grade mineralisation from this hole. The other 3 holes (MFC99098RC to MFC99100D) were drilled into separate MIMDAS IP targets elsewhere in the FC4 NW prospect. Detailed summaries of the logs are given in Faulkner et al. (2000) and logs and assays are supplied in appendix 4.Although encouraging copper mineralisation was drilled at FC4NW no ore grade intersections were encountered. All geophysical targets in this prospect have been tested with a combination of percussion and/or diamond drill holes. The drilling and DHIP logging (see below) have adequately explained the observed surface IP anomalism as being sourced from scattered and disseminated sulphides with possibly some contribution to the IP response from magnetite.


Hole ID CompanyDate

DrilledDrill Type Amg N Amg E RL Reg Depth Dip Mag Az

FTCC1252 WMC 11/10/1995

REVC

7749900

469500

150 18 -60

294

FTCC1255 WMC 8/30/1997

REVC

7748400

467800

150 12 -60

114

MFC97017RC

MIMEX 9/15/1997

REVC

7751323

467417

96 -70

129

MFC97018RC

MIMEX 9/16/1997

REVC

7751062

467200

96 -70

113

MFC97027D

MIMEX 11/13/1997

DD 7751302

467388

159.4

-60

124

MFC98028P

MIMEX May-98 PERC

7751050

467350

62 -90

0

MFC98029P

MIMEX 5/14/1998

PERC

7750800

466950

59 -60

124

MFC98030P

MIMEX May-98 PERC

7750675

466850

56 -90

0

MFC98031P

MIMEX 5/15/1998

PERC

7750550

466750

50 -65

304

MFC98032P

MIMEX May-98 PERC

7750550

467650

47 -90

0

MFC98033P

MIMEX May-98 PERC

7750800

467850

55 -70

124

MFC98034P

MIMEX 5/16/1998

PERC

7751050

468050

55 -75

129

MFC98035P

MIMEX May-98 PERC

7751300

468200

59 -65

125

MFC98041P

MIMEX 6/10/1998

PERC

7750800

468430

53 -90

0

MFC98042P

MIMEX 6/10/1998

PERC

7750550

468300

71 -90

0

MFC98043P

MIMEX 6/10/1998

PERC

7750500

468700

65 -90

0

MFC98044P

MIMEX 6/11/1998

PERC

7750375

469050

71 -90

0

MFC98051D

MIMEX 8/22/1998

DD 7750597

466705

240 -90

0

MFC98052D

MIMEX 8/27/1998

DD 7750860

466860

276 -90

0

MFC98053D

MIMEX 9/3/1998 DD 7751358

467020

276 -90

0

MFC98054D

MIMEX 9/9/1998 DD 7751110

467130

270 -90

0

MFC98059RC

MIMEX 11/17/1998

REVC

7750300

466470

246 -90

0

MFC99090D

MIMEX Apr-99 DD 7750450

466450

339 -60

124

MFC99091D

MIMEX 4/9/1999 DD 7750410

466300

489 -70

124

MFC99092D

MIMEX 4/27/1999

DD 7750220

466600

324 -90

0


MFC99093D

MIMEX 4/17/1999

DD 7750280

466320

360.4

-68

124

MFC99098RC

MIMEX 10/7/1999

REVC

7749550

468020

246 -90

MFC99099RC

MIMEX 10/10/1999

REVC

7749050

467849

252 -90

MFC99100D

MIMEX 10/14/1999

DD 7749050

467175

247.4

-70

84

Table 12: Drill hole collar details for the FC4NW prospect.

6.5.6. MIMEX Down-hole Logging & Electromagnetic SurveyingDrill-holes MFC98051D, 052D, 053D, 054D, and 059RC were logged by MIMEX for magnetic susceptibility, and all drill-holes except MFC98052D which was blocked, were logged by Zonge with a one metre 'a' spacing dipole-dipole IP-resistivity probe. In subsequent campaigns, MIMEX logged drill-holes MFC99091D and 092D for magnetic susceptibility, and Scintrex logged drill-holes MFC99091D, 092D, 098RC, 099RC and 100D with a half metre ‘a’ spacing Wenner array IP-resistivity probe, and drill-holes MFC99098RC, 099RC and 100D for


inductive conductivity and magnetic susceptibility. Digital data are provided in appendix 3 and drill collar locations are plotted on the MIMEX EM and drill-hole survey coverage map drawing 58320.Two drill-holes, MFC99090D and MFC99091D, were logged with single component DHTEM to test for any nearby EM responsive sulphide target. The survey was performed by Outer Rim Exploration Services using the Crone Pulse EM system. Two single turn surface transmitter loops, one 200m x 200m, the second 250m x 200m, were used for both holes. Digital data are provided in appendix 3 and drill collar locations are plotted on the MIMEX EM and drill-hole survey coverage map drawing 58320.A narrow in-hole response was recorded at 255m down hole on MFC99090D corresponding to the rich interval (greater than 10% by volume) of pyrite + chalcopyrite intersected. No other significant responses were noted in the DHTEM data.

6.6. FC6 ProspectThe FC6 target was identified for structural reasons as a possible fold closure disrupted by northeast trending faults and flanking a granitic body. In 1992 WMC completed ground magnetic, TEM and IP-resistivity surveys across the prospect, and as a consequence drilled three diamond and 10 RC holes. These drill-holes were followed up with one diamond hole and three RC holes during 1993-1994, along with a detailed ground magnetic survey. A further 4 RC holes were drilled in 1995.MIMEX undertook MIMDAS IP-resistivity/MT surveying to the south of FC6 during 2000 (14 lines), and four RC holes which contained little anomalism were drilled across the broader area of the tenement between 1998 and 2000.With the exception of the southern-most sub-block, the FC6 prospect was covered by the 1999 FC12 MIMEX UTS detailed aeromagnetic survey, the details of which are discussed in a previous section.

6.6.1. WMC Geophysical SurveysThe WMC 1992 regional gravity survey included the FC6 prospect. Digital data are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314.WMC carried out ground magnetics between AMG 475000mE–477000mE and 7753200mN–7756800mN at 10m stations on 200m spaced lines. No digital data are available, but a contour map of the total magnetic intensity (from Craske, 1991) is presented in digital form in appendix 2. The location and extent of the WMC FC6 ground magnetic survey are plotted on the WMC ground magnetic coverage plan drawing 58316.WMC completed eighteen 200m-spaced approximately east-west lines of 100m coincident loop reconnaissance TEM surveying over the FC6 prospect; a total of 319 stations were recorded at a 100 metre station spacing for a survey extent of 30 line kms. Digital data are not available, but stacked profiles for each line are presented in digital form in appendix 2. Loop locations for the WMC FC6 ground TEM survey are plotted on the WMC ground TEM coverage plan drawing 58317.WMC also completed thirteen lines (24.7 line kms) of 100m dipole-dipole IP-resistivity surveys, initially on 400m spaced east-west lines, then infilling to 200 metre line spacing where anomalous IP effects were recorded. Line extents are given in table 13 and digital data are included


in appendix 2. The location and extent of the WMC FC6 IP-resistivity lines are plotted on the WMC IP-resistivity coverage plan drawing 58318.


Line From To Length Comments

7753600N

475800E

477600E

1800

7753800N

476000E

477600E

1600

7754000N

474700E

477800E

3100

7754200N

474400E

476200E

1800

7754400N

474800E

476600E

1800

7754600N

474600E

476400E

1800

7754800N

474800E

476600E

1800

7755200N

475000E

476800E

1800

7755400N

475000E

476800E

1800

7755600N

475000E

477000E

2000

7755800N

475200E

477000E

1800

7756000N

475000E

476700E

1700

7756400N

475200E

477100E

1900

Table 13: WMC IP-resistivity surveys at FC6.

Four targets were defined for drilling from this geophysical work, comprising a strong linear magnetic anomaly on line 7754000N and three areas of coincident IP and magnetic anomalism.

6.6.2. MIMDAS IP-Resistivity/MT SurveysSeven 300m-spaced east-west lines of 100m combined dipole-pole and pole-dipole MIMDAS IP-Resistivity/MT (11.2 line kms) were surveyed by MIMEX in 1999 over the north-south magnetic ridge located on the eastern edge of the large intrusive to the south-east of the prospect. The IP data were collected with a pulse length of 25/1024 (40.96 secs full period) presumably to overcome very severe coupling responses. The amplitudes of the IP data were very small; no anomalies were interpreted from the IP or MT data.An additional seven 400m-spaced east-west lines of MIMDAS (14.7 line kms) were surveyed by MIMEX in 2000 over the southern extensions of the FC6 area. There was no significant anomalism reported.The location and extent of all MIMEX FC6 MIMDAS lines are plotted on the MIMEX IP- resistivity coverage plan drawing 58319. Digital data are included in appendix 3, and survey coverage is detailed in table 14.



7753800N

475850E

477450E

1600m

1600sps 1999 - First phase

7753500N

475850E

477450E

1600m


7753200N

475850E

477450E

1600m


7752900N

475850E

477450E

1600m


7752600N

475850E

477450E

1600m


7752300N

475950E

477550E

1600m


7752000N

475950E

477550E

1600m


7751600N

475550E

477650E

2100 1600&100sps

2000 - Second phase

7751200N

475550E

477650E

2100 1600&100sps

2000 - Second phase

7750800N

475550E

477650E

2100 1600&100sps

2000 - Second phaseerrors in MIMDAS data-base

7750400N

475650E

477750E

2100 1600&100sps

2000 - Second phase

7750000N

475650E

477750E

2100 1600&100sps

2000 - Second phase

7749600N

475650E

477750E

2100 1600&100sps

2000 - Second phase

7749200N

475650E

477750E

2100 1600&100sps

2000 - Second phase

Table 14: MIMDAS IP-resistivity/MT surveys at FC6

6.6.3. Xstrata Regional IP-Resistivity SurveysXstrata undertook regional IP-resistivity surveying across the greater FC6 area during 2003. The surveying comprised six lines for 35.3 line km of dipole-dipole IP/resistivity along kilometre-spaced east-west lines of which 29.55 line km lies within the relinquished sub- blocks. This work was designed to cover those areas not previously surveyed with either WMC IP-resistivity or MIMEX MIMDAS IP-resistivity/MT surveys. Survey parameters were a 100 metre dipole-dipole array with ten transmitter – receiver dipole spacings (50, 150, 250, 350, 450, 550, 650, 750, 850, 950 metres) and a 100 metre station spacing. Survey details are summarised in table 15. IP-resistivity results are presented in digital form in appendix 3; line locations and extents are plotted on the MIMEX IP-resistivity coverage plan drawing 58319

Line From To Extent Comments

7753500mN

470500mE

476750mE

6250m

7754500mN

471700mE

478050mE

6350m Data truncated at 477380mE

7755500m 473000m 478150m 5150m Data truncated at


N E E 477380mE7756500mN

473100mE

478150mE


7757500mN

473200mE

479150mE


7758500mN

472600mE

479150mE


TOTALS 6 lines 35300m

Relinquished coverage : 29550m

Table 15: Regional IP/resistivity Lines at FC6.

No IP anomalies indicative of significant hitherto unappreciated sulphide mineralisation were detected in the area.


6.6.4. DrillingWMC drilled 2 diamond drill holes and a single RC hole (FTCD1019 – 1020 & FTCC1031) to test the coincident IP and magnetic anomaly in the central FC6 area. The holes generally intersected pyrrhotite bearing, intensely ‘red-rock’ altered felsic volcanics with very fine grained magnetite and a late amphibole - magnetite assemblage. Mineralisation was strongest in the centre of the prospect with anomalous Cu.In the north of the prospect a zone of complex magnetic and IP anomalism was tested with a traverse of RC holes (FTCC1023 – 1029) intersecting similar units with a lesser sulphide content and low Cu concentrations. A final hole (FTCD1022) was drilled in the south but failed to test a N-S trending magnetic high with coincident IP anomalism. A repeat hole (FTCD1076) drilled 200m south in 1993, intersected magnetite veins which was deemed to explain the feature.Mapping in the north revealed the presence of ironstone lithologies that were drill tested by 3 RC holes (FTCC1077 – 1079) in 1993. Significant pyrite was intersected but no copper mineralisation. A further 4 RC holes were drilled by WMC in 1995, however no mineralisation was encountered and no further work was completed at the prospect by WMC.MIMEX drilled 4 RC holes during 1998 (MFC98048–49RC) and 2000 (MFC00120-121RC) as single hole tests of a variety of previously un-drilled magnetic, gravity, soil and IP anomalies, or combinations thereof. In general the holes adequately explained the anomalism, with holes drilled into magnetic targets intersecting sufficient magnetite and those drilled into IP targets intersecting disseminated pyrite. Results were generally poor with at best only spotty Au and no further work was completed at the prospect.Drill hole collars are detailed in table 16 below and geology and assays are tabulated in appendix 4.


Hole ID Company Date Drilled Drill Type

Amg N Amg E RL Depth Dip AMG Az

FTCC1021 WMC 10/4/1992

REVC 7754512

475374

139.49

2 -60

270

FTCC1023 WMC 9/18/1992

REVC 7755306

475470

139.68

39 -90

0

FTCC1024 WMC 9/20/1992

REVC 7755300

475672

139.4 60 -90

0

FTCC1025 WMC 9/21/1992

REVC 7755302

475591

139.56

64 -60

270

FTCC1026 WMC 9/22/1992

REVC 7755304

475552

139.67

60 -60

270

FTCC1027 WMC 9/23/1992

REVC 7755297

475752

139.35

65 -60

270

FTCC1028 WMC 10/4/1992

REVC 7755295

475832

139.13

60 -60

270

FTCC1029 WMC 10/4/1992

REVC 7755292

475911

138.84

7 -60

270

FTCC1031 WMC 10/20/1992

REVC 7754515

475304

139.59

100 -60

270

FTCC1077 WMC 5/24/1993

REVC 7755697

475669

139.33

80 -60

270

FTCC1078 WMC 5/26/1993

REVC 7755695

475720

139.28

85 -60

270

FTCC1079 WMC 9/3/1993

REVC 7755693

475779

139.11

72 -60

270

FTCC1263 WMC 11/26/1995

REVC 7748000

476500

150 18 -60

180

FTCC1264 WMC 11/26/1995

REVC 7749000

476500

150 66 -60

180

FTCC1265 WMC 11/26/1995

REVC 7750009

476809

150 90 -60

270

FTCC1266 WMC 11/26/1995

REVC 7751000

476500

150 66 -60

270

FTCD1019 WMC 8/22/1992

DD 7754502

475573

138.92

241 -70

90

FTCD1020 WMC 9/7/1992

DD 7754510

475449

139.24

200 -70

270

FTCD1022 WMC 10/16/1992

DD 7754052

476647

137.11

306.2

-60

270

FTCD1076 WMC 5/22/1993

DD 7753865

476540

138.21

204.5

-60

270

FTCP1032 WMC 10/21/1992

PERC 7755304

475517

150 64 -60

270

MFC00120RC

MIMEX 5/9/2000

REVC 7750400

477350

114 -60

0

MFC00121RC

MIMEX 5/13/2000

REVC 7750399

477360

192 -60

180

MFC98048RC

MIMEX 8/17/1998

REVC 7750810

476790

120 -60

280

MFC98049RC

MIMEX 8/17/1998

REVC 7751620

476800

126 -90

0


Table 16: Drill hole collar details for the FC6 prospect.

6.7. FC7 ProspectThe FC7 target was initially identified for structural reasons as steeply north-dipping magnetic bodies folded about an east-trending axis, cut by major NE and NW conjugate faults. In 1990 and 1992 WMC undertook ground magnetic and reconnaissance TEM surveys with little apparent anomalism. In 1993 two lines of IP-resistivity were completed and five RC holes drilled. These intersected some Au – Cu anomalism, and although WMC felt that drilling had been too sparse to adequately test the prospect, they completed no further work.In 1996, MIMEX completed soil sampling and an MT survey over FC7 as part of orientation work across the tenements. In 1997 a diamond hole was drilled into potassium-altered rocks with little anomalism. A single line of TEM was surveyed in 1997, and systematic MIMDAS was surveyed in 1997,1998 and 2000, all with little anomalism apparent.


6.7.1. Soil GeochemistryThe methodology of the soil survey completed in 1996 over a grid marked out between the FC2 and FC7 prospects was discussed in detail in the FC2 section of this report. Line grid coordinates are supplied in table 3. Assays are supplied in appendix 1.Two multi-element anomalous areas emerged from the soil-sampling program. One in a magnetically quiet zone to the west of FC7 and the other apparently over a NW fault with some demagnetisation adjacent to the main magnetic anomaly. The most consistent anomaly from the soil survey occurs over a discrete NW-trending magnetic feature on the northern margin of the FC7 prospect.

6.7.2. WMC Geophysical SurveysIn 1990 WMC carried out ground magnetics at 5m(?) stations on 200m spaced north-south lines, then in 1993 surveyed selected infill lines (at 10m stations) to reduce the line spacing to 100 metres over areas of interest. No digital data are available, but a contour map of the total magnetic intensity is presented in digital form in appendix 2. The location and extent of the WMC FC7 ground magnetic surveys are plotted on the WMC ground magnetic coverage plan drawing 58316.WMC completed five variably spaced approximately north-south lines of 100m coincident loop reconnaissance TEM surveying over the FC7 prospect; a total of 62 stations were recorded at a 100 metre station spacing for a survey extent of 5.7 line kms. Digital data are not available, but stacked profiles for each line are presented in digital form in appendix 2. Loop locations for the WMC FC7 ground TEM survey are plotted on the WMC ground TEM coverage plan drawing 58317.The WMC 1992 regional gravity survey included the FC7 prospect. Digital data are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314.WMC also completed two north-south lines (458700mE and 459100mE) of 200m dipole- dipole IP-resistivity surveying, however no anomalies were defined. Digital data are included in appendix 2. The location and extent of the WMC FC7 IP-resistivity lines are plotted on the WMC IP-resistivity coverage plan drawing 58318.The geometry of the magnetic anomaly and lack of IP anomalism caused WMC to downgrade their interpretation of the prospectivity of the FC7 target.

6.7.3. MIMEX Electromagnetic SurveysIn 1996 MIMEX commissioned Zonge to carry out two trial lines (7757200mN and 7758000mN) of MT at the FC7 prospect to test the MT technique for its ability to detect basement conductors beneath thick, conductive overburden. Digital data are not available, but resistivity and impedance phase pseudosections for each line are presented in digital form in appendix 3. Line locations and extents for the MIMEX Zonge FC7 ground MT survey are plotted on the MIMEX EM and drill-hole survey coverage map drawing 58320.The trial MT survey indicated that the MT method may be a better technique in the area as it gives cleaner high frequency data, allowing better penetration through the conductive cover sequences. A subtle 200m wide MT response was detected on survey line 7758000mN, although it was unclear if the response was associated with slightly thickened overburden, or with a target identified from interpretation of the magnetic and gravity data.


In 1997 MIMEX surveyed a single line of 100m moving loop TEM (7758000mN – 50 metre stations) to assess a subtle response noted in the 1996 Zonge MT survey at FC 7. Digital data for this survey are presented in appendix 3. Loop locations for the MIMEX FC7 TEM survey are plotted on the MIMEX EM and drill-hole survey coverage map drawing 58320.


1D inversions of the MT data had indicated a subtle 200m wide zone, which may have been a response from below the cover or alternatively a variation of the cover sequence thickness. It was considered that the source was shallow enough to be better defined with conventional EM prior to drilling. The TEM data did not support the notion of the response in the MT being possibly derived from secondary mineralisation and no further work was warranted.

6.7.4. MIMDAS IP-Resistivity/MT SurveysIn 1997, MIMEX surveyed three 1500-3300 oriented lines of 100m combined pole-dipole-pole MIMDAS IP-resistivity and MT at FC7 to test two linear magnetic zones striking NE-SW. Scout drill-hole MFC97008, targeted on the regional aeromagnetics, had intersected massive magnetite alteration over 14m and trace pyrite and chalcopyrite and a decision was made to test the area with further IP.Lines were established on a local grid using a compass and chain with the start and end points for each line surveyed with a differential GPS. Line survey parameters are presented in table 17. MT data was also collected on the three MIMDAS lines surveyed at FC7. Data was recorded over a frequency range of 400 Hz to 0.0061 Hz. Dipole size was 100m and MT (Ex/Hy) mode data only was collected.The MIMDAS data recorded at FC7 illustrates an IP-anomalous cover sequence over a less anomalous basement. The lack of a definite basement response in the IP data was considered surprising given the presence of massive magnetite alteration and the degree of variability seen in the IP data elsewhere. One interpretation was that the strong IP response in the cover might be masking subtle basement responses. 2D inversions of the MT data were consistent with logs from MFC97008 and MFC97007 in that they illustrated a conductive cover sequence at least 80m thick. The MT inversions were used to suggest an upper limit estimation on the depth of investigation achieved with the IP survey. Forward modelling of the IP-resistivity results indicated a basement resistivity of the order of 100ohm-m. However, inspection of the MT inversions suggested that below approximately 200m, basement resistivities change from 100ohm-m or less to more than 1000 ohm-m. This was taken to imply that the limit on the depth of investigation from the IP-resistivity component of the survey is around 200m as the apparent resistivities are not consistent with a 1000 ohm-m basement. No drill targets were defined from the data at FC7.In 1998, a further four 400m-spaced lines of MIMDAS surveying were carried out on a northeast extension of the same local grid to cover an extensive magnetite ironstone. Line survey parameters are presented in table 17. MT was again recorded at 1600sps and 100sps.The IP-resistivity data did not highlight any targets. Generally, IP responses at n spacings of more than 1.5 were in the order of 2.0 mV/V. Interpretation of the MT data likewise did not reveal any drill targets. The cover sequence in the northeastern part of the grid is significantly more IP anomalous than the basement, with amplitudes up to 6 mV/V at shallow depths.No drilling was completed by MIMEX at the FC7 prospect on the relinquished sub-blocks as a result of the geophysical surveys.The location and extent of all MIMEX FC7 MIMDAS lines are plotted on the MIMEX IP- resistivity coverage plan drawing 58319. Digital station location data, and digital geophysical data, the latter truncated at relinquishment


sub-block boundaries, are included in appendix 3.



9600’E’

8400’N’

11600’N’

3200m

YES 1997 – first phase

10000’E’

8400’N’

11500’N’

3100m


10400’E’

8400’N’

11600’N’

3200m


10900’E’

8300’N’

11500’N’

3200m

YES 1998 – second phase

11300’E’

8300’N’

11500’N’

3200m


11700’E’

8300’N’

11500’N’

3200m


12100’E’

8300’N’

11500’N’

3200m



6.7.5. DrillingAlthough WMC geophysical surveys did not delineate any significant anomalism, a traverse of5 RC percussion holes (FTCC1113-1117) was drilled by WMC to provide a first-pass geological and geochemical test of the target. Cover varied from 52-64m, with the basement consisting of ironstone (strongly dark rock altered) and minor moderately ‘dark- rock’ altered felsic metavolcanic rocks, with only trace chalcopyrite. Assay results and geological logs are available in appendix 4. Drill hole collar information is detailed in table 18.

Hole ID Company Date Drilled Drill

TypeAmg N Amg E RL

RegDepth Dip Local Az

FTCC1113 WMC 12/4/1993 REVC 7757125

458530

140.01

120 -60

180

FTCC1114 WMC 12/6/1993 REVC 7757246

458539

139.94

120 -60

180

FTCC1115 WMC 12/8/1993 REVC 7757363

458548

139.89

120 -90

FTCC1116 WMC 12/10/1993

REVC 7757675

460570

138.59

120 -90

FTCC1117 WMC 12/11/1993

REVC 7757796

460579

138.47

120 -90

MFC97008D

MIMEX 5/10/1997 DD 7758150

459200

138 -90

Table 18: Drill hole collar details for the FC7 prospect.

MIMEX drilled only a single diamond hole in the relinquished area in 1997. MFC97008D was drilled to test a 700m long NE-striking body showing moderately strong magnetic characteristics. Depth to basement was 88m at which point, approximately 6m of saprolitic weathered basement was intersected. K-spar alteration + biotite was developed within an extensive magnetite ironstone with only trace pyrite and chalcopyrite. Assays and geology are detailed in appendix 4.

6.8. FC12 Prospect


The FC12 prospect is an anomalous gravity high with a complex circular magnetic high superimposed, initially interpreted as having the potential to host a large haematite Cu-Au body. WMC performed a detailed ground magnetic survey covering the entire FC12 target, which provided several drill targets. A reconnaissance scale TEM survey, detailed gravity surveys and five lines of IP-resistivity were also completed.WMC drilled seven diamond holes in 1993 into the western part of the magnetic complex where the gravity signature was highest. All drill-holes intersected variously altered and brecciated diorite or gabbro with some narrow mineralisation at greater than 1% Cu, and trace Co, Ni, Mo, U, but without Au. Most drill-holes were geophysically logged. Little


further work was then completed. Further IP-resistivity surveying and, as a consequence, one RC hole were completed in 1994, again with interesting results. In 1995, 24 shallow RC holes were drilled to test the base of Tertiary for metal anomalism.The FC12 prospect was delineated as a multi-element anomaly in the regional enzyme leach soil survey conducted by MIMEX in 1997 over the entire MFC JV area. The FC12 anomaly comprised a strong, coherent, partial extraction Mo-As soil anomaly of 4km diameter surrounding smaller spotty Cu-Ni anomalies.MIMEX completed one RC drill-hole and one diamond drill-hole in 1997 in the centre of the magnetic complex, targeting magnetite-destructive haematitic mineralisation. Systematic MIMDAS surveying to the east and north of FC12 was undertaken in 1998, but the results were thought to be ambiguous because of thick black shale cover and consequent EM coupling; a single TEM line was also completed. Two MIMDAS lines were re-surveyed with a 200 metre dipole size in 2001 in an attempt to improve penetration into the basement.The FC12 prospect was covered by the 1999 FC12 MIMEX UTS detailed aeromagnetic survey, the details of which are discussed in a previous section.

6.8.1. WMC Geophysical SurveyingIn 1993 WMC performed a detailed ground magnetic survey (mainly 10m stations on 50m and 100m spaced east-west lines) covering the entire FC12 target. No digital data are available, but a contour map of the total magnetic intensity (from Mason et al., 1994) is presented in digital form in appendix 2. The location and extent of the WMC FC12 ground magnetic surveys are plotted on the WMC ground magnetic coverage plan drawing 58316.In addition to the 1992 regional gravity coverage of FC12, WMC completed a series of (typically) one kilometre spaced traverses (both east-west and north-south) at 100m station spacing, a detailed survey at 200m x 200m stations, and a smaller even more detailed area of 100m x 100m stations, over the FC12 prospect in 1993. Comparison of these data with the magnetics served to confirm that the short-period variations in gravity response, which are superimposed over a broad 2km diameter 4.5 mGal anomaly, were associated with the magnetic ironstones noted in the mottled appearance of the magnetic imagery. Digital data for all gravity surveys are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314.In 1993 WMC undertook a reconnaissance 200m coincident loop SIROTEM survey comprising eleven 400m-spaced east-west lines at 200m stations for a total of 13.6 line km (79 stations), and subsequently two extended orthogonal traverses of 100m coincident loop at 100m stations for a total of 9.2 line km (95 stations). The aim of this work was to test for a thick supergene zone, which would normally be developed in an area of deep oxidation such as FC12. Digital data for the early survey are presented in appendix 2. Digital data are not available for the later survey, but stacked profiles for all lines are presented in digital form in appendix 2. Loop locations for both WMC FC12 ground TEM surveys are plotted on the WMC ground TEM coverage plan drawing 58317.In 1993 WMC also completed five east-west lines of 200m dipole-dipole IP-resistivity over selected magnetic targets, plus a further line in early 1994. Anomalies defined by these data are associated with the zones of


magnetite or haematite alteration. Later in 1994, WMC surveyed two east-west IP-resistivity lines over targets to the east of FC12 proper. These results were interpreted to infer minor IP-anomalous material in the inner aureole of an possible diorite stock centred on 471800mE 7757000mN.Statistics for the FC12 IP-resistivity lines are presented in table 19, and digital data are contained in appendix 2. The location and extent of all WMC FC12 IP-resistivity lines are plotted on the WMC IP-resistivity coverage plan drawing 58318.


Line From To Length Comments

7756500mN

468400mE

471600mE 3200m

August 1993

7757500mN

468400mE

471600mE 3200m

August 1993

7757800mN

468500mE

471700mE 3200m

August 1993

7758100mN

468700mE

471900mE 3200m

March 1994

7758300mN

468300mE

471500mE 3200m

September 1993

7758700mN

468200mE

471400mE 3200m

August 1993

471500mE 7755300mN

7758500mN

3200m

October 1994

472000mE 7755300mN

7758500mN

3200m

October 1994

Table 19: WMC IP-resistivity surveys at FC12.WMC (Mason et al., 1994) reported that six drill-holes (FTCD1081, 1082, 1084, 1085, 1086 and 1087) were geophysical logged for magnetic susceptibility and natural gamma radiation, and drill-hole FTCD1081 was also logged for conductivity. However no data were presented. In 1994 WMC also surveyed four of these drill-holes (FTCD 1081, 1082, 1084 and 1085) with DHTEM; digital data for these surveys are presented in appendix 2. Collar locations for all FC12 drill-holes reportedly logged with geophysics by WMC are plotted on the WMC ground TEM coverage plan drawing 58317.

6.8.2. MIMEX Electromagnetic SurveyIn 1997 MIMEX surveyed a single line of 100m moving loop SIROTEM MkII TEM (7757550mN– 50 metre stations) at the FC12 prospect to check an anomalous response noted in the WMC TEM data, but which had not been previously reported by WMC. The MIMEX data did not repeat the WMC response and it was concluded that the response was an artefact of the SIROTEM Mk II coincident loop system. Digital data for this survey are presented in appendix3. Loop locations for the MIMEX FC12 TEM survey are plotted on the MIMEX EM and drill- hole survey coverage map drawing 58320.

6.8.3. MIMDAS IP-Resistivity/MT SurveysMIMEX surveyed ten 400m-spaced east-west lines of 100m combined dipole-pole-dipole MIMDAS IP-resistivity and MT in 1999 (30.6 line kms) to test the FC12 high priority enzyme leach anomaly (see above) which is coincident with a large gravity high and magnetite-altered contact aureole. Lines were established on AMG coordinates using a compass and chain; start and end points for each line were located with a differential GPS. Line survey parameters are presented in table 20; digital data are included in appendix 3.Most of the lines show some evidence of weakly elevated IP anomalism at large n spacings, however there are very few examples where there is reasonable continuity. No drill targets were generated from either the IP-resistivity or MT data. Two-dimensional modelling of the dipole-pole data from line 7757200mN was completed to determine the possible cause of the


weakly elevated IP values noted. Line 7757200mN was chosen, as the anomalous IP values are reasonably coherent. The 2D inversions confirmed the thick cover present at FC12. No basement conductors were detected from the MT data.MIMDAS surveying on the FC12 prospect continued in 2000 with the continuation of systematic coverage to the south. A further four lines (10 line kms) were completed; line survey parameters are presented in table 20 and digital data are included in appendix 3.The southern-most line of the survey, line 7755200mN, detected a conductive non-IP- anomalous basement source interpreted at a maximum depth of 100m. The low-resistivity anomaly is also evident in the MT data, however it does not appear to have an appreciable IP response as would be normally expected from a sulphide source.


Geophysical surveys at FC12 concluded in 2001 with two east-west lines of MIMDAS but using a 200-metre dipole size to increase depth penetration. Line survey parameters are presented in table 20; digital data are included in appendix 3.Inversion of the 200m MIMDAS data outlined a well-defined, kilometre wide, north-south trending zone of weakly anomalous IP effects straddling a broad resistivity gradient (more resistive to the east) beneath approximately 100 metres of conductive, non IP-anomalous cover. Dipole-pole data were significantly better than pole-dipole data on both lines. These results closely match those from a 1998 100m MIMDAS survey, where the dipole-pole array again produced a more coherent IP anomaly than the pole-dipole array. No drill targets were delineated.The location and extent of all MIMEX FC12 MIMDAS lines are plotted on the MIMEX IP- resistivity coverage plan drawing 58319.


7760400mN

468950mE

471750mE

2800m YES 1999 – first phase – 100m dipoles

7760000mN

468750mE

471750mE


7759600mN

468650mE

471750mE


7759200mN

468650mE

471750mE


7758800mN

470550mE

473650mE


7758400mN

470550mE

473650mE


7758000mN

470550mE

473650mE


7757600mN

470550mE

473650mE


7757200mN

470550mE

473650mE


7756800mN

470550mE

473650mE


7756400mN

471550mE

474050mE

2500m YES 2000 – second phase – 100m dipoles

7756000mN

471550mE

474050mE


7755600mN

471350mE

473850mE


7755200mN

471150mE

473650mE


7757600mN

470300mE

474500mE

4200m YES 2001 – third phase – 200m dipoles

7757200mN

470300mE

474500mE

4200m YES 2001 – third phase – 200m dipoles


6.8.4. DrillingA program of diamond drilling by WMC in 1993 was aimed at testing a selection of geophysical anomalies. FTCD1081-1085 tested the crudely ovoid FC12 gravity anomaly and produced anomalous Cu results, but no


Au values greater than detection limit. FTCD1086 was designed to test a zone of IP anomalism. No significant mineralisation was encountered although stockwork veins were intersected which contained trace chalcopyrite. FTCD1087 was designed to test a shoulder magnetic anomaly to the FC12 structure, which has coincident IP anomalism. No significant copper mineralisation was intersected.A single RC hole (FTCC1141) was drilled into the northern IP-anomalous portion of the 472000mE geophysical traverse. The hole intersected strongly weathered saprolitic metadiorite beneath 61m of Phanerozoic cover, becoming fresh after 100m. No Cu mineralisation was intersected.


Late in 1995 WMC drilled a further 24 short RC holes over various geophysical targets which did not intersect any Cu mineralisation. All assays and geological logs are reported in appendix 4 and drill hole collar details are displayed in table 21.

Hole ID Company Date Drilled Drill Type Amg N Amg E RL Reg Depth Dip Mag Az

FTCC1141 WMC 12/9/1994 REVC 7757600

472200

135.07

130 -90

FTCC1211 WMC 10/27/1995 REVC 7754400

470750

150 80 -90

FTCC1212 WMC 10/28/1995 REVC 7754550

471000

150 48 -90

FTCC1213 WMC 10/29/1995 REVC 7755800

472400

150 52 -90

FTCC1214 WMC 10/28/1995 REVC 7756600

472800

150 40 -90

FTCC1215 WMC 10/28/1995 REVC 7756600

473150

150 46 -90

FTCC1216 WMC 10/29/1995 REVC 7757500

472400

150 60 -90

FTCC1217 WMC 10/30/1995 REVC 7758050

472200

150 60 -90

FTCC1218 WMC 10/30/1995 REVC 7758550

472400

150 48 -90

FTCC1219 WMC 11/10/1995 REVC 7758950

473900

150 42 -90

FTCC1220 WMC 11/10/1995 REVC 7759620

471900

150 72 -90

FTCC1221 WMC 11/10/1995 REVC 7759950

469950

150 96 -90

FTCC1222 WMC 11/10/1995 REVC 7759750

469000

150 70 -90

FTCC1223 WMC 11/10/1995 REVC 7758700

469900

150 88 -90

FTCC1224 WMC 11/1/1995 REVC 7757700

470000

150 84 -90

FTCC1227 WMC 11/10/1995 REVC 7760750

471000

150 90 -90

FTCC1228 WMC 11/10/1995 REVC 7760775

472100

150 44 -60 270

FTCC1229 WMC 11/10/1995 REVC 7760000

471000

150 102 -60 90

FTCC1230 WMC 11/10/1995 REVC 7759000

471000

150 94 -60 90

FTCC1231 WMC 10/31/1995 REVC 7758000

471000

150 92 -90

FTCC1232 WMC 11/2/1995 REVC 7757850

469000

150 84 -90

FTCC1234 WMC 10/31/1995 REVC 7756700

471000

150 60 -90

FTCC1235 WMC 10/29/1995 REVC 7756600

472000

150 84 -90

FTCC1236 WMC 10/31/1995 REVC 7756000

470000

150 78 -90

FTCC1237 WMC 10/31/1995 REVC 7755700

471000

150 46 -90

FTCD1081 WMC 6/2/1993 DD 7757785

470101

136.38

434.5 -60 264


FTCD1082 WMC 7/12/1993 DD 7757500

469701

136.27

585.5 -90 219

FTCD1083 WMC Aug-93 DD 7757501

470006

137.4 118.7 -90

FTCD1084 WMC 8/9/1993 DD 7757501

470001

137.35

477.8 -90 0

FTCD1085 WMC 8/18/1993 DD 7756600

469951

137 372.5 -90 0

FTCD1086 WMC 11/1/1993 DD 7758101

470205

136.38

440.2 -60 354

FTCD1087 WMC 11/1/1993 DD 7758320

470130

136.42

399 -90

MFC97009RC

MIMEX 8/26/1997 REVC 7757300

470850

129 -60 90

MFC97010D

MIMEX Sep-97 DD 7756400

471000

180.3 -60 90

Table 21: Drill hole collar details from the FC12 prospect.


MIMEX drilled one RC hole and one diamond hole into the prospect in 1997.MFC97009RC was drilled to test for mineralisation associated with an interpreted 500m-long east-west oriented intrusive with a moderate magnetic response. Strongly altered and weathered Proterozoic basement was intersected at 78m with the intrusive showing strong feldspar to clay alteration to a depth of 96m. The intermediate intrusive contained trace pyrite and chalcopyrite, and from 107 to 108m, a trace amount of native copper was observed. MFC97010D was drilled to test the potential for mineralisation associated with an intermediate to mafic intrusive. The hole was drilled to 180.3m; intersecting white feldspathic granodiorite/altered gabbroic host rocks with only trace sulphides and no Cu anomalism. The mafic intrusive rocks are interpreted as the source of the gravity anomaly.

6.9. FC14NE ProspectThe FC14 prospect centred on a cluster of very intense shallow-sourced magnetic anomalies adjacent to the northeastern margin of a major mass of Naraku Granite. Two of the sub- blocks in this relinquishment report cover the northeastern corner of this prospect.

WMC completed ground magnetics and five lines of IP-resistivity over the prospect in 1994, followed by four lines of TEM in 1995. WMC also completed 22 RC drill-holes in 1995 (none within the relinquished sub-blocks in this report), intersecting strongly magnetite-altered metasediments and granitoid intrusives. However, copper values rarely exceeded 100ppm and gold values rarely exceeded detection limit. No further work was planned and the area was recommended for relinquishment.

6.9.1. WMC Geophysical SurveysThe WMC 1992 regional gravity survey included the FC14 prospect. Digital data for stations within the relinquished sub-blocks are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314.In 1994 WMC completed an extensive (15.6 square kms) and detailed (10m stations on 100m-spaced north-south lines) ground magnetic survey over the FC14 prospect. The extreme northeastern section of this survey lies within the relinquished sub-blocks. Digital data for the entire survey are included in appendix 2. The location and extent of the WMC FC14 ground magnetic survey are plotted on the WMC ground magnetic coverage plan drawing 58316.Also in 1994, WMC surveyed five lines of 200-metre dipole-dipole IP-resistivity over the FC14 prospect. The northern ends of two north-south lines (446600mE and 446800mE) lie within the relinquished sub-blocks. Digital data for these lines are included in appendix 2. The location and extent of the two relevant WMC FC14 IP-resistivity lines are plotted on the WMC IP-resistivity coverage plan drawing 58318.In 1995 WMC surveyed four lines of 100m coincident loop Sirotem TEM (100m stations), one of which (7751450mN) lies partly within the relinquished sub-blocks. Digital data are not available for this line, but a stacked profile is presented in digital form in appendix 2. TEM loop locations for FC14 line 7751450mN are plotted on the WMC ground TEM coverage plan drawing 58317.


6.10. FC15S ProspectTwo of the sub-blocks within the relinquishment area for EPM8648 lie to the south of prospect FC15. A partial extraction enzyme leach soil survey was conducted by MIMEX in the FC15 area in 1997, which partially overlaps the area to be relinquished. Three RC holes, drilled by MIMEX in 1997 also lie within the relinquished area. The WMC 1992 regional gravity survey included the FC15S sub-blocks. Digital data are included in appendix 2 and station locations are plotted on the WMC gravity coverage map drawing 58314. The FC15S


sub-blocks are covered by the 1997 FC15 MIMEX UTS detailed aeromagnetic survey, the details of which are discussed in a previous section.

6.10.1. Soil Geochemistry - Enzyme LeachAn enzyme leach soil geochemical survey was completed over the FC15 prospect in order to evaluate the likelihood of low-level geochemical anomalism having developed in the transported and recently deposited cover sequences. The survey overlies an interpreted intrusive body with a moderately strong magnetic association. A brief description of the procedure applied to the survey is detailed as follows:

An area of 75cm by 75cm was cleared of loose soil and grass; Soil was collected from about 15cm to 20cm depth; 25g was sieved to -60 mesh (-0.25mm); Duplicate samples were collected at approximately every 15th

sample site; Triplicate samples were collected at approximately every 75th

sample site; MIMEX standards were submitted with the batch.

Seven east-west lines spaced 1000m apart were planned with 200m spaced samples. Areas overlying selected parts of the interpreted intrusive were sampled at 100m intervals. Nine additional east-west lines at 200m NS spacing were sampled at 200m and 100m intervals as infill. The samples were assayed by ACTLABS in Canada using a proprietary, partial extraction technique (ENZ3). Most of the survey overlies sub-blocks relinquished in January 1999, with a detailed description of the survey, and the bulk of the data provided in appendix 2 of Reudavey & Huddy (1999). However, 39 samples were sampled from sub-blocks relinquished in February 2004 and are included in appendix 1 of this report.

6.10.2. DrillingTwo of the holes drilled into the FC15 prospect were initial scout holes and fall into the relinquished area. MFC97003RC and MFC97004RC intersected basement at 14m and 33m respectively. Both holes intersected a dark, magnetite altered intermediate volcanic host rock, overprinted by intense potassic and ‘red-rock’ alteration. Pyrite is a common late vein inclusion associated with actinolite and calcite infill, but no Cu/Au mineralisation was noted.MFC97019RC was planned following the FC15 UTS aeromagnetic survey. A moderate magnetic anomaly was drilled and basement was intersected at 40m. Moderate to strong clay alteration of feldspar minerals dominated the first five metres of the medium grained intermediate to felsic body. White plagioclase feldspar minerals show some clay alteration with biotite and magnetite being the dominant alteration mineral phase. Minor actinolite + k-feldspar alteration persists throughout the hole. Minor dark green amphibole minerals are moderately well developed in association with the biotite and magnetite alteration. Trace amounts of pyrite is present in association with calcite + actinolite + chlorite in late-stage crosscutting veins.Drill hole collar details are provided in table 22 and full geology and assay results are available in appendix 4.

Hole ID Company Date Drilled Drill Amg N Amg E RL Depth Dip Mag Az


Type RegMFC97003

RCMIMEX 4/28/19

97REVC 77484

65461580

126 -60

270

MFC97004RC

MIMEX 4/29/1997

REVC 7748595

460705

138 -60

270

MFC97019RC

MIMEX 9/17/1997

REVC 7750550

465363

96 -60

212

Table 22: Drill hole collar details from the relinquished areas of the FC15 prospect.


6.11. Pipeline ProspectThe Pipeline prospect was defined by MIMEX in 2000 as a prominent gravity high and corresponding magnetic low at the intersection of NW and SW oriented structures. Initially two RC scout holes were drilled into the target, one of which intersected weak Au mineralisation prompting further work in the area. Geophysical surveys completed at Pipeline, comprise a detailed gravity survey and three lines of MIMDAS. A series of targets were generated and tested with an aircore program and a further 4 RC holes. In 2003, two of the kilometre-spaced Xstrata regional IP-resistivity lines crossed the relinquished Pipeline sub-block.

6.11.1. MIMEX Gravity SurveyIn 2001 MIMEX contracted Scintrex to undertake a detailed (200m x 200m) gravity survey at the Pipeline prospect, the southern section of which (36 stations) lies within the relinquishment sub-block. Digital data are included in appendix 3 and station locations are plotted on the MIMEX ground magnetic and gravity coverage map drawing 58321.

6.11.2. MIMDAS MT/IP/Resistivity SurveysIn 2002 MIMEX completed three 400m-spaced north-south lines of 100m combined dipole- pole-dipole MIMDAS IP-resistivity and MT, the southern sections of which lie within the relinquished sub-block. Line parameters are presented in Table 23. No significant anomalies were present on these lines. Digital data, truncated at the sub-block boundary, are contained in appendix 3. The location and extent of the three MIMEX Pipeline MIMDAS lines are plotted on the MIMEX IP-resistivity coverage plan drawing 58319.


463800mE

7735350mN

7738650mN

3300m YES Data truncated at 7735000mN

464200mE

7735350mN

7738650mN


464600mE

7735350mN

7738650mN


Table 23: MIMDAS IP-Resistivity/MT at the Pipeline prospect.

6.11.3. Xstrata Regional IP-Resistivity SurveysXstrata regional IP-resistivity, designed to cover those areas not previously surveyed with either WMC IP-resistivity or MIMEX MIMDAS IP-resistivity/MT surveys, included coverage of the Pipeline area. Survey parameters were a 100 metre dipole-dipole array with ten transmitter – receiver dipole spacings (50, 150, 250, 350, 450, 550, 650, 750, 850, 950 metres) and a 100 metre station spacing; line spacing was one kilometre. Digital data for those sections of the IP-resistivity within the Pipeline relinquished sub-block are presented in digital form in appendix 3; line locations and extents are plotted on the MIMEX IP-resistivity coverage plan drawing 58319.

6.11.4. DrillingIn 2000, MIMEX drilled two scout RC holes (MFC00110RC - 111RC) to test previously untested targets. MFC00111RC lies within the relinquished sub-blocks, and was drilled into a 1000nT magnetic anomaly and intersected moderate magnetite alteration with weak Au mineralisation to 25 ppb throughout, albeit without Cu or other anomalism. Based on the results


from the gravity and MIMDAS surveys, further targets were generated at the Pipeline prospect for drilling in 2001.Forty-one vertical aircore holes were drilled to blade refusal over a 400m by 400m grid at the Pipeline gravity anomaly to test for base of cover dispersive anomalism over a prominent gravity high. Anomalous Cu–Au occurred in three adjacent holes towards the SE of the grid, although generally only in weathered diorite basement that occupies a basement high.


Anomalous Mo, As and to a lesser extent Ag & W occur in cover sediments adjacent to these holes, shedding off the basement high. The area of basement anomalism occurs south and southeast of a gravity high and corresponding magnetic low, at the intersection of NW and SW oriented structures, coincident with a broad, moderately-deep, weakly IP-anomalous MIMDAS anomaly. Eight of these aircore holes fall within the relinquished sub-blocks and are reported here.Drill hole collars are detailed in table 24 and geological logs and assays are available in appendix 4.

Hole ID Company Date Drilled Drill Type

Amg N Amg E RL Reg Depth Dip

MFC160AC MIMEX

5/28/2001

ACORE 7736500

463800

150 19 -90

MFC161AC MIMEX

5/28/2001

ACORE 7736100

463800

150 42 -90

MFC162AC MIMEX

5/28/2001

ACORE 7736100

464200

150 27 -90

MFC163AC MIMEX

5/28/2001

ACORE 7736500

464200

150 35 -90

MFC179AC MIMEX

6/27/2001

ACORE 7736500

464600

150 56 -90

MFC180AC MIMEX

6/27/2001

ACORE 7736100

464600

150 33 -90

MFC181AC MIMEX

6/27/2001

ACORE 7736100

465000

150 35 -90

MFC182AC MIMEX

6/27/2001

ACORE 7736500

465000

150 28 -90

MFC00111RC

MIMEX

3/3/2000 REVC 7736325

463600

150 -90

Table 24: Drill hole collar details for the Pipeline prospect

7. CONCLUSIONSExtensive exploration work has been conducted on the 50 relinquished sub-blocks from EPM8648 Mount Fort Constantine. WMC conducted both regional and specific geophysical surveys over the area between 1991 and 1996, consisting of gravity, ground magnetics, TEM and IP-resistivity surveys. Many of the targets delineated from these surveys were followed up by percussion, RC and diamond drilling and geophysical logging before granting management of the project to MIMEX.MIMEX farmed into the project in 1996 and immediately performed a data review to delineate their own targets. Several electrical geophysical methods were trialled to penetrate the deep cover in the area. Geophysical surveys conducted included gravity, ground magnetics, detailed aeromagnetics, TEM, MT, IP-resistivity, and extensive MIMDAS IP- resistivity/MT. Geophysical anomalies were tested with extensive drilling including percussion, aircore, RC and diamond drilling programs, and geophysical logging. Though weak metal anomalism was encountered in many of the targets, no ore grade intersections were found. No further work was recommended on the relinquished areas.


8. REFERENCES

Craske T., 1991, First Twelve Monthly Report, Mount Fort Constantine Joint Venture - EPM’s 6937, 7014, 7015, period ending 1 March 1991, Western Mining Corporation Exploration Division.Mason R., Johnson D., Hancock S., Bartsch R., Hayward S., & Hayward N., 1994, Second Twelve-monthly Report for the Mt Fort Constantine Joint Venture - EPM’s 8331 & 8648 Period Ending 13 February 1994, Western Mining Corporation Exploration Division.Page, R and Sun, S-S (1996), Age and provenances of granites and host sequences in the Eastern Fold Belt, Mount Isa Inlier, Economic Geology Research Unit, James Cook University, Contributions 55, pp 95-98.Reudavey, I.R. & Huddy C.J., 1999, Relinquishment Report for the Period Ended 25th January 1999 for Exploration Permit for Minerals No 8648 ‘Mount Fort Constantine’, Queensland.

DRAWINGS

APPENDICIES ONE – FOUR(Digital)

7760000 mN 7760000 mN

77500007750000

7740000 mN

FC2FC2

FC7FC7

FC15FC15

Pipeline

FC1FC122

FC3

FC4NWFC4NW

FC6

77500007750000 mN

7740000 mN

4500

00

4600

0046

0000

4700

00

Prospect

EPM8331 Boundary

4 0 4 8 12Kilometres

Scale: 1:200,00045

0000

4600

00

4700

00

XSTRATA COPPER EXPLORATION

EPM8648 - Mt Fort ConstantineProspect Locations - 2004

RelinquishmentRegion: NW QLD Projection: AGD 84 Author: P. Gow Scale: 1:200,0001:100,000 : 7057 Clonagh & 6957 Quamby Drawn: P. Gow Date: 12 February

20041:250,000 : SF54-2 Revision Date: Drawing No: 58276 Fig. No:

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

FC7 FC12

FC6

FC3FC2

FC14NE

FC15S FC4NW

ERNEST HENRY MINING LEASES

Pipeline

450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

50000,6,6,2,2,1,L,750,700,c

Scale 1:500001000 0 1000 2000 3000

metresAGD84 / Australian Map Grid zone 54

XSTRATA COPPER EXPLORATION Pty LtdMOUNT FORT CONSTANTINE JOINT VENTURE RELINQUISHED SUB-BLOCKS February 2004

WMC Gravity Surveys - Regional & Prospect scaleWMC Regional Survey 1992 WMC FC2 Survey 1993

WMC FC12 Survey 1992-1993

TVH - Mt Isa - 05-10-04 Drawing 58314

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

FC7 FC12

FC6FC3

FC2

FC14NE

FC4NW


Pipeline

450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

50000,6,6,2,2,1,L,750,700,c

FC15S

Scale 1:500001000 0 1000 2000 3000



WMC Ground Magnetic SurveysFC2 - 5m(1990) and 10m(1993) stations on 200m spaced E-W lines FC3 & FC6 - 10m stations on 200m spaced E-W lines

FC7 - 5m(1990) and 10m(1993) stations on 200m spaced N-S lines FC12 - 10m stations on 50m and 100m spaced E-W linesFC14 - 10m stations on 100m spaced N-S linesTVH - Mt Isa - 05-10-04 Drawing 58316

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

FC7FC12

FTCD1082

FTCD1087 FTCD1086

FTCD1081 FTCD1084

FTCD1085

FC6

FC3

FC2

FC14NE

FC15S FC4NW


Pipeline

450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

WMC FC12 Geophysical Drill-hole SurveysDrill-hole FTCD1081 : Magnetic Susceptibility, Natural Gamma Ray & Induction Conductivity ; Down-hole TEM Drill-hole FTCD1082 : Magnetic Susceptibility & Natural Gamma Ray ; Down-hole TEMDrill-hole FTCD1084 : Magnetic Susceptibility & Natural Gamma Ray ; Down-hole TEM Drill-hole FTCD1085 : Magnetic Susceptibility & Natural Gamma Ray ; Down-hole TEM Drill-hole FTCD1086 : Magnetic Susceptibility & Natural Gamma RayDrill-hole FTCD1087 : Magnetic Susceptibility & Natural Gamma Ray

50000,6,6,2,2,1,L,750,700,c

Scale 1:500001000 0 1000 2000 3000



WMC Ground TEM Surveys & Drill-hole Geophysical SurveysFC2 - 100m coincident loops at 100m station spacings FC3 - 100m coincident loops at 100m station spacings FC6 - 100m coincident loops at 100m station spacings FC7 - 100m coincident loops at 100m station spacings

FC12 - 100m/200m coincident loops at 100m/200m station spacingsTVH - Mt Isa - 05-10-04 Drawing 58317

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

200m dipole-dipole Line 7758700mN200m dipole-dipole Line

7758300mN 200m dipole-dipole Line 7758100mN

FC7 200m dipole-dipole Line 7757800mN 200m dipole-dipole Line 7757500mN

FC12

200m dipole-dipole Line 7756500mN100m dipole-dipole Line 7756400mN

100m dipole-dipole Line 7756000mN 100m dipole-dipole Line 7755800mN

100m dipole-dipole Line 7755600mN 100m dipole-dipole Line 7755400mN 100m dipole-dipole Line 7755200mN

FC6

200m dipole-dipole Line 7754500mN





FC2

100m dipole-dipole Line 7754800mN100m dipole-dipole Line 7754600mN





FC14NE

FC15S FC4NW


Pipeline

FC3

450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

50000,6,6,2,2,1,L,750,700,c

Scale 1:500001000 0 1000 2000 3000



WMC IP-Resistivity SurveysFC2 - 200m dipole-dipole IP-resistivity FC6 - 100m dipole-dipole IP-resistivity FC7 - 200m dipole-dipole IP-resistivity FC12 - 200m dipole-dipole IP-resistivity

TVH - Mt Isa - 05-10-04 Drawing 58318

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

MIMDAS Line 7760400mNMIMDAS Line 7760000mN

MIMDAS Line 7759600mNMIMDAS Line 7759200mN

MIMDAS Line

7758800mN MIMDAS

Line 7758400mN

Regional Line 7758500mN

FC7 MIMDAS Line 7758000mNMIMDAS Line 7F757C600m1N2 MIMDAS Line 7757200mN

MIMDAS Line

7757600mN (200m)

MIMDAS Line

7757200mN (200m)


MIMDAS Line 7756250mN

MIMDAS Line 7755850mN MIMDAS Line 7755550mN

MIMDAS Line

7755050mN

MIMDAS Line

7754650mNMIMDAS Line 7754250mN

MIMDAS Line 7756800mNMIMDAS Line 7756400mN MIMDAS Line 7756000mN MIMDAS Line 7755600mN MIMDAS Line 7755200mN


MIMDAS Line 7754200mN

dipole-dipole dipole-dipole

dipole-dipole

FC6




FC14NE

MIMDAS Line

7753850mN MIMDAS

Line 7753450mN

MIMDAS Line

7753050mN

MIMDAS Line

7752650mN

MIMDAS Line

7752250mN

MIMDAS Line

7751850mN

FC2

MIMDAS Line

7753800mN

MIMDAS Line

7753400mN

MIMDAS Line

7753000mN MIMDAS

Line 7752600mN



MIMDAS Line 7751050mN MIMDAS Line 7750800mN MIMDAS Line 7750550mN


MIM DAS Line 7749800mNMIMDAS Line 7749550mN MIMDAS Line 7749300mN MIMDAS Line 7749050mNMIMDAS Line 7748800mN

FC3 dipole-dipole

MIMDAS Line 7753800mN MIMDAS Line 7753500mNMIMDAS Line 7753200mN MIMDAS Line 7752900mN MIMDAS Line 7752600mN MIMDAS Line 7752300mN MIMDAS Line 7752000mN

MIMDAS Line

7751600mN

MIMDAS Line

7751200mN

MIMDAS Line

7750800mN

MIMDAS Line

7750400mN

MIMDAS Line

7750000mN

MIMDAS Line

7749600mN

MIMDAS Line

7749200mN


FC15S MIMDAS Line 7748500mN MIMDAS Line 7748200mN MIMDAS Line 7747900mN

MIMDAS Line 7747600mN MIMDAS Line 7747300mN MIMDAS Line 7747000mN


FC4NW

ne

lipe





450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

50000,6,6,2,2,1,L,750,700,c

Pi

Scale 1:500001000 0 1000 2000 3000



MIMEX MIMDAS & XSTRATA IP-Resistivity SurveysMIMEX : 100m MIMDAS dipole-pole-dipole IP-resistivity (most with MT) (FC3 : MIMDAS dipole-dipole surveys where noted)

(FC12 : MIMDAS resurveys with 200m dipoles where noted) XSTRATA : Regional 100m dipole-dipole IP-resistivityTVH - Mt Isa - 05-10-04 Drawing 58319

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

100m moving loop SIROTEM Line 7758000mN 100m dipole ZONGE MT Line 7758000mN

100m dip ole ZONGE MT Line 7757200mN

FC7 100m moving loop SIROTEM Line 7757550mN FC12

100m dipole ZONGE AMT Line 7754400mN

MFC98089D

FC3

FC6



FC2

FC14NE

MFC99091D MFC98059RC

MFC98053D MFC98054D

MFC98052DMFC98051D

MFC99090DMFC99092D

MFC99098RC

MFC99100D MFC99099RCFC15S FC4NW


Pipeline

450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

XSTRATA COPPER EXPLORATION Pty LtdMOUNT FORT CONSTANTINE JOINT VENTURE

RELINQUISHED SUB-BLOCKS February 2004MIMEX Drill-hole & Electromagnetic Surveys

50000,6,6,2,2,1,L,750,700,c

Scale 1:500001000 0 1000 2000 3000


FC2 - MFC98089D Magnetic Susceptibility & IP-Resistivity loggingFC4NW - MFC98051D,052D,053D,054D,059RC,091D,092D Magnetic Susceptibility logging FC4NW - MFC98098RC,099RC,100D Magnetic Susceptibility & Conductivity loggingFC4NW - MFC98051D,053D,054D,059RC,091D,092D,098RC,099RC,100D IP-Resistivity logging

FC4NW - MFC98090D and 091D Down-hole TEM surveys - loops 1 & 2 TVH - Mt Isa - 05-10-04 Drawing 58320

W

140°30' 140°35' 140°40' 140°45'450000E 455000E 460000E 465000E 470000E 475000E

FC7 FC12

FC6

FC3FC2

FC14NE

FC15S FC4N


Pipeline

450000E 455000E 460000E 465000E 470000E 475000E140°30' 140°35' 140°40' 140°45'

50000,6,6,2,2,1,L,750,700,c

Scale 1:500001000 0 1000 2000 3000



MIMEX Ground Magnetic & Gravity SurveysFC3 - 200m x 200m Gravity survey - stations as shown FC4(NW corner) - 100m x

100m Gravity survey - stations as shownFC4(NW corner) - Ground magnetic survey - extent as shown Pipeline - 200m x 200m Gravity survey - stations as shownTVH - Mt Isa - 05-10-04 Drawing 58321

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