PROJECTS

Projects Overview

Croydon Graphite Project

In July 2004 the Company, when named Gold Aura Ltd, undertook preliminary assessment of a large graphite deposit located at the Golden Gate mine. The graphite deposit was systematically drilled as part of a regional gold exploration program in the late 1980’s by Central Coast Exploration (CCE). Three vertical reverse circulation holes were later drilled by the Company between 2005 and 2007 that confirmed a thick graphite zone was present at Golden Gate.

Croydon Polymetallic Project

The drilling results at the A2 prospect are of particular interest, with discovery hole A2-001 returning a 5m massive sulphide intercept containing a weighted average of 8% Zn, 180g/t Ag, 0.58% Sn and 0.57% Cu (gold equivalent of approximately 9.9g/t Au¹). Similar high value massive sulphide filled fracture zones are present in six of the other holes and all nine holes contain thick intercepts of strong Zn-Ag anomalism indicating the presence of a large mineralizing system (see table 1 and figure 5). Mineralisation is hosted by Proterozoic sediments (banded siltstones) and commences at approximately 130m vertical depth near an unconformity with overlying Mesozoic cover rocks.
A vertical projection plot and cross sections of the more important massive sulphide zones from drilling at A2 show that the intercepts align in linear patterns with an east-west strike and apparent vertical dip. The hole spacing and pattern suggests a possibility for strike-dip continuity of the zones. The present hole spacing of 200m is too wide for certainty, but if proven the massive sulphide zones could represent a sizable polymetallic-tin deposit analogous to the Dajing deposits of Inner Mongolia that have been major producers of base metals, silver and tin for over 40 years.

Crater Mountain, PNG

Drilling for world class gold and copper discoveries

The flagship Crater Mountain Project is a potential multi million ounce gold deposit located in the eastern highlands of PNG. Significant gold mineralisation has been discovered on the surface and at depth in drilling.

Crater Mountian
Maiden Inferred Resources

A maiden inferred JORC compliant resource of 24Mt @ 1.0 g/t Au using a 0.5 g/t Au cut-off for 790,000 ounces has been defined ; this includes 9.4Mt at 1.46 g/t using a 1.0 g/t Au cut-off for 440,000 ozs (this inferred resource is open laterally and perhaps to depth, following down a possible steep plunge to the northeast) Importantly, the estimate does not include the High Grade Zone or the porphyry intrusion " feeder zone " at depth

Substantial Upside

Only considers part of Main Zone at Nevera
Main Zone still open
High grade zone identified within Main Zone
Significant upside potential yet to be drilled

Results indicate the potential for multiple major mineralisation events at Nevera, and highlight the pervasive nature of gold mineralisation through the overlying Nevera volcanics.

There is strong potential for further gold and copper discoveries at the adjacent prospects to Nevera.

¹ The gold equivalent value is calculated using metal prices from the London Metal Exchange quoted on the 23-1-13 and will vary as the metal prices rise or fall.