Mt Finnerty Project

The Mt. Finnerty nickel project has been farmed out to Reed Resources Ltd. Reed has the right to earn a 60% interest in the Mt Finnerty tenements by the expenditure of $2,000,000.

Reed has planned a $300,000 exploration program over the period November 2009 to March 2010 which will include induced polarisation geophysics, geological mapping, RAB and RC drilling.

Drilling scheduled for the first quarter of 2010 will test numerous geochemical and geophysical nickel targets.

Mt Dalgety Project

Volcanogenic massive sulphide (VMS) copper, zinc and lead targets have been identified on the property at the Booree Creek, Jumbo, Jumbo South, Beehi and Top Deck prospects.

Surface sampling of the gossans associated with these prospects has returned anomalous individual assays up to 1,403 ppm copper, 4,791 ppm lead and 4,016 ppm zinc. A program of ground geophysics, fixed loop and moving loop Transient Electro Magnetics (TEM), to locate sub surface VMS bodies associated with the gossan targets was completed in 2007.

Two rounds of RC drilling were completed in 2007 and 2008 to test geochemical and geophysical targets. Drilling intersected wide zones of low grade copper, zinc and lead mineralisation at shallow depths in weathered metavolcanics and metasediments.

In 2009, an initial copper, zinc and lead soil geochemistry was commenced to follow up on mineralised drill intercepts made beneath soil covered areas in the 2007 and 2008 drilling programs.