Eastman Project

Eastman Bore Intrusion: Geophysical & Geochemical Anomalies Size: 141 kb Width: 0 px Height: 0 px

Eastman Project Targets Size: 187 kb Width: 0 px Height: 0 px

Location and Tenements

The Eastman project is located 115km southwest of Halls Creek. Magma holds a 70% interest in the project.  There are three principal targets:

• Ni-Cu-PGM mineralization associated with the Eastman Bore mafic-ultramafic intrusion.
• Copper-zinc-lead-silver-gold mineralization in the Koongie Park Formation.
• Iron mineralization associated with strike extensive magnetic anomailes.

Geology, Exploration History and Targets

Eastman Bore Intrusion (Ni-Cu-PGM)

The Eastman Bore intrusion is an east-west trending mafic-ultramafic body with a 17km strike length. The eastern 6km of strike is partially exposed and has been the focus of earlier exploration; the remainder lies beneath transported cover and is largely unexplored. The earlier exploration identified PGM mineralization associated with thin chromite-rich layers and lenses hosted by ultramafic units, mainly within the exposed part, by trenching and drilling, with best results of 5m at 3.26g/t Pt+Pd+Au and 6 metres at 2.37g/t Pt+Pd+Au from 11m, respectively.

Earlier exploration also located malachite (secondary copper) near the base of the exposed section of the Eastman Bore intrusion. Rock chip sampling returned several assays of >1% Cu, with associated anomalous Ni, Pt, Pd and Au values, from two areas in particular, with better results up to 16.7% Cu, 0.25% Ni, 3.1% Cr, 0.21g/t Pt, 0.34g/t Pd and 0.6g/t Au. Subsequent mapping suggested that this mineralization represents magmatic sulphides, partly remobilized by later shearing. This highlights the potential for Ni-Cu-PGM mineralization at the base of the intrusion, particularly in the unexposed and unexplored strike extensions to the west. The principal Ni-Cu-PGM target in the project is a basal feeder zone to the intrusion analogous to the ore body at the base of the Sally Malay intrusion.

Koongie Park Formation (Cu-Zn-Pb-Ag-Au)

The Koongie Park Formation is a sequence of felsic volcanic rocks and sediments including banded iron-formation, chert and carbonate rocks, which host copper-zinc-lead-silver-gold mineralization within the tenements.  Magma completed an RC drilling program at the Eastman Prospect in 2006. A resource estimate was compiled based on this and previous drilling. This comprised an Inferred Mineral Resource of 1.5Mt @ 1.8% Zn, 0.7% Cu, 0.7% Pb & 16g/t Ag. Several other prospects have been identified as high priority targets, including Landrigan, Eastman Yard, Bullock Bore and Yellowstone.

Iron Ore Targets

Three prominent linear magnetic features extend over an aggregate strike length of 40km within the project area. Limited field reconnaissance over parts of these units indicates they likely represent supergene enrichment of iron above magnetite rich rocks.

This section was last updated on 16 July 2010. For more recent information, please refer to the "Investor Information" section.