Laura River Project

Amphitheatre Cu-Au Target & Aeromagnetics Size: 795 kb Width: 0 px Height: 0 px

Amphitheatre Cu-Au Target – Schematic Cross-Section Size: 356 kb Width: 0 px Height: 0 px

Location and Tenements

The Laura River Project is located in the southern part of the Halls Creek Orogeny (HCO), 35km southwest of Halls Creek. Magma has a 70% interest in the project tenements.

The project is prospective for Ni-Cu-PGM mineralization associated with mafic-ultramafic intrusions, Cu-Zn-Pb-Ag-Au and Cu-Au mineralization associated with the Koongie Park Formation and Tickalarra Metamorphics, respectively, as well as structurally controlled high-grade gold mineralization. Recently, potential for iron mineralization was recognized associated with extensive magnetic anomalies in the project.

Geology, Exploration History and Targets

This part of the HCO is dominated by the Proterozoic Koongie Park Formation and Tickalarra Metamorphics, which are prospective for Cu-Zn-Pb-Ag-Au mineralization as well as Cu-Au mineralization. This sequence is intruded by small Proterozoic mafic-ultramafic intrusions which are prospective for Ni-Cu-PGM mineralization. Extensive colluvium and residual and transported laterite covers bedrock throughout much of the area. Within the project area, the structural fabric is dominated by the northeast trending Laura River, Mary River and Lamboo Faults and east-west trending link faults; these structures are prospective for high-grade gold mineralization.

Excellent regional exploration datasets have been developed which include:

• A multi-element stream sediment (drainage) sampling survey of the whole project area;
• A detailed aeromagnetic survey of the whole project area;
• An airborne electro-magnetic (AEM) survey over the western part of the project area; and
• Reconnaissance soil and rock chip sampling surveys.

In the December quarter 2009, diamond drilling to test an iron-oxide copper gold target intersected a 90m down-hole interval of magnetite mineralization. The mineralization is associated with one of a series of prominent linear magnetic anomalies which extend for some 20km along strike. Further reconnaissance evaluation of this target is planned.

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