1. BROKEN HILL JOINT VENTURE PROJECT, N.S.W. (IPT 80%)
Maiden Drill programme completed for 1,012 metres;
- 32 metres at 1% copper, 0.5% nickel, 3.9 g/t Pt+Pd+Au and 10.6 g/t silver from 46 m down hole; with best intercepts of:
- 4.2 m at 2.6% copper, 0.5% nickel 10.6 g/t Pt-Pd-Au from 71.6 metres and
- 5.1 m at 1.9% copper, 0.9% nickel, 6.2 g/t Pt-Pd-Au and 18 g/t silver from 57.3 metres.
RHD006 has intersected a 27 m thick zone above RHD001 containing multiple zones of high grade nickel and copper including, for the first time, massive sulphide in a 0.5 m wide unit. Assay results of RHD006 and other holes are pending;
80% interest earned from Golden Cross Resources Limited.
2. OTHER PROJECTS
Commonwealth Project, N.S.W. (IPT 100%);
- Ground Induced Polarisation and ground gravity geophysical surveys completed;
Mulga Tank Nickel-Copper PGE Project (IPT 100% & earning 50-75%);
- $150,000 drilling co-funding grant awarded by the WA Government for drilling at the Mulga Tank dunite.
Annual General Meeting to held on Thursday 27th November 2014. All resolutions passed;
$1.14 M Research and Development Rebate received;
Cash balance at end of December 2014 Quarter: $2.1 million.
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