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Metallica Minerals Ltd, Quarterly Report to 31 December 2011

Project Highlights

NORNICO Ni-Co-Sc “Tri-Metal ” Project – 100% MLM

- Lucknow detailed infill & step out drilling program completed in mid December 2011
- Drilling comprising 163 holes (LKRC 311 to 473) for 3,520m
- All drilling results received - updated Mineral Resource estimate due by mid February 2012
- Best intercept this drilling program was 23m @ 462g/t Sc (inc 13m @ 627g/t Sc using 400g/t Sc COG)
- Metallurgical bulk samples for HPAL Pilot Plant ore testwork delivered to SGS Perth
- Work commenced on NORNICO Environmental Impact Statement (EIS) with various work packages contracted out to sub consultants
- Base line water sampling and dust monitoring programs commenced at the NORNICO sites
- Mining Lease Application (MLA) 10366 (269 Ha) was surveyed over the Lucknow Sc-Co-Ni resource.

WEIPA ZIRCON-RUTILE HMS PROJECT – 100% MLM

- 22 targets identified through remote sensing (magnetics & radiometrics) on exploration tenements which cover approximately 2,000km2 of highly prospective yet under explored region for heavy mineral sand deposits.
- Ongoing feasibility and environmental impact statement (EIS) studies on the Urquhart Point Project.

GIPPSLAND ZIRCON-RUTILE HMS PROJECT – MLM option to purchase 100%

- First drilling program comprising 43 holes (2,290m) was completed in December with maiden JORC resource estimate using over 240 drill holes is expected in March 2012
- Due Diligence is well advanced on acquiring project from Rio Tinto Exploration Pty Ltd.


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