3D IP Survey at the Concordia Copper Project

Subsequent to the initial desktop study and definition of exploration targets for the Concordia Copper project an IP survey was planned for four of the priority target areas i.e. Homeep Trend Shirley Trend, Henderson and Klondike (in order of priority).

An initial test phase was conducted to test which IP survey would be best suited for the terrain and geological conditions. During the test phase a Dipole-Dipole IP survey was run in conjunction with the Distributed Array (3D) IP survey. The test phase concluded that the 3D IP survey methodology gave the best results and would be utilised going forward.

The following slides are a summary of the progress to date and illustrate some of the results obtain thus far.

The first slide shows the location of the planned test lines for the DP-DP survey (white lines) and the red circle shows the location of the first 3D test survey within the Homeep trend target area. These test sites were chosen based on the geological outcrops (basic bodies), mapped steep structures, grade indications and magnetic anomalies. The following three slides graphically present the modelled survey data at depths of 100m, 220m, and 320m respectively. From these it is evident that there are some shallow and deeper anomalies. Slide 5 gives an overall locality plan of historical drilling in and around the Homeep Trend target area with the IP chargeability data filter on chargeability greater than 11. This clearly shows three distinct higher chargeability targets – a strong NNW / SSE trend which relates to outcrop and some historical drilling. The two smaller anomalies toward the south of this main target also show higher chargeability from shallow to depth. The following three slides show the model point cloud in relation to historical drilling within the Homeep Trend target area with the current Homeep East ID2 datamine model. The yellow lines in slide 6 illustrate potential chargeability trends within the Homeep Trend target. The last four slides show the 3D IP model imported into datamine with grade shell halos with the topography, the Homeep East model and historical drilling. The yellow grade shell halos are for a chargeability greater than 11 and the red halos are for a chargeability greater than 12. These filters clearly show the three anomalous target areas which start from close to surface and expend deeper to about 700m. The larger NNW / SSE trending anomaly also correlates well with the current Homeep East model as can be seen in slides 10, 11 and 12.

These anomalies will be utilised to compile an exploration drilling programme to test these anomalies to help understand the IP signature and associated geology to assist in the construction of a greater geological model. The drilling programme will only be finalised once the infill survey is complete and the remaining target areas within the greater Homeep Target area have been surveyed.

Once the Homeep Trend has been completed the other target areas, Shirley Trend, Henderson and Klondike, will follow.