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Highlights
- Excellent progress achieved in the evaluation of the Watershed Tungsten Project in far North Queensland;
- Metallurgical test work confirms X-ray Ore Sorting is ideally suited to low-cost pre-concentration of Watershed tungsen ore, with bulk trials confirming early laboratory results giving over 100 percent upgrade at very high recoveries;
- Final results received for infill RC drilling campaign at Watershed, with close-spaced 58-hole reverse circulation drilling program confirming the presence of extensive high-grade tungsten intercepts in cross-cutting quartz-vein structures. The zones appear typical of the total of 17 such structures so far located within the bulk of the Watershed deposit;
- Final results received for the last 8 in-fill diamond core holes drilled in the 2007 campaign at Watershed confirm the presence of good grade tungsten in the previously un-drilled area in the north-west zone of the deposit, extended the northern boundary of the deposit by 300 metres further north and increased the known depth extent in the south-west area to 500 metres below the high point of the ridge;
- Results received from scout drilling at Watershed confirmed significant tungsten mineralisation well outside the current boundaries of the known resource;
- Preliminary engineering design of the process plant awarded to Lycopodium Engineering Pty Ltd;
- Environmental Impact Study lodged with the Queensland EPA has proceeded to the Public Notification stage;
- Indigenous Land Use Agreement signed with Traditional Owners;
- Feasibility Study on track for completion at the end of the third quarter of this year; and
- Initial RC drilling campaign completed at Mt Mulgine.