drilling recommeneced

UPDATE ON COPPER-GOLD EXPLORATION IN THE CLONCURRY REGION
Field exploration activities have recommenced on tenements within the Cloncurry district after pausing for the summer wet season.
Osborne project: In the Osborne area ~150 km south of Cloncurry, geophysical programs are currently underway across several tenements where the focus is sulfide-rich and/or hematite-rich IOCG-style mineralization. The geophysical programs include 14 line km of IP survey and two ground gravity surveys (Figures 1–2).
IP surveying at the Osprey target will test for further extensions of a >5 km long series of chargeability anomalies initially recorded by Ivanhoe Australia at and near the Kulthor Mine (IVA Quarterly Report Dec 2012) and also shown by Minotaur to extend to the southwest onto tenement EPM 18575. The new 2013 survey steps out 1 km further south to further delineate potential extensions to the mineralization (Figures 2–3). Depth to basement at the Osprey target is ~50–75 m.
The Brolga target, 7 km south of the Osprey target, is interpreted to have similar geological, structural and geophysical characteristics to the Osborne and Kulthor Mine region (Figure 2). Folded magnetic strata and strong axial planar features will be targeted by this reconnaissance IP survey which is the first electrical survey to be conducted at the Brolga target. Depth to basement at the Brolga target is ~75 m.
Reconnaissance IP surveying will also be conducted at the Wedgetail target (Figure 2). A distinctive magnetite-bearing intrusive complex is truncated on its southern margin by a regionally significant NW-trending structure. Airborne Falcon gravity data indicate that this faulted zone contains unexplained positive gravity anomalies, and hence will be the focus for both ground gravity and reconnaissance IP surveys. Depth to basement at the Wedgetail target is expected to be ~90–100 m.
27 March 2013