Company StatementMatrix Metals is a company focused on achieving...

Company Statement
Matrix Metals is a company focused on achieving growth based on the discovery, development and exploitation of oxide and sulphide copper deposits in the world class Mt Isa base metal province of North West Queensland.

The business plan of Matrix Metals is to grow to a mid tier, long term, low cost copper cathode producer based on the development and exploitation of the 100% owned oxide copper assets located in the world class Mt Isa base metals province. This plan will be achieved predominately by the exploitation of the existing resource and reserve inventory and via the achievement of ongoing exploration success on the significant, and largely unexplored, tenement portfolio.

The various phases of the plan will be implemented in strict accordance with Health and Safety, Environmental and Corporate Governance standards and with ongoing due respect to all interested parties particularly employees, native title claimants and landholders.



Current Operations
Matrix is a company focused on the production of London Metals Exchange (LME) Grade A copper cathode extracted from oxide copper deposits utilising the commercially proven heap leaching and solvent extraction / electrowinning process.

Matrix 100% owns two projects, namely the Mt Cuthbert Operation which includes the Mt Watson deposit and the White Range Project. Both projects are located in the world class Mt Isa base metals province of North West Queensland, Australia.

The province hosts a number of world class base metal projects and is well supported with services and infrastructure required by the resource and mining sectors.

In addition, Matrix is a proven explorer with a string of exploration successes within the two project areas. The exploration is clearly focused on oxide copper deposits located within trucking distance of the two project areas.

Matrix has structured the production growth profiles for both projects on exploration success delineating ongoing and even increasing oxide copper resource inventories.

Mt Cuthbert Project
The Mt Cuthbert Project comprises the following:


4 Mt oxide copper resource inventory contained within the following deposits:

Mt Watson
Hidden Treasure
Mighty Atom
Leichardt
The 5,500 tonne per annum capacity Solvent Extraction / Electrowinning processing facility comprising the following:

Heap leach pad infrastructure
Leach pad system
Solvent extraction plant
Electrowinning plant
Power station
Workshop and store
Office and administration complex
Laboratory
Village complex
Contractors village
Water supply system
A number of exploration targets where oxide copper mineralisation has been identified an interpreted. Such target areas include:

Mt Earl
Mt Wonder
Tewinga
Falls Valley
A pre-owned electrowinning plant which has the capacity to increase the Mt Cuthbert production capacity up to 12,000 tonnes per annum of copper cathode.


White Range Project
The White Range Project is an advance stage feasibility status project targeting the development of a heap leach SX/EW project of the same nature as Mt Cuthbert.
The White Range Project comprises the following:

12.5 million tonne oxide copper resource grading 1.2% copper. The resource is contained within the deposits know as:

Greenmount
Vulcan
McCabe
Kuridala
Stuart
Greenmount Resource Iso-surfaces @ 0.5% Cu Cuttoff
A partially completed feasibility study (by others) defining a copper cathode production capacity of 8,500 tonne per annum. Matrix is reconfiguring the study to assess production rates of up to 15,000 tonne per annum of copper cathode.
A number of exploration targets where oxide copper has been identified. Such target areas include:

Copper Canyon
Toby Barty
Desolation
Sierra


Gold at White Range
In addition to the significant copper resources and advanced exploration targets, the White Range area is highly prospective for gold.

Matrix owns a 3.6 million tonne gold resource grading 0.8 g/t which is located within the Greenmount copper resource boundary. There is potential for this gold resource to increase as the copper exploration continues at Greenmount.

Importantly, a host of other significant gold occurrences are documented at a range of locations within the 100% owned White Range tenements. Exploration of these target areas is planned to commence as an adjunct to the priority objective of oxide copper exploration.



Geographical Spread


Both projects located in the Mt Isa base metals district of north west Queensland, Australia



Board of Directors and Key Management
David J. Humann Chairman
Shane B. McBride Chief Executive Officer, Chief Financial Officer and Company Secretary
Clive Donner Non-Executive Director
Ronald Hing Non-Executive Director
Geoff M Jones Non-Executive Director
Richard Procter Non-Executive Director
Bob Dennis Chief Geologist


Company Address
1131 Hay St
West Perth, Australia 6005



Telephone: +61 8 9486 7100
Facsimile: +61 8 9486 7300
Email: email[at]matrixmetals.com.au
Website: http://www.matrixmetals.com.au