DEVELOP GLOBAL LIMITED — Investor Presentation 2016

Jun 6, 2016

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ASX Announcement
ASX Code: VXR
Released: 7 June 2016
For further details
John Nitschke
Managing Director
T: +61 8 6389 7400
admin@venturexresources.com
Board
Tony Kiernan
Chairman
John Nitschke
Managing Director
Anthony Reilly
Non-Executive Director
Darren Stralow
Non-Executive Director
Trevor Hart
Company Secretary
Contact Details
Registered Office
Level 2
91 Havelock Street
West Perth WA 6005
T: +61 8 6389 7400
F: +61 8 9463 7836
admin@venturexresources.com
www.venturexresources.com
ABN: 28 122 180 205
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IP Survey at Mons Cupri Identifies Promising Anomalies

High-powered IP geophysical survey over targets identified by mapping indicates potential for extensions to high grade massive sulphides and new VMS systems

Highlights

• Preliminary assessment of data indicates strong IP anomalies that further support the potential for extensions of the known high-grade VMS mineralisation at Mons Cupri.

• IP anomalism observed in target zones for VMS-style mineralisation to the east and north of the Mons Cupri open pits.

• New area of IP anomalism identified to the south of the Mons Cupri open pits.

• 26.5 line km of IP surveys completed, with good productivity resulting in the overall program coming in under budget.

Venturex Resources (ASX: VXR "Venturex" and the "Company") is pleased to advise that it has completed the data collection phase of a high-powered Induced Polarisation (IP) survey aimed at defining extensions to the Mons Cupri Resources which form part of its 100% owned Whim Creek Copper Zinc Project , located 115km to the south-west of Port Hedland in Western Australia.

The IP survey is the latest step in the Company's back to basics exploration strategy which is part of the effort to identify near-term production opportunities that can be achieved at Whim Creek in today's market conditions and follows the recently completed geological mapping exercise at the Mons Cupri open pits and surrounds. This mapping identified the potential for extensions of high grade massive zinc and lead and associated high grade stringer copper-gold sulphide mineralisation to the west and down-plunge of the current Resource, repeats of the Mons Cupri Volcanogenic Massive Sulphide (VMS) system to the north and indicators of potential for other VMS mineralising events to the east (see ASX Release - 17 May 2016).

The IP survey was designed to test these target areas by identifying stringer mineralisation within the VMS systems which may act as a vector to high grade massive zinc, lead and high grade stringer copper-gold sulphide mineralisation that is commonly present in these systems.

The Company is targeting an extension of the high grade mineralisation identified in previous drill intersections to the west of the Mons Cupri open pit including 18m grading 5.0% Cu, 1.9% Zn, 0.6% Pb and 3.4g/t Au from 34m (MCD001) and 6m grading 7.4% Zn and 2.3% Pb from 68m plus 9m grading 4% Cu and 4.1g/t Au from 80m (MCR006) (see ASX announcement – 30 June 2010) (figure 1).

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The IP survey was undertaken by Zonge Engineering and Research Pty Ltd under the supervision of Venturex’s geophysical consultant Russell Mortimer from Southern Geoscience Consultants Pty Ltd. The 26.5 km line kilometre survey was over 14 lines spaced 200 metres apart. A collinear dipole - dipole array with receiver stations on a 100m spacing along lines was used giving the ability to read to depth of approximately 250 -300m below the surface.

Preliminary assessment of the data collected by the ground survey has indicated:

• Strong IP anomalies to the east and west of the Mons Cupri open pits, along the inferred strike of the structures controlling high grade massive zinc and lead and associated high grade stringer copper-gold sulphide mineralisation that provide support for potential extensions;

• IP anomalism on four 200 metre spaced survey lines east of the Mons Cupri open pits that generally correspond with a strong zone of sericite alteration identified in the recent field mapping and indicate proximity to VMS style mineralisation;

• IP anomalism at depth on the down thrown side of an NNE striking fault north of the Mons Cupri open pits that indicate the potential for a repeat of this mineralisation; and

• IP anomalism across three 200 metre spaced survey lines located 1 km south of the Mons Cupri open pits and over the interpreted down dip extension of the Cistern Formation, which is the host for the VMS mineralisation, that has identified the potential for a new VMS system.

These anomalies are shown in Figure 2.

The data will now undergo detailed processing/inversion and interpretation that will be feed back into the Company's new geological model for Mons Cupri and assist in defining drill targets aimed at extending the high grade sulphides. Results will be available in the third quarter, 2016.

This work has continued to reinforce the significant untapped exploration potential for the broader Whim Creek Project, which includes the Mons Cupri, Whim Creek, Evelyn and Salt Creek copper-zinclead and precious metal Resources, together with 18,500 hectares of tenements covering the Whim Creek, Salt Creek and Liberty VMS basins.

Venturex's Managing Director John Nitschke said that the results of the IP survey, when combined with the detailed field mapping recently carried out, highlight the potential to extend the high grade massive zinc and lead and associated high grade stringer copper-gold sulphides already contained in the Mons Cupri Resource.

“The IP survey has also identified anomalism that further supports the potential for new VMS mineralisation systems along strike to the north and east of the Mons Cupri pits and now in a new and unexpected position to the south," he added.

“Our exploration team is to be congratulated on their efforts, which have reinvigorated and rejuvenated the exploration and growth opportunities available to us at a Project which has received virtually no exploration attention for several decades."

JOHN NITSCHKE Managing Director

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For further information, please contact:

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Investors

John Nitschke / Trevor Hart Media: Venturex Resources Limited Nicholas Read – Read Corporate Ph: +61 (08) 6389 7400 Ph: (08) 9388 1474 Email: admin@venturexresources.com Email: info@readcorporate.com.au

About Venturex Resources Limited

Venturex Resources Limited (ASX: VXR) is an exploration and development company with two advanced Copper Zinc Projects near Port Hedland in the Pilbara region of Western Australia. The two projects are the Sulphur Springs Project which includes the Sulphur Springs Project, Kangaroos Caves Resource plus 27km of prospective tenements on the Panorama trend and the Whim Creek Project which includes the Resources at the Whim Creek, Mons Cupri and Salt Creek mines together with the Evelyn project and 18,100 ha of prospective tenements over the Whim Creek basin. Our strategy is to work with our partners Blackrock Metals to expand and extend the existing 4 tonne per day oxide copper heap leach and SXEW operation at Whim Creek, identify other near term production options at Whim Creek, Mons Cupri and Sulphur Springs and fully optimise the Sulphur Springs Project have it shovel ready to take advantage of forecast improvements in base metal prices.

Competency Statements

The information in this announcement that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled or reviewed by Mr James Guy who is a Member of the Australasian Institute of Mining and Metallurgy. The information contained in this announcement was previously released in announcements “Company Resource and Reserve Statement – Revised” released 8 October 2013.

• The Company confirms that:

• a. The form and context of the material in this presentation has not been materially modified from the above previous announcements;

• b. It is not aware of any new information or data that materially affects the information included in the 8 October 2013 announcement and that all material assumptions and technical parameters underpinning the estimate in the 8 October 2013 announcement’s continue to apply and have not materially changed; and

• c. It is uncertain that following further exploration and evaluation that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC 2012 Code.

The information in this announcement that relates to Geophysical Exploration Results is based on information compiled by Mr Russell Mortimer, who is employed as a Consultant to the Company through geophysical consultancy Southern Geoscience Consultants Pty Ltd. Mr Mortimer is a member of the Australian Institute of Geoscientists and a member of the Australian Society of Exploration Geophysicists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mortimer consents to the inclusion in the report of matters based on information in the form and context in which it appears.

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Figure 1 – Cross Section through sulphide resource at Mons Cupri Open Pit.

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Figure 2 - Map showing Mons Cupri Open Pits and IP anomalies

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Notes relating to the Whim Creek Resource Statement Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation		Commentary
Sampling techniques	1. Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. 2. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. 3. Aspects of the determination of mineralisation that are Material to the Public Report. 4. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.		Ground IP Survey Zonge Research and Engineering Organisation Pty Ltd (Zonge) were contracted to conduct the ground IP survey. Equipment and sampling techniques employed by the survey are listed as follows: Equipment GDD Receiver (16 Channel) 2XGDD Txll slaved high voltage transmitters - 10 kva Specifications 100m dipole spacing - receiver – transmitter 200m line spacing 2D in-line/collinear configuration 0.125Hz Base frequency Average Current approx. 4-6 amps Historical Drilling A number of generations of drilling have been undertaken on the Mons Cupri Deposit since the 1960’s. The drilling results detailed in this report were based on drilling undertaken by Venturex Resources between 2010-2011 and reported under JORC 2004 reported standard to the Australian Stock Exchange during 2010-2011.
Drilling techniques	5. Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).		Historical Drilling MCR Series Drilling: was undertaken using an industry standard 5.5 inch face sampling hammer MCD Series Drilling was undertaken using NQ2 sized core bit.
Drill sample recovery	6. Method of recording and assessing core and chip sample recoveries and results assessed. 7. Measures taken to maximise sample recovery and ensure representative nature of the samples. 8. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.		Historical Drilling MCR Series Drilling: RC samples were collected to industry standards of the day. The locations of intervals of damp or wet samples or low recovery were recorded and entered into the database. The cyclone and splitter were routinely inspected and cleaned during the drilling ensuring no excessive material build- up. Care was taken to ensure the split samples were of a consistent volume. There is no detected or material bias or relationships of sample recoveryand

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Criteria	JORC Code explanation		Commentary
			grade. MCD Series Drilling: All operators recorded diamond drill core recovery as a percentage of measured recovered cores versus drilled distance. Recoveries were generally high except for cavity zones in the oxide zone.
Logging	9. Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. 10. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. 11. The total length and percentage of the relevant intersections logged.		Historical Drilling MCR Series: RC drill holes were geological logged using a Company standard logging legend. All holes were logged at one metre interval taking a sample from the bulk sample bag. One metre samples were stored in a chip tray for future reference. MCD Series: Diamond drill holes were geologically logged in their entirety and photographed. Diamond drilling was logged for geotechnical purposes. Logging was at an appropriate detailed quantitative standard to support future geological, resource, reserve estimations and technical/economic studies. All holes were logged in full.
Sub-sampling techniques and sample preparation	12. If core, whether cut or sawn and whether quarter, half or all core taken. 13. If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. 14. For all sample types, the nature, quality and appropriateness of the sample preparation technique. 15. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. 16. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. 17. Whether sample sizes are appropriate to the grain size of the material being sampled.		Historical Drilling MCD Series: Diamond core was sawn with a diamond saw and half core samples taken for assay. MCR Series: 1 metre RC samples were collected and split off the drill rig using a cone splitter. Approximately 90% of the samples were dry in nature. The sampling techniques for collection of the sample to be submitted to the assay facility for both diamond drilling and RC drilling are of consistent quality and appropriate. Venturex had on site during drilling and sampling operations, technically competent supervision and procedures in place to ensure sample preparation integrity and quality. Some field duplicates were taken for RC drilling but not for diamond drilled samples. The sample sizes are considered appropriate given the relatively fine grained nature of the sulphide mineralisation which is not nuggetty in nature, the sampling methodology and the percent assay value ranges involved.

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Criteria	JORC Code explanation		Commentary
Quality of assay data and laboratory tests	18. The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. 19. For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. 20. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.		Historical Drilling For the majority of both diamond and RC drilling Venturex has used Ultratrace Laboratories Pty Ltd (ALS). ALS has been used for the analysis of one batch of samples. Analytical techniques involve either a three or a four acid digest with a multi- element suite MCR Series: Ultratrace elements analysed Ag, Cu, Cr, Pb, Zn. Ag, Pb by ICPMS , Cu, Zn, Cr by ICPOE Elements ALS Laboratories Perth - elements analysed Ag, Au, Cu, Pb, Zn. Au by Fire assay AAS finish. Ag, Cu, Pb, Zn four acid digestion ICPES MCD Series: ALS Laboratories Perth - elements analysed Au, Pt, Pd, Ag, Pb, Cu, Cr, In, Zn Au, Pt, Pd by fire assay AAS finish. Ag, Pb, In by ICP103, and Cu, Cr, Zn by ICP 104 All methods of analysis are considered to provide total assay values. No geophysical tools were used to determine any element concentrations reported. Field duplicates were submitted by the company. Only laboratory inserted blanks and reference standards were inserted for QAQC checks. The available results of this QA/QC work indicate no material bias to assay results used by this report.
Verification of sampling and assaying	21. The verification of significant intersections by either independent or alternative company personnel. 22. The use of twinned holes. 23. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. 24. Discuss any adjustment to assay data.		The drill intersections reported in this announcement are identical to the results previously reported in the company’s June 2010 announcement to the ASX. The competent person recalculated the results from the database records for this announcement. No specific twinned holes have been drilled. Data recording used a set of standard Excel templates on a data logger and uploaded to note book computer. The data is sent to Perth office for verification and compilation into an SQL database by the in-house database administrator. Full copies are stored offsite. Full data base verification of all historical information has been completed by the company.
Location of data points	25. Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. 26. Specification of thegrid system used.		Ground IP Survey Transmitter and receiver stations were laid out by Whelan’s Surveys of Port

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Criteria	JORC Code explanation		Commentary
	27. Quality and adequacy of topographic control.		Hedland using a DGPS. The IP crew took a GPS reading of each site allowing for adjustments as a result of local topography during the survey. Historical Drilling The collar positions of both the MCR and MCD series drilling were surveyed using a DPGS unit owned by the company with an accuracy of 0.1cm Downhole surveys were performed on all holes by either single shot Eastman camera or reflex gyro readings at 10-50 metre down whole intervals. The grid system used for the location of all drill holes is MGA_GDA94, Zone 50. Topographic control is provided by combination of external survey control, photogrammetry analysis and DGPS reading.
Data spacing and distribution	28. Data spacing for reporting of Exploration Results. 29. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. 30. Whether sample compositing has been applied.		Ground IP Survey The IP survey lines around the Mons Cupri and Northwest pits have been positioned to fit around disturbances caused by mining and are not perpendicular to the assumed strike of the stringer mineralisation. Away from the mine areas the lines are perpendicular to the assumed strike of the stringer mineralisation. Historical Drilling The MCR and MCD drilling was planned to infill existing pre 2010 drilling. Due to access for drill sites drilling patterns vary from nominally 40m by 40m to 30m by 30m in the plane of the mineralisation. The current spacing is adequate to assume geological and grade continuity of the mineralised domain to an Indicated and Inferred resource level.
Orientation of data in relation to geological structure	31. Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. 32. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.		Ground IP Survey The lines around the Mons Cupri and Northwest pits are not perpendicular to the assumed strike of the deposit and could introduce a bias with respect to the magnitude and position of the anomalies which will have to be taken into account when interpreting the data. The IP technique is less suitable for detection of massive sulphide mineralisation, and the survey has been planned to primarily detect stringer mineralisation that will act as a pathfinder for massive sulphides. Historical Drilling Limitations imposed bythe rugged terrain dictates that some drillingis

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Criteria	JORC Code explanation	Commentary
		conducted at angles not perpendicular to the dip of the mineralised system. The massive sulphide body above the stringer mineralisation strike approximately NW-SE and dips 25 deg to the SW. The stringer mineralisation strikes approximately EW and dips 85 deg to the north. Depending on the orientation of the drill hole it may intersect one style of mineralisation and not the other which will introduce a bias to the interpretation.
Sample security	33. The measures taken to ensure sample security.	The IP data is collated electronically in the field, and sent electronically via email to Zonge head office for QA/QC and verification before being emailed to Southern Geoscience Consultants for independent QA/QC, processing and interpretation. For the drill samples the chain of custody is managed by Venturex. The samples are transported by Venturex personnel to Whim Creek, stored in a secure facility and collected from site by Toll IPEC and delivered to the assay laboratory in Perth. Online tracking is utilised to track the progress of batches of samples.
Audits or reviews	34. The results of any audits or reviews of sampling techniques and data.	An experienced geophysicist at Southern Geoscience Consultants in Perth independentlyreviewed all data acquired from the IP surveyat Mons Cupri.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	35. Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. 36. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The Mons Cupri Deposit is located within M47/238, the registered owner of the tenement is Venturex Pilbara Pty Ltd, a wholly owned subsidiary of Venturex Resources Ltd. The tenement is within land where native title has been determined. The traditional owners of the land are the Ngarluma People. The grant of the tenement predate native title, and are not subject to native title claim, however the company has a mining agreement in place with the Ngarluma People that sets out a relationship between the two parties. There are no royalties over the tenement. The tenement is agranted MiningLease,is ingood standingand no known

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Criteria	JORC Code explanation		Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary
			impediments exist.
Exploration done by other parties	37. Acknowledgment and appraisal of exploration by other parties.		Previous exploration and mining has been undertaken by a number of parties going back over 90 years. Modern exploration and mining has been undertaken by Texasgulf Australia Pty Ltd, Whim Creek Consolidated Pty Ltd, Dominion Mining Ltd and Straits Resources Ltd.
Geology	38. Deposit type, geological setting and style of mineralisation.		The Mons Cupri Deposit is located with the Archaean Whim Creek Basin, a sequence of intermediate to felsic volcanic, volcanoclastic and sediments. The deposit is classed as a volcanogenic massive sulphide deposit. Massive sulphide and stringer sulphide mineralisation has been deposited at the top of the Cistern Formation which comprises a thick sequence of volcanogenic conglomerate/breccia with minor sandstone and shale units. The Cistern Formation is overlain by the Rushall Shale Formation.
Drill hole Information	39. A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: 40. easting and northing of the drill hole collar 41. elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar 42. dip and azimuth of the hole 43. down hole length and interception depth 44. hole length. 45. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.		Ground IP Survey The IP anomalies identified in this report have been interpreted on the basis of preliminary processing of field data, after routine QA/QC checks of data quality have been completed. Final processing of the data is required once the survey has been completed. This will provide more accurate interpretation of the anomalies including position and depth to top of source. Historical Drilling The table below lists the drill holes completed by Venturex Resources between 2010-2011 on the Mons Cupri deposit.
			Hole_ID	Hole Type	Max Depth	MGA_ Grid_ID	MGA_East	MGA_North	MGA_ RL	Collar_ Dip	Collar Mag_A z	Date_ Completed
			MCD001	DD	86.4	MGA94_50	583896.402	7690823.645	86.788	-90	358	15-Nov-10
			MCD002	DD	183.3	MGA94_50	583895.079	7690828.996	87.397	-75	88	10-Nov-10
			MCD003	DD	228.7	MGA94_50	583886.913	7690843.584	88.921	-61	266	13-Jun-11
			MCD004	DD	174.8	MGA94_50	583878.527	7690884.593	91.895	-65	268	22-Jun-11
			MCD005	DD	162.5	MGA94_50	583720	7690824	75	-61	25	27-Jun-11
			MCD006	DD	192.2	MGA94_50	583717.74	7690823.9	76.6	-55	54	01-Jul-11
			MCD007	DD	158.6	MGA94_50	583716.49	7690823.03	76.5	-73	10	06-Jul-11
			MCD008	DD	156.2	MGA94_50	583890.515	7690817.325	86.061	-62.5	268	20-Dec-11

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Criteria	JORC Code explanation		Commentary	Commentary	Commentary
			MCR001	RC	98	MGA94_50	583883.407	7690840.398	88.592	-85	285	2/05/2010
			MCR002	RC	65	MGA94_50	583896.025	7690789.965	84.183	-77.41	275	3/05/2010
			MCR003	RC	100	MGA94_50	583870.6	7690758.8	83.5	-58	268	3/05/2010
			MCR004	RC	92	MGA94_50	583884.562	7690799.526	84.662	-58.64	269.6	4/05/2010
			MCR005	RC	119	MGA94_50	583866.933	7690874.133	92.565	-65.51	269	4/05/2010
			MCR006	RC	113	MGA94_50	583889.746	7690818.474	86.299	-58.31	268	6/05/2010
			MCR007	RC	120	MGA94_50	583873.507	7690851.393	90.421	-62.01	269	18/05/2010
			MCR008	RC	47	MGA94_50	583910.566	7690779.396	83.932	-56.5	94	12/07/2010
			MCR009	RC	65	MGA94_50	583905.707	7690799.118	84.611	-57.5	92	13/07/2010
			MCR010	RC	83	MGA94_50	583899.026	7690818.986	86.244	-63	91	13/07/2010
			MCR011	RC	128	MGA94_50	583890.252	7690857.867	90.638	-68.5	89	14/07/2010
			MCR012	RC	131	MGA94_50	583875.506	7690901.505	92.209	-64.5	264	15/07/2010
			MCR013	RC	134	MGA94_50	583891.304	7690827.653	87.246	-74.5	266	16/07/2010
			MCR014	RC	143	MGA94_50	583875.598	7690905.18	92.248	-53	259	17/07/2010
			MCR015	RC	98	MGA94_50	583874.261	7690903.48	92.181	-90	0	18/07/2010
			MCR016	RC	137	MGA94_50	583475	7691150.4	64.5	-78	358	4/10/2010
			MCR017	RC	131	MGA94_50	583475	7691098.6	67.4	-86.5	358	5/10/2010
			MCR018	RC	212	MGA94_50	583440.4	7691229.6	62.8	-83	358	6/10/2010
			MCR019	RC	161	MGA94_50	583375.7	7691143.2	71.7	-81.5	358	7/10/2010
			MCR020	RC	143	MGA94_50	583541	7691074.6	71.6	-90	358	8/10/2010
			MCR021	RC	174	MGA94_50	583883.7	7690948.4	91.7	-55	268	11/10/2010
			MCR022	RC	119	MGA94_50	583827.198	7691099.619	79.743	-90	358	12/10/2010
			MCR023	RC	130	MGA94_50	583870.9	7691059.2	86.2	-65	88	13/10/2010
			MCR024	RC	106	MGA94_50	583826.696	7691079.879	81.879	-60	268	13/10/2010
			MCR025	RC	101	MGA94_50	583827.76	7691077.36	82.222	-90	358	14/10/2010
			MCR026	RC	142	MGA94_50	583825.178	7691064.238	83.844	-60	268	15/10/2010
			MCR027	RC	128	MGA94_50	583790.902	7691159.667	74.961	-53	269	16/03/2011
			MCR028	RC	90	MGA94_50	583822.614	7691161.136	75.821	-90	0	18/03/2011
			MCR029	RC	105	MGA94_50	583808.699	7691140.216	76.521	-55.5	268	18/03/2011
			MCR030	RC	87	MGA94_50	583833.62	7691141.481	77.056	-90	0	19/03/2011
			MCR031	RC	132	MGA94_50	583820.546	7691120.394	78.077	-54.5	267	20/03/2011
			MCR032	RC	150	MGA94_50	583826.426	7691097.283	79.963	-59	266	21/03/2011
			MCR033	RC	105	MGA94_50	583836.589	7691060.597	83.784	-90	0	27/03/2011
			MCR034	RC	149	MGA94_50	583882.8	7691020.7	84.9	-55	268	28/03/2011
			MCR035	RC	41	MGA94_50	583915.264	7690760.475	83.442	-75	88	29/03/2011

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Criteria	JORC Code explanation		Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary	Commentary
			MCR036	RC	131	MGA94_50	583826.005	7691104.65	79.359	-55	268	29/03/2011
			MCR037	RC	147	MGA94_50	583799.709	7691180.885	74.017	-90	0	30/03/2011
Data aggregation methods	46. In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. 47. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. 48. The assumptions used for any reporting of metal equivalent values should be clearly stated.		Ground IP Surveying Anomalies reported in this announcement have been determined on the basis of partially processed field data. Historical Drilling All reported assays have been length weighted. No top cut has been applied. For reporting exploration drill results in this announcement a 1% Copper or 2% lower cut off for Zinc was used and up to 7metres of internal dilution, which identical to the parameters used in the earlier announcement. No metal equivalent vales are reported.
Relationship between mineralisation widths and intercept lengths	49. These relationships are particularly important in the reporting of Exploration Results. 50. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. 51. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).		Previous reports highlight down hole intercept and true widths.
Diagrams	52. Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.		See plan and cross section attached to the report
Balanced reporting	53. Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.		All representative results have been reported or publically released.
Other substantive exploration data	54. Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.		The Mons Cupri Deposit has had a significant body of work completed on it, including geophysical studies, metallurgical test work geotechnical and ground water studies. The current IP survey was planned after recently completing petrophysical test work on drill core indicating that modern IP techniques would be successful in delineating stringer mineralisation. The last IP survey over the deposit was completed in 1968 and was only capable of reading to approximately 40 m. The current survey appears to be reading to a depth of 250 -300m.

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Criteria	JORC Code explanation	Commentary
Further work	55. The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). 56. Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive	The IP results reported are preliminary. Once the survey is completed the data has to be fully processed and pseudo 3D modelling undertaken. This work will further refine the location and depth of the preliminary anomalies allowing for moreprecise interpretation and drill targeting.

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