December 31, 2005 A program of RAB/AC drilling was carried out to test the potential for nickel sulphide
mineralization. The drilling targeted high-order magnetic anomalies that may represent komatiite channels. The program comprised three drill traverses across the magnetic anomalies to determine lithology and to test the ultramafic contacts. A total of 486 composite samples were submitted for multi-element assay. Peak 5m
composite Ni assay was 4,447ppm with 84ppm Cu. The results are typical of high MgO ultramafic rocks which are the preferred hosts for nickel sulphide mineralisation. Further trace element analytical work is planned to give more information on the potential of the rocks to contain nickel sulphides.
June 30, 2005 An assessment of the potential for nickel sulphides has involved interpretation of the detailed magnetics for the Property and this has identified two prominent thickenings in the ultramafic stratigraphy that could be high MgO ultramafics and therefore favourable sites for nickel sulphides. A program of reconnaissance aircore drilling has been designed to test these targets and grid lines have been cleared for drill access. Drilling will be carried out in November.