6.East Location 45 (AUZ 100%)
The Location 45 tenement contains at least twenty five kilometres of prospective open contact along the Carnylia Ultramafic Belt which hosts nickel sulphide resources at Mt Martin and Goodyear, and nickel sulphide mines at Carnilya Hill and Zone 28.
1.The Goodyear Project
The company did not drill at the Goodyear Nickel Sulphide project during the reporting period, but, following the drilling of 5 diamond holes in the 2008 reporting period, a resource model was constructed and the total Inferred Mineral Resource for Goodyear is quoted at 387,000 tonnes @ 4.13% nickel for 16,000 nickel tonnes.
There could be potential for an underground mining operation at Goodyear at a higher nickel price and the project will be retained for the future.
2.The Fat Rat Prospect
The Fat Rat prospect presents as an extensive coincident nickel and copper anomaly along the southern limb of the Carnilya Anticline. Significantly, the nickel and copper anomalism also coincides with a shallow north dipping linear magnetic high.
A single RC hole through the magnetic anomaly penetrated high MgO ultramafic rocks, which are considered to be the ideal host rocks for a Kambalda style nickel sulphide deposit.
Figure 4 : East location 45 - contoured nickel and copper surface geochemical anomalism the nickel sulphide exploration potential at Fat Rat.