ELSMORE TIN PROJECT

SHEEP STATION HILL PROSPECT

Sheep Station Hill is situated within the eastern part of the Elsmore greisen system but is not part of the Elsmore mine property. At Sheep Station Hill the greisen veins are typically 0.5 to 2.5m wide, with near vertical dips, and individual greisen veins can be traced for several hundred metres along strike. Numerous such veins traverse the hill, striking generally NNE, and the cumulative strike length of mineralised greisen veins is over 3km. A number of cross-cutting veins and areas of massive greisen also occur. Some of the greisen veins contain spectacular, high grade aggregates that have been the target of mineral specimen collectors for years.

Sampling across greisen vein outcrops by Malachite has produced some very encouraging results, with tin values commonly around 0.1 to 0.6% Sn, but up to 2.3% Sn. Tungsten, copper, molybdenum and silver values are also highly anomalous, with up to 0.69% WO3, 0.33% Cu, 0.086% Mo and 32.5 g/t Ag in samples across vein widths in outcrop. Coarse grained wolframite and molybdenite are also locally very prominent in outcrop.

Drilling at Sheep Station Hill has produced several high grade tin intercepts that compare favourably with the highest tin and tungsten grades at surface. Copper is also present in the greisen veins at depth, with assays up to 0.57% Cu, while molybdenum values are generally below 100ppm Mo, but are occasionally much higher, up to 0.14% Mo. A short programme of core drilling followed earlier RC drilling at Sheep Station Hill for comparative purposes. Generally there was reasonable consistency between RC and core results but the nuggety nature of the tin and tungsten was even more apparent in core, with very coarse grained cassiterite and wolframite observed in places. One off the core holes intersected a spectacular 0.9m @ 7.2% Sn and 4.0% WO3, represented by very coarse grained cassiterite and wolframite crystals and aggregates of crystals up to 5cm across. These results emphasise the “nuggety” nature of tin and tungsten mineralisation at this prospect.