ABOUT US

 

Malachite Resources NL is a Sydney-based, Australian resources company which is currently making the transition from successful explorer to emerging miner. The company’s projects are located in the eastern states of Australia, where gold, silver and base metals are targeted.

GOLD – because it is real wealth;

SILVER - because it is both real wealth and an essential industrial metal;

BASE METALS – because they are the fundamental building blocks of our standard of living; and

EASTERN AUSTRALIA – because it is well endowed with all of these metals.

Malachite is listed on the Australian Stock Exchange (Code: MAR) and also trades in Frankfurt (Code: MUW.F) and Berlin (Code: MUW.BE). There are approximately 125 million Malachite shares on issue.
Key projects in the company’s portfolio are:

CONRAD SILVER

  • This is the company’s flagship project where recent drilling has defining an initial mineral resource that contains 10.4 million silver equivalent ounces.
  • New drilling is expected to enlarge that resource substantially by mid 2008.
  • The Conrad project is held 100% by Malachite and is located 20km south of Inverell in northern NSW, where it is well served by existing infrastructure.
  • Mineralisation at Conrad occurs principally in high grade, silver-rich polymetallic base metal lodes.
  • Silver generally represents about 30% of total metal value in Conrad ore; the balance comprises copper, lead, zinc, tin and the rare metal, indium.
  • The Conrad lodes typically consist of a central very high grade core zone with an envelope of lower grade mineralisation on each side.
  • Potential mining widths are likely to be around 2-3m, but up to 6m in places.
  • Silver values within the high grade core zones of the lodes peak at over 2,000g/t Ag and silver equivalent grades are as high as 5,000g/t Ag.
  • Low grade, bulk tonnage style silver mineralisation hosted by greisen has also been intersected at Conrad, over widths averaging 30m.
  • Silver in the greisen zone is all or largely native silver.
  • The greisen zone may be important for decline access and early mine life production, especially if the native silver can be recovered by gravity processing.
  • Drilling and resource delineation will continue in 2008.
  • Metallurgical, mining and conceptual economic studies are underway.

VOLGA COPPER

  • Malachite has interests in two exciting copper properties (Mt Lidster and Volga) located 60km east and northeast of Mt Isa in northwest Queensland.
  • The company has an option to purchase 100% of Mt Lidster and is farming-in to earn a 50% interest at Volga.
  • At Mt Lidster Malachite’s drilling has intersected high grade copper mineralisation, such as 6m @ 4.2% Cu and 18m @ 2.4% Cu.
  • Mt Lidster has potential to advance rapidly to a small scale, high grade copper mine, with ore being toll milled or sold to a larger copper producer nearby.
  • The Volga property is located about 35km north of Mt Lidster and is larger in scope, with numerous copper prospects.
  • Drilling by the current owners at Volga intersected highly promising copper mineralisation, such as 13.8m @ 2.9% Cu, including 2.5m @11.9% Cu and 1.9g/t Au.
  • Malachite plans to undertake new drilling at both Volga and Mt Lidster in 2008.

TOOLOOM GOLD

  • Tooloom is located in northeast New South Wales and is held 100% by Malachite.
  • Gold mineralisation at Tooloom is analogous to the intrusion-related gold deposits of the Tintina Belt in Alaska and the Yukon.
  • Several major targets of this type have been identified at Tooloom, including Phoenix, which is a billion tonne low grade gold-bearing sulphide system.
  • Higher grade zones occur within Phoenix and more drilling will be required to delineate them going forward.
  • Numerous smaller prospects are present elsewhere at Tooloom and will be tested by drilling in 2008.

ELSMORE TIN

  • Elsmore is located in northern New South Wales, 16km east of Inverell and the tenement is held 100% by Malachite.
  • The company has discovered hard rock tin mineralisation at Elsmore, with important associated tungsten, silver and molybdenum.
  • Grades are locally very high (up to 7% Sn and 4% WO3) but metal distribution is uneven due to clustering of mineralisation into coarse grained aggregates, creating essentially a nugget effect.
  • Elsewhere within the Elsmore tenement Malachite is evaluating a paleo-alluvial tin deposit that may be amenable to early development and the production of tin by gravity means.

Malachite has a number of key corporate and institutional shareholders, including Straits Resources Limited and Macmin Silver Limited. Straits is the owner of the Hillgrove Gold-Antimony Mine near Armidale in the New England Region of northern New South Wales and Macmin owns and operates the Twin Hills Silver Mine just over the border at Texas in southern Queensland.

More detailed corporate information about Malachite can be found at our INVESTOR CENTRE.