Slide 1: Exploration Update October 2006
ACN 106 866 442 MDX Exploration Update October 2006
Slide 2: Summary
SUMMARY Further positive uranium in water results were obtained within the Avon JV area. Sampling will be stepped up through October- November. The Scoping Study on Paradise Bore resource at Bulga Downs is nearing completion and a Deferred Mining Agreement is being negotiated with the Registered NTC
Slide 3: Uranium Projects
Uranium Projects Lake Noondie Project and Avon Joint Venture Lake Noondie, WA – 20km long radiometric target – Surface values to 60ppm U – U in water to 200ppb U – 300km2 tenements and applications Avon Joint Venture, WA – Includes 150km of U anomalous drainage – 13 tenement applications over 2,300
Slide 4: Avon JV
Elachbutting Bonnie AVON JV Cadoux Rock Hill Mukinbudin Mindax Energy 50% Warralakin Nalkain Lake Campion Westonia Kellerberrin Joint Venture with Quasar Resources Pty Limited S Kellerberrin Based on CRC LEME Uranium in Water Brookton Research Project 100,000 km2 area of influence Dumbleyung
Slide 5: Avon JV
AVON JV Mindax Energy 50% ACTIVITIES • two new EL applications • thirty-three new water samples • commissioned SiroSOM analysis New value 774ppb U OUTCOMES •10 of 33 new samples (30%) returned > 100ppb U • processing of large multi-element regional geochemical data set (~6000 New value 194ppb U samp
Slide 6: Lake Noondie
Lake NOONDIE Mindax 100% ACTIVITIES • Drilled 38 of 50 planned holes • Tested 3km of 20km channel OUTCOMES • No mineralisation observed at depth, limited to surface algal layer • Unable to access surface anomaly peaks • Water sampling to gauge wider prospectivity of channel
Slide 7: Gold Projects
GOLD Projects Meekatharra, Sandstone Sandstone, WA – Bulga Downs, Maynard Hills Projects – 36Koz resource (JORC compliant) at Paradise Bore – 150km of Edale-Illara gold anomalous structural corridor – Adjacent to Troy’s Lord’s gold mines Meekatharra North, WA – 200km2 north of Meekatharra Goldfield
Slide 8: Sandstone: Maynard Hills & Maynard North
SANDSTONE Maynard Hills & Maynard North Mindax 100% • 100km of prospective Edale-Illara Shears • sub-economic gold at Creasy1 and Ten Mile • statutory reduction of E57/556 • focus on structural positions under cover on Edale structure
Slide 9: Meekatharra North
Meekatharra North Mindax 100% • Drilling at Lute, Banjo Well indicates Au-As anomalism and carbonate-fuchsite alteration associated with shears • Drilling will be extended through Emerald and Marion during November
Slide 10: Sandstone: Bulga Downs
SANDSTONE Bulga Downs Mindax 100% • Scoping study on Paradise Bore resource nearing completion • Deferred mining agreement under negotiation • Iron ore potential being studied
Slide 11: Base Metal Projects
BASE METAL Projects Mt Alexander Nickel, WA – Cumulate ultramafic mapped – Adjacent nickel sulphides to west – EM geophysical anomalies – Drill testing intersected barren sulphides Panhandle Copper-Gold, WA – Copper and gold geochemistry – Irreconcilable drill intercepts (Au to 2.5g/t, Cu to 0.12%)
Slide 12: Panhandle
Panhandle Mindax 100% ACTIVITY • re-analysis of drilling, geochemical and geophysical data • ground based gravity survey OUTCOMES • projected interpretation November • drill targets December