Projects

PERKOA - ZINC MINE

• High-grade Volcanogenic Massive Sulphide (VMS) zinc deposit in Burkina Faso;
• Probable Ore Reserves of 6.3  Mt at a mine head grade of 13.9% zinc as reported in accordance with the 2004 JORC code;
• Proposed plant throughput of 720,000 tpa to produce 170,000 dmt/annum of clean zinc concentrate with 53% grade over a 9.5 year mine life;
• Exploitation Licence covering all mining activities granted in March 2007;
• DRA Mineral projects appointed EPC manager;
• Optimise mine design to enhance mining efficiencies, reduce overall costs and expedite mine schedule to access first ore;
• Key site contractors appointed including:
  • Byrnecut Mining - Managing contractor for the construction and mining of the underground mine;
  • DRA Mineral projects - Engineering, Procurement and Construction Manager for plant and infrastructure;
  • Votarantim Metais - Concentrate off-take partners;
  • Transamine SAS - Administration and Logistics managers;

• Letters of intent signed by offtake partners, Xstrata Zinc and Boliden;

• Banlaw Africa – Construction and surface civil infrastructure;

• Bollore – Transport logistics of ore from site to Port of Tema;

• Outotec (formerly Outokumpu) – Manufacture and supply of Perkoa mill, flotation cells and thickener units;

• Sandvik – Manufacture and supply of Axera 7 drilling ‘jumbo’ used for the development of the underground mine workings;

• SHELL – Supply and management of fuel facility;

• Caterpillar – Supply of diesel generated power station;

• Caterpillar – Manufacture of underground mining equipment;

• Sandvik – Supply of crushing and grinding;

• African Explosives Limited – Supply and management of;

• National and Overseas Modular Buildings – Supply of offices, accommodation and changeroom facilities;

• Allterrain Services Group – Catering and camp management;

• SOS International – Medical, Emergency and Evacuation;

• TOYOTA – Supply of site vehicles.

Box cut construction completed in June 2007;

Advanced negotiation with potential offtake partners - Xstrata Zinc and Boliden.

mumbwa - IORN OXIDE COPPER GOLD PROJECT

• Interpretation of BHPB’s Falcon™ data with 3D inversions and the application of BHPB’s Solid Earth™ proprietary technology identified anomalous zones over the Kitumba Hills, Mutoya  and Mushingashi (previously 'the worm') prospects;
• Initial discover hole, S36-001, was drilled in February to a total depth of 697.4m, and intersected mineralisation yielding 655m at 0.46% copper, including:
  • 317m @ 0.79% Cu,
  • 18m @ 0.20g/t Au,
  • 42m @ 2.01% Cu, including
  • 4m @ 5.56% Cu.
  • Soil geochemical survey over drilled anomalies displayed elevated gold response over S36;
• In October 2009, Blackthorn Resources reported an Inferred Mineral Resource containing 345 Mt at 0.47% Cu, 0.06g/t Au, 1.38 g/t Ag and 38 ppm U when using a 0.2% Cu cut-off; (or 87Mt at 0.94% Cu, 0.05g/t Au, 1.27 g/t Ag when using a 0.5% Cu cut-off).

MOKOPANE - NICKEL/PLATINUM PROJECT

• Nickel-Platinum project located on the Northern limb of the Bushveld Complex;
• Granted new order rights over 3,000 hectares for exploration purposes;
• Appointment of Black Economic Empowerment (BEE) party;
• Prospecting licence covers 960ha which is host to 5 individual (Southwest, Central, Northeast, Northwest and Far North) mineralised zones;
• The Southwest Zone contains an Inferred Mineral Resource of 39.7 million tonnes at 0.15% nickel, 0.09% copper, 0.22 g/t platinum and 0.33g/t palladium as reported in accordance with the 2004 JORC code;
• Near surface mineralisation is amenable to low cost, large scale, open pit mining with low strip ratio;
• Significant potential to increase current mineral resource by additional drilling from all 5 prospects within the licence area;
• Considering a percussion drilling program to further define the resource status from all 5 prospects.