Mokopane

Overview

• Nickel-Platinum Group Element 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;
• Five individual mineralised zones identified of which only sufficient drilling over the Southwest Zone for mineral resource estimate;
• Southwest Anomaly contains JORC code compliant 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;
• Near surface mineralisation is amenable to low cost, large scale, open pit mining with low strip ratio;
• Significant potential to increase current 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.

Blackthorn Resources holds the prospecting rights licence that covers an area of 960 hectares over the Mokopane Project. In March 2006, the Company was granted Ministerial consent for the conversion of new order rights which provides for an additional 3,000 hectares of ground for exploration purposes. Infrastructure is excellent and the project is well located immediately south of Ivanhoe Nickel and Platinum’s Platreef Project and 20km along strike from Anglo Platinum’s Potgietersrust Platinum (PPRust) operation that produces approximately 200,000 ounces of platinum per year, with recent expansion expected to produce in excess of 430,000 ounces of platinum per year.