Just doing some research, can someone one check if the below is correct about KDR..
Northern Territory AUGUST 2010 Mineral Investment Opportunities
Project: Home of Bullion Mine
COMMODITY : Copper (with Gold Silver Lead Zinc) PROJECT DETAILS Project Name: Home Of Bullion Mine Location: Barrow Creek NT Australia, approx 280 kms north of Alice Springs and 1220 kms south of Darwin. Project Tenements: 100% of EL 23186 Tenement EL 23186
Area Approx 400 sq. km Circa 2002
Grant
Expiry Rent paid to February 2010
HISTORY OF PROJECT AREA
Historic production of 2500 t @ 22.5% Cu.
Comprehensive 3D modelling of the geology, mineralisation and sample/assay database of Home of Bullion Deposits. Past drilling by Goldstake has resulted in substantial estimated resource being defined. There are four mineral lodes in two groups. The Main Lode has been assessed as containing an initial estimated resource [ non JORC ] 308,000 tons at 13% Cu for 40,000 tons of Copper metal. This requires further drilling to bring to JORC status. Recent reassessment indicates up to 58,000 t of contained copper metal.
Three further lodes are located close to Main Lode. These have similar geological characteristics as the Main Lode. Potential for all Lodes to link up underground to form a major deposit of high quality Copper with bonus, Lead, Zinc, Silver and Gold recovery. It is estimated that the Lead, Zinc, Silver and Gold could cover copper production costs.
CURRENT PROJECT STATUS Owners are currently seeking investment in the project to fund project development. Presentations have commenced to potential investors to raise at least $15 million to conduct further drilling to increase estimated reserves from 40,000 tonnes of Copper metal to 300,000 tonnes and to begin production of high grade copper within 12 months or as soon as mining permits can be obtained. Production target is 30,000 tons of copper plus gold, silver, lead and zinc per year
PROPOSED FUTURE ACTIVITIES Phase 1: To test secondary zone within the Main Lode, Eastern and Southern Lodes - 10 drill holes totaling 765m Phase 2: To test the primary zone within the Main Lode - 8 drill holes totaling 1052m Phase 3: Major drill program (on all four lodes) to expand resource to 300,000 t of contained Cu metal. At the same time rehabilitating the 200 foot “Main Shaft” to access and mine ore at 15% Cu. Mining could commence within 12 months subject to permits
Project: Prospect D COMMODITY: Nickel Copper Gold PROJECT DETAILS Project Name: Prospect “D”, Location: Barrow Creek, NT, Project Tenements: 50% of EL 23186
HISTORY OF PROJECT AREA During the nickel boom in 1972/3, Kewanee Oil conducted extensive drilling establishing drill indicated reserves of over 3 million tons of nickel/copper ore over a length of 2km, a width of 9metres . Established drill indicated reserve of 3Mt being 1.63Mt oxide and 1.53Mt of sulphide. Tons Cu Ni Width Oxide - 1,633,600 0.512% 0.151% 9.14m Sulphide 1,530,200 0.621% 0.24% 8.53m (Source: Kewanee Oil Australia Ltd)
1. DDH1BC with 0.91m @ 4.65% Ni and 1.4% Cu. Delineated strike length 2km. 2. DDH1BC with 2.4m @1.95% Ni and 1.23% Cu from 143.7 meters and 7.3m @ 0.3% Ni and 1.01% Cu from 181.66m. 3. DDH5BC with 7.6m @ 0.93%Ni and 1.46% Cu from 85.3m and 17.4m @ 0.98% Cu from 88.74m. 4. DDH7BC with 5.2m @ 0.48% Ni and 1.48% Cu from 81.08m and 7m @4.2g/t Au. (DDH7BC was the only drill hole previously assayed for gold. Owing to current gold price this may represent a significant uplift in the project value eg: 4.2g/t = 33lbs or 1.5% Cu, which until now has not been included.)
The owners obtained the Exploration license in 1999. Since then substantial drilling and geophysical surveys have been completed with the services of BHP Minerals Pty Limited and Mithril Resources Ltd.
In 2004, BHP/Mithrill conducted a $1M drill and geophysics program after exercising an option to Joint Venture with the owners of EL 23186. Following BHP taking over Western Mining Corp in June 2005, BHP did not proceed to a proposed JV development with the owners of Prospect D. In their reports on their drill program BHP/Mithril described the mineralisation as having the potential to host sulphide mineralisation of a style similar to the massive Voisey’s Bay Nickel deposit in Canada.
KDR Price at posting:
72.5¢ Sentiment: LT Buy Disclosure: Held
