more details of thor mining uranium deal in genera, page-22

history at gullewa Just a bit of an explaination for those not familiar with BTV and their Gullewa project (which incorporates several deposits incl Deflector)..

Gold mineralisation was discovered at Gullewa in the late 1800’s with the first recorded production in 1897.
Subsequent mining between 1897 and 1942 produced approximately 36,000oz. Modern production
recommenced in 1994 through the current 300ktpa gold treatment plant and continued through to 1997. The
most recent production between 2002 and 2003 was halted when the Deflector copper-gold deposit became the only feed source. Due to the mill configuration, this ore could not be treated economically through the plant.
Gold production from the modern era totalled 33,000oz.

Mining infrastructure existing at Gullewa Operations include a carbon-in-leach (“CIL”) treatment plant, a licensed tailings disposal facility, a 50-person accommodation camp, workshops, site offices, borefields and haulage roads. The CIL plant was commissioned in 1994 and operated until 1997 when it was closed. It was recommissioned in March 2002 but shut down again in February 2003 and has been on an active care-and maintenance programme since.

A number of defined gold and copper/gold resources are contained at Gullewa Operations and are in close proximity to the treatment plant.

Testwork has since shown that the correct circuit configuration is not a conventional CIL circuit but rather a gravity circuit to recover free gold followed by an oxide flotation to recover the copper.

A first draft Scoping Study prepared by Metplant Engineering Services now proposes:

- Refurbishment of existing crushing and milling circuit
- Installation of copper flotation circuit
- Upgrade of selected site infrastructure
- Increase camp by 48 rooms and associated infrastructure services
- Capital costs have been estimated at $13.8M.