EXECELLENT RESULTS FROM RESERVE DRILLINGThe Company is pleased...

EXECELLENT RESULTS FROM RESERVE DRILLING

The Company is pleased to advise the receipt of assay results from drill core submitted to the laboratory before the end of 2013, from the initial drilling in the Stage 1 (Antas North) reserve drilling programme. As anticipated, results reflect the tenor of mineralisation observed in the core.
HIGHLIGHTS

Ø? Holes AAND-67, 68, 70 and 71 all intersected the orebody1 from surface where they were collared on the outcrop, proving the orebody comes to surface whilst showing very encouraging widths for partial intersections

Ø? Sulphide Ore results from the start of the Antas North Reserve in-fill programme include:
• 31.00m2 at 2.72% Copper, 0.65g/t Gold from 25.00m2 AAND-067
Incl. 18.00m2 at 3.95% Copper, 1.07g/t Gold, from 37.00m2
• 54.00m2 at 3.03% Copper, 0.33g/t Gold from 25.00m2 AAND-068 Incl. 4.00m2 at 9.31% Copper, 0.67g/t Gold, from 47.00m2
• 27.00m2 at 1.89% Copper, 0.78g/t Gold, from 54.00m2 AAND-070 Incl. 15.00m2 at 3.03% Copper, 0.48g/t Gold, from 59.00m2
• 22.30m2 at 3.70% Copper, 0.23g/t Gold from 20.70m2 AAND-071 Incl. 2.00m2 at 15.40% Copper, 0.19g/t Gold, from 27.00m2
Ø? These important up-dip holes not only prove onclusively that the orebody continues to surface (where it outcrops in oxide), but are indicative of the type of material/grade anticipated in early mine feed Ø? Three diamond rigs continue to progress the 25m x 25m resource / reserve drill out of Antas North
Ø? The geotechnical drill programme is now approximately 80% complete. The proposed tailings dam wall site has revealed a large Gabbro Dyke beneath this location, presenting an ideal “competent basal rock” for the foundation of the dam
Ø? First pass condemnation drilling (using the Company’s Power Auger rigs) over areas nominated for construction is complete. Results are pending and will dictate what further work is required
Ø? The Open Pit Geotechnical drill programme and final metallurgical drill programme will follow the completion of the reserve drilling programme