ann. out

Suite 8, 24 Leura Street, Nedlands, WA 6009, Australia • Tel: +61 8 9386 6767 • Fax: +61 8 9386 6732 • www.redport.com
ASX RELEASE
Company Announcements Office
Australian Stock Exchange Limited
By: ASX Online
DRILLING TO COMMENCE AT HERAKLEION PROSPECT IN SOUTH AUSTRALIA:
“OLYMPIC DAM” STYLE MINERALISATION TO BE INITIAL FOCUS
Redport Limited (“Redport”) (ASX: RPT) is pleased to advise that the Manager of the Edwards
Creek Joint Venture (Reedy Lagoon Corporation Limited) has confirmed diamond drilling will
commence at the Herakleion Prospect, in South Australia, within the coming week.
The Herakleion Prospect is one of two prominent gravity anomalies located within the 400km2
Edward Creek project and lies in the South Australian copper province that hosts both the
Olympic Dam and Prominent Hill deposits (refer Fig 1).
The diamond drilling program will explore for an Olympic Dam style copper, gold and uranium
deposit at the project.
Initially a diamond drill hole 850m in depth, is planned and the rig has the capacity to deepen this to
1,200m.
Upon completion of the first diamond drill hole, the JV partners intend to drill a second deep diamond
drill hole at the project.
The drill rig is expected to be on-site for at least 20 days from 21 August 2006.
Redport holds 18% of the Edward Creek Joint Venture.
Details of the project were announced on 29 March 2006 and are here reproduced.
Planned Drilling Programme
A review and interpretation of all past uranium exploration data identifies the Edward Creek
Project as prospective for uranium mineralisation. Explorers in the 1970s identified uranium at
the historic Coominaree and Last Chance copper mines that are both within the Project area. At
the Coominaree Copper Mine, located a couple of kilometres to the south of Herakleion,
mineralisation is hosted in quartz-goethite-malachite veins, and has produced results of up to
7.9% copper and associated uranium values of 200ppm and gold up to 0.29 g/t.
The geophysical interpretation identified eight airborne radiometric uranium anomalies that
warrant follow-up. Ground follow-up consisting of geological mapping and local differential
spectrometer radiometric surveys is proposed to coincide with the forthcoming drilling activity.
The Joint Venture plans to commence diamond drilling at Target Area 1 (TA-1), located 3 km to
the south of Target Area 2 (TA-2). This programme will consist of an 850m deep diamond drill
hole that is designed to penetrate the overlying cover and test the basement for copper-golduranium
mineralisation. A drill intersection of copper bearing iron-rich breccias at any of the