ASX / MEDIA RELEASE 2 NOVEMBER 2005CONSMIN’S GROUNDBREAKING...

ASX / MEDIA RELEASE 2 NOVEMBER 2005
CONSMIN’S GROUNDBREAKING EXPLORATION
DELIVERS SUCCESS AT WOODIE WOODIE
Consolidated Minerals Limited (ASX: CSM, AIM: CNM, FSE: CMN) today announced that its use of groundbreaking
exploration techniques at the Woodie Woodie manganese project in Western Australia had delivered further
success, with a conceptual deep drill hole intersecting 40 metres of high-grade manganese at the Canyon Prospect,
300m east of the Mike Mine.
The new discovery will become a priority focus for Consolidated’s ongoing exploration at Woodie Woodie, with the
Canyon Prospect having strong geological similarities to the recently announced 4.22 million tonne Greensnake
deposit. Greensnake – which was also a ‘blind’ discovery – has been one of the key drivers of the growth in the
manganese resources this year to the current level of 15.2 million tonnes (at 30 September 2005).
A recently completed reverse circulation drill hole (MIRC22) targeting the centre of a large induced polarisation (IP)
anomaly generated by Consolidated at the Canyon Prospect intersected massive manganese mineralisation of 34m @
44.8% manganese from 163m and 6m @ 54.8% manganese from 149m, before being abandoned in altered host
rocks at 204m.
A second hole, located 150m to the south west of MIRC22, intersected high-tenor hematite alteration, which is
usually associated at Woodie Woodie with the margins of manganese mineralisation. Further intensive drilling based
on new geophysical surveys will be carried over the next few months to assess the geometry and extent of the
mineralised zone at the Canyon prospect.
Consolidated’s Chief Geologist, Eoin Rothery, said that while there was no guarantee economic mineralisation would
be delineated at Canyon, the new discovery was regarded as very significant with strong similarities to the
Greensnake discovery.
“Both discoveries were the result of a similar exploration approach utilising so-called dipole-dipole induced
polarisation (or DDIP) surveying to search for deeper ‘chargeability’ anomalies despite the lack of any
electromagnetic responses in the area,” Rothery said.
“Greensnake was also discovered by drilling a DDIP anomaly and both prospects are located between two known old
pits or occurrences, although in the case of Canyon the separation and therefore the resource potential is larger at
800m compared with 350 metres in the case of Greensnake,” he added.
Selection of the Canyon Prospect was initiated by researchers at the Curtin University Department of Exploration
Geophysics based on a conceptual model which contemplates that known shallow manganese alteration in the area
represents the near-surface expression of a larger mineralised system at depth.
The more recent used of DDIP surveying comprising seven transect lines provided the breakthrough, detecting a
large chargeability response on three lines over an area greater than 400 metres long and 100 metres wide with the
top of the target predicted to occur at 150 metres below surface.
Consolidated’s Managing Director, Michael Kiernan, said the recent exploration success highlighted the
effectiveness of its exploration approach at Woodie Woodie with state-of-the-art exploration techniques used to
unlock the broader potential of the field through the discovery of ‘blind’ deposits.
“The objective of our ongoing $8 million per annum exploration effort at Woodie Woodie is to build further on the
current 15 year mine life by expanding our resource/reserve inventory,” Kiernan said. “Discoveries such as
Greensnake and Canyon have the potential to make a quantum impact on our resource inventory. Similar techniques
will continue to be applied in the systematic exploration of the Woodie Woodie mine corridor.”
So far as it relates to ore and mineralisation, this report is based on information compiled by Mr Eoin Rothery who is a member of the Australian Institute of
Geoscientists and who is a full time employee of the Company. Mr Rothery has sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. This report accurately reflects the information compiled by Mr Rothery. Mr
Rothery has consented to the inclusion of this information in the form and context in which it appears in this report.
ENDS
Released by: On behalf of:
Jan Hope / Nicholas Read Michael Kiernan, Managing Director
Jan Hope & Partners Consolidated Minerals Limited
Telephone: (+61-8) 9388 1474 Telephone: (+61-8) 9321-3633
www.consminerals.com.au
BACKGROUND INFORMATION
Consolidated Minerals is a diversified, ASX S&P 200 Australian-based resource group (Code: CSM) with a strong
growth focus as a supplier of key raw materials to the world’s steel and stainless steel industries. The Company is
also listed on the Alternative Investment Market (AIM) of the London Stock Exchange (Code: CNM) and the
Frankfurt Stock Exchange (FSE) (Code: CMN).
Consolidated has a sound profit base founded on its successful West Australian manganese operations at the Woodie
Woodie mine in the State’s Pilbara region. Woodie Woodie has a secure position as a reliable supplier of 1 million
tonnes per annum of high-grade, low-phosphorous manganese ore to markets in Asia and Europe, representing a
sustainable 10% share of the world market.
The Coobina Chromite Project, also located in the Pilbara region, has increased production to capacity levels of
250,000 tonnes per annum of 42% chromite ore, representing a 2.5% share of the world market.
Consolidated’s nickel operations are located in the world-class Kambalda nickel district of Western Australia and
comprise the 5,000tpa Beta Hunt nickel mine, the nearby East Alpha development project and a portfolio of advanced
exploration and development prospects in one of the world’s premier nickel regions.
Consolidated has announced an accelerated development program at its Kambalda operations designed to bring the
East Alpha project into production during 2006, consolidating a 9-10,000tpa nickel production complex through
combined production from Beta Hunt and East Alpha, while continuing to pursue other exploration and growth
opportunities.
The Company has a strong track record in the successful and cost-effective development and operation of mining
projects. Consolidated is also pursuing a number of growth opportunities including joint ventures and strategic
investments in the carbon steel materials sector. These include a joint venture with Fortescue Metal Group Limited in
iron ore and other strategic investments.