olympic dam cu-u-au-ag deposit in south australia,

Any more news?

Buyers are coming back, looking good

Tasman Resources NL's ("Tasman") drillhole MS 1 at its 100% owned previously undrilled Marathon South prospect, located approximately 24 km north east of WMC's major Olympic Dam Cu-U-Au-Ag deposit in South Australia, has intersected a thick zone (at least 150m) of hematite- altered breccias very similar in style to those in the Olympic Dam deposit, within the basement,
from 558m to 710m depth (the current depth of the hole) These are the types of rocks which were targeted (refer our ASX announcement of 20 July 2004) by MS 1 which is being drilled in an area previously unexplored prior to Tasman's recent involvement.

The breccias consist of a variety of matrix and clast support styles, with clasts of metasedimentary
and igneous rocks within a hematite-dominated matrix. Some breccias contain a variety of clast
types, with evidence of more complex rebrecciation. Variable amounts of sericite and silica (quartz)
alteration also occur throughout.

The thickness and areal extent of the breccias is not known, but the gravity anomaly being targeted
is a complex feature, about 4km by 6km in size, and MS 1 has intersected the extreme southwest
margin of it.

Weak sulphide mineralisation, consisting of pyrite and lesser chalcopyrite (overall estimated at less
than one percent sulphides) was intersected between 558m and 587m, and 689m and 710m depth
and is currently continuing.

At this stage the grade and thickness of the mineralisation is not known, nor is the overall economic
significance of this result. Tasman believes however it may have located a new large iron-oxide
system, potentially mineralised and a relatively short distance from Olympic Dam.