Continued: PROJECTS:4. KAPULO-CONGO-COPPER 13 April 2006: To...

Continued: PROJECTS:

4. KAPULO-CONGO-COPPER
13 April 2006: To farm into Anvils Kapulo Copper Tenements in the Congo
http://sa.iguana2.com/cache/e6adb0e343d76d31b2a0e7052f297f8b/ASX-MWE-319712.pdf
The deal enables Mawson West to earn a 65% interest in the project for a total expenditure of US$4M over four years. The earn-in will be staged, with Mawson West able to gain control of the project, with a 51% interest, after spending US$2.7M or upon definition of a JORC compliant indicated resource of 50,000t of copper (at 4%), whichever comes first. The terms of the agreement also provide for an equity interest to be held in trust for the local community, in line with a similar arrangement at Anvil’s Dikulushi Mine.

Mawson West will operate under a strategic agreement with Anvil, whereby Mawson West will work as a contract company to Anvil until it has gained a 51% interest. This will allow Mawson West to operate under the terms of Anvil’s Dikulushi Mining Convention, and to benefit from the years of experience built up by Anvil in the DRC.

9 May 2006: Technical Update - Kapulo Copper Project - DRC/Zambia
http://sa.iguana2.com/cache/b7a668dd9eb35ea8f57c2357162e10e3/ASX-MWE-322380.pdf

27 June: High Grade Copper Mineralisation at Kapulo Project
http://sa.iguana2.com/cache/cb935750272cef9b58a55fd2c8466c91/ASX-MWE-326652.pdf
• Up to 30% copper recorded in rock chips
• High-grade results occurring at all of the prospects sampled to-date
• Scope for increasing the number of known copper mineralised systems
• Resource drilling is expected to commence within the next month

7 July: Due Diligence on Kapulo Copper Project in DRC complete
http://sa.iguana2.com/cache/5c18d85f3e2f082d39a3a29e69cda554/ASX-MWE-327744.pdf
Very promising initial results, indicated:
• High (near 90%) recovery from oxide ore.
• The resultant concentrate may be amenable to direct electrowinning or copper sulphide precipitation, without the need for a costly Solvent Extraction plant and process.
• The open pit ore, heap/bulk leach possibility, plus the direct electrowinning/copper sulphide precipitation possibility will result in very low capex requirements for development.
These metallurgical results combined with the systematic channel sampling at surface of a number of deposits, including 8m @ 11% Cu, 9m @ 8.6% Cu, 9m @ 7.6% Cu (Katanga Deposit) 5m@ 10.6% Cu, and 10m @ 3.8% Cu (Safari South Deposit), give evidence of good open pit mining widths of copper ore, and the possibility of very low capex start-up.

10 July 2006: Audio Broadcast:
http://sa.iguana2.com/cache/da583bc716f65654516f69ea3d14445a/ASX-MWE-327854.pdf

Gerry
Readers, please do your own research