phillips river a $2 billion plus deposit

The Trilogy test work has confirmed that saleable concentrates can be produced from the transitional sulphide ore.

This work was the last step required to move towards the feasibility study stage.

TTR can now release a Scoping Study which will show:

An in ground Resource valued on todays metal prices of approximately A$2.175 Billion.

Low end cost mining and processing of gold and copper with some bonus silver lead and zinc.

A ten year plus mining plan with scope for further extensions at Kundip to move to undergroung mining as well as extensions to the trilogy Deposit.

Surrounding area highly prospective which ultimately could see a 20 year mining region.

TTRs management have been "quietly quoting" the above for the best part of 5 years such was their confidence in what they were sitting on. Unlocking the value at Trilogy was the last step in the proof that was required to confirm this.

TTR have now done the hard yards required to now produce a far more robust Bankable Feasibility Study. The initial BFS (Nov 2005) although positive did not have enough certainty for the prefered funding options. It has now been delivered.

For Reflection this is the TTR ASX Release from 24/11/2005

"PHILLIPS RIVER GOLD PROJECT FEASIBILITY OUTCOME
The Directors of Tectonic Resources NL are pleased to announce the completion of the feasibility study on the Phillips River Gold Project. The culmination of this work has led to a decision to proceed with the project.
The feasibility study is based around a mine plan involving the excavation of some 8 open pits, comprising 7 from the Kundip area and one at the Trilogy area, followed thereafter by three underground mines at Kundip.
The project is to commence with an initial anticipated life span of 5 years. This comprises an 8 month construction period for pre stripping of open pits, infrastructure establishment and mill construction followed by an initial 4.25 year milling period. The Directors believe this remains a conservative estimate in light of all Kundip orebodies remaining open at depth limited only by drilling at this point.

Using assumed commodity prices of $600/ounce AUD for gold
$10/ounce AUD for silver and $4,666/t AUD for copper"