Unit 8, Level 1, Churchill Court331-335 Hay StreetSubiaco WA...

Unit 8, Level 1, Churchill Court
331-335 Hay Street
Subiaco WA 6008
PO Box 190
West Perth WA 6872
Tel: +61 8 9382 8799
Fax: +61 8 9382 4760
ABN 60 060 525 206
ASX Announcement 19 March 2007
Woodline Well Sulphide Nickel Project
The Company is pleased to inform shareholders that it has acquired the
Woodline Well Nickel Sulphide Project from Perilya Limited which is located
approximately 10km west of the Windarra Nickel Project. The transaction with
Perilya will compliment the company’s exploration and development strategy
for the Windarra district.
The Company has also extended a right for Perilya to examine data on the
zinc prospectivity of the Windarra Project area with a view of a possible JV
arrangement.
The Woodline Well project is located 23km west of Laverton, in the Eastern
Goldfields of Western Australia, on the western flank of the Mt Margaret
Anticline. The project comprises three prospecting licences, totalling 359ha.
The majority of the western flank of the Mt Margaret Anticline is assimilated by
granite and the Woodline Well area is considered to contain a remnant outlier
of Mt Windarra ultramafic greenstone stratigraphy on the basis of a strong
aeromagnetic anomaly associated with a footwall BIF below the Windarra
ultramafic sequence.
Significant nickel values were returned from the project area, in drilling by
previous explorers, from a disseminated pentlandite–violarite–pyrrhotite
mineral suite within a black, serpentinised olivine peridotite. Drilling
intersected 3.1m at 2.3% nickel and 6.1m at 3.0% nickel in percussion
hole PDH1 and 0.9m at 4.3% nickel in diamond hole DDH1.
Aeromagnetics suggest the presence of additional ultramafic lithologies that
have yet to receive any testing. Woodline Well was discovered as the
fortuitous result of a gossan search and near total sand cover has meant that
its geological setting is not well understood, being based on a limited area of
shallow auger drilling and magnetic interpretation. Outside of the small area
that has received the bulk of the deeper drilling, the host ultramafic has been
only lightly tested, if at all. The presence of near surface economic grades of
nickel mineralisation, some of it primary, warrants further investigation.

Unit 8, Level 1, Churchill Court
331-335 Hay Street
Subiaco WA 6008
PO Box 190
West Perth WA 6872
Tel: +61 8 9382 8799
Fax: +61 8 9382 4760
ABN 60 060 525 206
Figure 2. Woodline Well Geological Setting and tenement outline
There are no outcropping ultramafic rocks within the Woodline Well project.
The geology is interpreted from shallow collapsed costeans, old auger,
percussion and diamond core drill logs, and Perilya’s RC drilling. Two thin
northwest-trending, steeply northeast-dipping, ultramafic units are noted in the
main drill area. The southern ultramafic is a 10-20m thick dunite unit that
hosts the significant nickel drill intercepts. To the north of the dunite is a 10m
thick amphibolite unit. The ultramafic package is surrounded by a complex
mixed package of gneissic metasediments (including sulphidic BIF to the
north) and interfingered granite layers.
The only outcrop in the project area is a small hill of gabbro in the southeast.

Unit 8, Level 1, Churchill Court
331-335 Hay Street
Subiaco WA 6008
PO Box 190
West Perth WA 6872
Tel: +61 8 9382 8799
Fax: +61 8 9382 4760
ABN 60 060 525 206
Woodline Well Nickel Mineralisation
Significant nickel values were returned, in drilling by previous explorers, from
a fine-grained disseminated pentlandite–violarite–pyrrhotite mineral suite
within a black, medium to coarse-grained serpentinised olivine peridotite, with
well-preserved bladed olivine crystals. Drilling intersected 3.1m at 2.3% nickel
from 12.2m and 6.1m at 3.0% nickel (including 1.5m at 3.9% nickel) from
18.3m in percussion hole PDH1 and 0.9m at 4.3% nickel (including 0.15m at
7.2% nickel) from 59.7m in diamond hole DDH1 (Figure 3).
Figure 3. Woodline Well Drill Long Section, looking Northeast.
A fixed loop EM survey, by Perilya, showed a weak anomaly associated with
the known mineralisation. Four RC drill holes did not intersect significant
mineralisation, but did show the host ultramafic was open, and untested, to
the northwest. The EM survey, which covered only a part of the Woodline
Well project, also shows other weak anomalies that have not been followed
up. A large early-time EM anomaly in the southeast of the project has been
interpreted as current channelling on a loop edge (an artefact of the
programme), however it may also represent deeper weathering or a shallow
dipping conductor.
Aeromagnetics suggest there is additional strike of ultramafic lithology that
has yet to receive any testing within the project.

Unit 8, Level 1, Churchill Court
331-335 Hay Street
Subiaco WA 6008
PO Box 190
West Perth WA 6872
Tel: +61 8 9382 8799
Fax: +61 8 9382 4760
ABN 60 060 525 206
A review made the following observations:
• The facing of the komatiite sequence is not known. Analogy with Mt.
Windarra and South Windarra suggests the northeastern edge to be
footwall (hence southwest-facing), but the gossan samples from an old
costean show the southwestern side of the komatiite to be anomalous in
nickel and copper, indicative of nickel sulphides. Determining the facing
direction is crucial to establishing the komatiite volcanology for Woodline
Well.
• The komatiite contacts may not be intact igneous contacts, rather the
result of granite assimilation. This has implications for the preservation of
nickel sulphides on the preferred footwall contact.
• The old diamond logs do not make it clear if the nickel sulphides are in
their original igneous position or have been remobilised.
• The plunge of the nickel sulphide mineralisation is not known. A
northwest-plunge is still possible (Figure 3).
Geological Review
An external assessment found:
• The dunite lithology intersected in drillholes PDH1 and DDH1 is similar to
the mineralised komatiite sequences at Mt. Windarra and South Windarra;
• Nickel sulphides of up to 1m @ 4.23% Ni are the best indication of the
prospectivity of the komatiite sequence;
• The plunge direction to the north, beneath and to the north of drillhole
PDH1, remains open;
• TEM anomalies which can be successfully modeled as bedrock
conductors related to the prospective komatiite, may represent
accumulations of massive nickel sulphides;
• A bedrock geochemical anomaly of 1000ppm Ni and 290ppm Cu, located
in komatiites along strike to the south, remains untested.
The consultant concluded that the komatiite sequence at Woodline Well
possessed very high potential for hosting accumulations of massive nickel
sulphides similar in style to, but smaller than, Mt Windarra and South
Windarra.

Unit 8, Level 1, Churchill Court
331-335 Hay Street
Subiaco WA 6008
PO Box 190
West Perth WA 6872
Tel: +61 8 9382 8799
Fax: +61 8 9382 4760
ABN 60 060 525 206
The Company looks forward to continue developing its exploration a
development strategy for the Windarra Nickel Project.
Douglas C. Daws
EXECUTIVE CHAIRMAN
The information in this document that relates to exploration results is based on information compiled by Mr Mick Elias
who is a director and employee of CSA Australia Pty Ltd. Mr Elias is a Fellow of the Australasian Institute of Mining
and Metallurgy. He has sufficient experience which is relevant to the style of mineralization and type of deposit under
consideration, and to the activity undertaken. He is qualified as a competent person as defined in the 2004 Edition of
the “Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. He has consented to
the inclusion of this information in the form and context in which it appears. The Australian Stock Exchange has not
received and does not accept responsibility for the accuracy or adequacy of this release.