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Hill End, AUS
Home of Bullion
Prospect D
Prospect
D "A"
Exploration
Targets
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Home
of Bullion Mine, N.T., Australia
Home of Bullion Mine is 50% owned by
Goldstake. The mine has produced 2,500 tons of 22.5%
copper. A report by ASARCO (US) and EZ INDUSTRIES (pre NI 43-101)
estimates a resource of 126,000 tons of 15% copper from surface to a
depth of 210 ft.
An estimated 7000 tons of 10% grade copper is stockpiled at surface.
Goldstake and its joint ventures partners plan to diamond drill 9 Holes
(900 metres total) to confirm these historical reserves and then
commence open-pit mining for recovery of the copper, silver, lead and
zinc in this deposit, concurrently carrying out drilling to extend the
reserves on this “Main” reef, and developing further
resources on a cluster of reefs exposed on the surface in close
proximity to the “Main” reef.
See following map (Exhibit 1) for specific mine locations.
See Dr. Derek
McBride's,
Qualified Person, OSC National Instrument 43-101 Compliance Report for
Goldstake in our Presentation
& Webcasts section.
Prospect D
– Nickel,
Copper, Gold, N.T., Australia
Goldstake owns 50% of this properrty which is approx. 30 kms. from the
Home of Bullion Mine.
An agreement with Mithril Resources and Falconbridge allows their joint
venture to earn a 75% of Prospect “D” by spending $5
million [by July 2007] and paying $200,000 cash to GXP and partners
after spending the first $1 million.
As at October 31, 2005, approx. $800,000 has been spent.
Pre NI 43-101 Drill Indicated Reserves:
- 1972, 11 diamond drill holes
along a 2 km
strike length to a depth of 300 ft. indicated probable resource of:
Tonnage Copper
Nickel Width
Oxide 1,633,600
0.512% 0.151% 30’
Sulphide 1,530,200 0.621%
0.247% 28’
- Drill intersections as high as
1.48% Copper,
0.48% Nickel, 215 grams silver & 5.8 grams Gold over 16.9 ft. at
shallow depth (hole 7)
- Gold & Silver values not
given for most of
1972 drill results but a mining operation would produce Gold &
Silver as well as Copper & Nickel
Project
Priorities:
- Develop
further ore reserves
on ore body. Dimensions 550' x 15' x 660' x 2.8sg.
- Mine 500
thousand tons
(approx.) whilst developing further reserves..
- Cost to
feasibility, $3
million Australian. Total length of anomaly is over 5,000
- feet.
Additional
Exploration Targets:
• Mulbangas
50%
Is a surface copper outcrop in Northern Territory, Australia
Part of a mineralized strike line of approximately 40 km North to South
• Barrow Creek Copper
Anomaly 50%
This magnetic anomaly was identified by an induced polarization survey
conducted by the NT Government Survey.
• Utopia -
NT, Australia 50%
Located 300 km north of Alice Springs
Exploration License #24355 covers approx. 500 square km
Tantalum/Tin mineralised layered pegmatite over 5 km long and 140 M
wide on surface
Assays of up to 2 pounds tin (Sn) & 1 lb. Tantalite (Ta)
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