Final report EL 8413 Running Creek (including annual report for year ended 28 December 2001)

Abstract

The report summarises all exploration activities carried out during the eight years of licence life and gives references to the previous annual reports for details. During the last year of tenure work was restricted to the identified resource assessment and a scoping study incorporating mining and processing options. The identified resources for Stanton Prospect were estimated according to JORC in indicated and inferred category. The indicated resources were 0.8 Mt at 0.15 percent Co, 0.15 percent Cu, 0.08 percent Ni and inferred 0.1 Mt at 0.12 percent Co, 0.12 percent Cu and 0.04 percent Ni. If the mineral resource estimate can be upgraded to a measured resource category, there could be a viable mining development with an attractive financial return.