ERL 94 exploration activities report for the 12 month period to 9 September 2007

Abstract

ERL 94 surrounds the Redbank Copper Operations. Currently Redbank Mines Ltd is producing copper from a stockpile leach operation located within mining leases surrounded by ERL 94. In year leading up to the tenement anniversary of the 9 September 2007 the company completed an RC and diamond core drilling program focussing on the copper deposits at Punchbowl. The initial drilling program was completed in January 2007, with follow up drilling completed in March and April 2007. The drilling confirmed that there was a copper mineralised sub-volcanic breccia pipe at Punchbowl obscured beneath 10 to 15m of barren Quaternary cover. A resource has been calculated for the Punchbowl mineralisation of 385,000 tonnes at 1.3% copper down to a depth of 100m. However mineralisation has been shown by drilling to continue down to vertical depth of more than 200m.