Browns Mine Leases MLN139-147 and MLN150-N152 Annual Report for the year ended 31 December 2012

Abstract

The metallurgical drilling program from 2011 was completed during 2012. The purpose of the program was to extract enough additional lead rich core sample, to complete the required tonnage, to allow the Joint Venture partners to embark on a series of detailed metallurgical tests to characterise the lead ore and examine its extractability in processing. This drilling program was completed to add more material to the bulk sample from 2011 (already in storage) and due to the reactive nature of the sulphides within the core, it was immediately packed and stored in refrigerated containers awaiting further direction from the JV partners. As a result of this no logging or assaying has taken place until a processing technique is decided upon. Once this process is completed all assays and drill logs will be submitted accordingly. A detailed airborne FALCON gravity survey (and associated LIDAR survey) covering all tenements (including the Mineral Leases) was flown during December 2012 with flying completed on 27 December 2012.