Toby Creek Joint Venture
Early in 2006, CopperCo entered into a Farm-in and Joint Venture Agreement with Xstrata Copper on its wholly owned Toby Creek property located 30 km southeast of Mount Isa. Toby Creek is a non core tenement for CopperCo, insofar as the potential for shallow oxide copper occurrences. However, CopperCo and Xstrata believe the tenement shows potential for Mount Isa style copper mineralisation, in addition to stratiform hosted zinc-lead silver mineralisation.
Work completed comprises a low level aeromagnetic/radiometric survey over the northern part of the tenement and an IP-resistivity survey was also completed outlining a coherent, moderate strength IP anomaly beneath a broad zone of haematite staining. The data is now being used to construct a 3D geological model with a further deeper penetrating IP-resistivity survey planned over the colluvium covered areas of the prospect.
Laverton Downs gold-nickel project (97%)
CopperCo is currently examining options to sell its interest in the property.
Mr SJ Pooley (MAusIMM, MAIG), a geologist employed full-time by CopperCo Limited, compiled the technical aspects of this report. Mr Pooley is a member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Pooley consents to the inclusion in the report of the matters in the form and context in which it appears.
