Collurabbie

(Sirius 70%)

The Collurabbie project covers the northern extensions of the stratigraphy which hosts Falcon's Olympia nickel-copper-platinum group metals (PGM's) discovery, some 12 kilometres along strike. Drilling results previously published for the Olympia discovery include 5.77m @ 3% Ni, 1.96% Cu and 5.3g/t platinum group metals (PGM's). Despite being along strike from Olympia, the area is concealed by younger rocks and is largely unexplored.

The project is a Joint Venture with prospector Mark Creasy, who retains a 30% free carried interest to the completion of a bankable feasibility study.

Limited previous electromagnetic (EM) surveys have identified conductors, including one which appears to broadly correspond with the interpreted position of the prospective horizon. Limited ultra-detailed aeromagnetics has also identified a number of buried lenticular magnetic units, which are interpreted to be similar ultramafic pods to those known to host mineralisation at Olympia. None of these targets have been effectively drill tested.

Sirius has commenced additional ultra-detailed aeromagnetic surveys to define further drill targets and intends to commence initial reconnaissance drill testing of these late in the March 2010 quarter.

Collurabbie Project Location Plan Link to enlargement (168 kb PDF)

Collurabbie Project Tenements Over Regional GSWA Geology Link to enlargement (260 kb PDF)

Collurabbie Project Magnetics Link to enlargement (345 kb PDF)