Sirius Resources

Fraser Range

(Sirius 70%)

The Fraser Range JV covers over 150 kilometres strike extent of the Albany-Fraser mobile belt on the south-east margin of the Yilgarn Craton, south of Anglogold's/Independence's Tropicana gold discovery. The project contains two distinct geological belts, each prospective for different commodities. The southeaster belt comprises mafic - ultramafic intrusive rocks of the Fraser Complex and is considered prospective for the rare but potentially giant intrusive-style Ni-Cu-PGM deposits that are found within circum-cratonic mobile belts worldwide. The northwestern belt is the continuation of the Tropicana belt - host to Anglogold Ashanti's 5 million ounce Tropicana-Havana gold mine, and is prospective for Proterozoic gold mineralisation.

The project is a joint venture with prospector Mark Creasy. Sirius has a 70% interest with Mark Creasy retaining a 30% free carried interest to the completion of a bankable feasibility study.

Sirius has defined oxide-zone nickel-copper-cobalt mineralisation at the Gnama South prospect and has recently intersected gold mineralisation in several holes during its first pass reconnaissance drilling program of the 10km long Brookman gold anomaly.

A 200 hole follow up drilling program commenced in early April 2011 at the Brookman anomaly.

Additionally, recent geochemical sampling has defined a large (2km long) coincident nickel-copper anomaly over an eye-shaped magnetic feature thought to be a previously unknown domal structure or layered intrusion containing nickel-prospective ultramafic rocks.