Polar Bear

(Sirius 100%)

The Polar Bear project covers an area of over 190 square kilometres between Higginsville and Norseman, and contains several major shear zones which host gold mineralisation further north including that at Alacer’s Trident deposit.  The project also contains the extensions of the Kambalda and Widgiemooltha ultramafic stratigraphy, which hosts world class nickel sulphide mines along strike to the north.

The area is relatively unexplored due to it being largely concealed by the shallow salt lake sediments of Lake Cowan and the sand dunes of the Polar Bear peninsula. Exploration has also been limited during the past twenty years due to a series of complex joint ventures and ownership structures. Sirius’ purchase of the project extinguishes all other previous joint venture agreements and delivers full title to the tenements and all commodities.

The Halls Knoll gossan (the oxidised surface expression of sulphides) has yielded extremely high levels of Ni, Cu and platinum group metals (PGM's) indicative of the presence of massive nickel sulphide. Sirius’ initial drilling has intersected disseminated nickel sulphides beneath the salt lake surface, with individual metre values up to 2.5% nickel, 1.5% copper and 1-2g/t palladium and platinum.

Numerous electromagnetic (EM) conductors have also been identified beneath the salt lake, of which eight are considered priority targets.

Sirius' first reconnaissance drilling for gold has also intersected supergene gold mineralisation with values up to several grams per tonne.

An aggressive exploration program will commence mid-year once a suitable lake rig is secured.