Youanmi

(Sirius 70% excluding V-Ti-Fe)

The Youanmi project covers the Youanmi intrusive complex and surrounding felsic stratigraphy. The intrusive complex is prospective for magmatic platinum group metals (PGM) mineralisation, and the surrounding felsic stratigraphy is prospective for volcanogenic massive sulphide (VMS) style copper-zinc mineralisation, as evidenced by drill intersections and resources recently defined by other companies nearby. These occurrences include the nearby Currans prospect (7.03m @ 1.48% Ni in drilling), Empire Resources' Just Desserts resource (1.07mt @ 1.8% Cu and 0.8g/t Au) and Metals Australia's Manindi resource (1.35mt @ 6% Zn). The JV also contains extensions of structures which host gold mineralisation at Apex's nearby Youanmi gold mine.

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, and the vanadium-titanium-iron rights.

Exploration at Youanmi commenced in late 2009 with selective geochemical surveys over PGM and VMS target areas. The first of these surveys has defined a >400 metre long Cu-Zn-Pb anomaly along strike from the known Manindie VMS zinc deposit.

An initial reconnaissance RAB drilling program has been undertaken to test a variety of shear zone hosted gold targets and to better define the location of the prospective VMS trend prior to planned electromagnetic (EM) surveys. Results from the RAB program are expected in May 2010.

A further four VMS targets and two magmatic sulphide targets are awaiting soil sampling, which will be undertaken throughout 2010.

Youanmi Project Location Plan Link to enlargement (165 kb PDF)

Youanmi Project Tenements Over GSWA 500k Geology Link to enlargement (202 kb PDF)

Youanmi Project Magnetics Link to enlargement (377 kb PDF)