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 nickel-copper-platinum group metal (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 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 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 and is currently focused on two target areas - Inky and Ram Well.

At the Inky prospect, initial drilling has defined a zone of disseminated to breccia textured copper-nickel sulphide mineralisation over a vertical interval of ~100 metres. This zone is open along strike and down dip, and a recent down hole electromagnetic (DHEM) geophysical survey has identified a strong conductor extending down dip from the projected extension of this mineralisation and commencing just beneath the deepest drill hole. This suggests that there may be greater quantities of sulphide at depth. Deepr drilling is scheduled to test this in August.

At Ram Well, geochemical surveys have defined an 800 metre long copper anomaly on the interpreted contact zone of the intrusion. A gravity survey has been undertaken and 3D inversion modelling of this has defined several discrete pods of dense material at depth beneath the soil anomaly. Drilling of this is also planned for August 2011.

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)