Summary

· Shallow high-grade gold intersected at New Bendigo, Tibooburra and a new gold discovery at Kink some 6 km to the south, both in proximity to a major fault system extending for 40 km within the tenements.  A 6,000m follow up drilling programme is in progress to test these targets.

· Scout RC drilling at Coorara has intersected goethite-hematite enrichments of up to 8m @ 60.9% Fe From 10m, within this 40km-long banded iron formation.   Further work is in progress to identify structural targets for DSO-grade mineralisation.

· High-grade hematite-goethite identified in outcrop at Robinson Range in the Mid West iron ore province.

· Iron oxide-copper-gold (IOCG) targets identified in the unexplored and prospective Webb area of the West Arunta region.

· Virgin kimberlite targets identified in the Webb area of the West Arunta region and farmed out to North Australia Diamonds.

· A 61,000oz gold resource identified at Wilthorpe.

Projects:

Gold

Iron  

Copper   

Diamonds   

Mr Peter Thomas - Non-Executive Chairman

Mr Thomas, a lawyer, has specialised for over twenty years in the provision of corporate and commercial advice to ASX listed companies. He has been responsible for the structuring and restructuring of many companies, has been involved with the listing of and has served as (both an executive and non executive) director of a number of listed companies. Mr Thomas was a founding director of aspiring mineral sands producer Magnetic Minerals Limited and is presently chairman of Image Resources NL, Magnetic Resources NL and Emu Nickel NL.

Mr George Sakalidis - Executive Director-Exploration
 
Mr Sakalidis is an exploration geophysicist with over twenty years experience during which time his career has included extensive gold, diamond, base metal and mineral sand exploration. He, with others, has compiled one of the largest aeromagnetic databases in Australia, which is now held by Image Resources. Using this database, Mr Sakalidis has been involved in a number of discoveries including gold discoveries, such as the Three Rivers deposit and the Rose deposit in Western Australia. Mr Sakalidis was instrumental in the acquisition of the Image Resources exploration tenements and the design of the magnetic surveys that led to the discovery of the large mineral sands resources at Magnetic Mineral's Dongara Project.

Mr Sakalidis was a founding director of Magnetic Minerals Limited and was previously a director of North Star Resources NL and is currently Managing Director of Image Resources NL, Magnetic Resources NL and Emu Nickel NL.

Mr Roger Thomson - Managing Director

Mr Thomson is a geologist with more than thirty years experience in mineral exploration, mining geology and management in Australia, Africa, South America and SE Asia. Mr Thomson has held the positions of General Manager Exploration with Delta Gold Ltd and Sons of Gwalia Ltd and has been responsible for, or closely associated with, making economic discoveries of gold and tantalum in Australia. He successfully managed the programme that led to the discovery of the multi-million ounce Sunrise gold deposit, near Laverton in Western Australia. Mr Thomson is an Associate of the Royal School of Mines, a Member of the Australasian Institute of Mining and Metallurgy, Member of the Society of Economic Geologists and a Member of the Australian Institute of Geoscientists. He is currently an Executive Director of Image Resources N.L, Magnetic Resources NL and Emu Nickel NL.

No info available.