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 Burnakura 43-101 Technical Report
Project Location
The Burnakura project is located in the western part of the Yilgarn craton, Western Australia, home to deposits of gold, nickel, bauxite, mineral sands and tantalum. Past production from the Westn Yilgarn exceeds 17,000,000 ounces of gold production.
The project lies in the Murchison gold mineral field some 50 kilometres south of the township of Meekatharra that has a population of approximately 1000 people. Meekatharra is a mid west town accessed by a paved highway 764 kilometres north of the capital city Perth. The town is a major supply centre for pastoral and mining in the Murchison district.
The purchase of the Burnakura Project includes a turn-key gold operation with a CIL plant capable of 450 tpd production, infrastructure including offices, workshops and a 90 person camp.
The purchase also includes a total of 58.8km2 of claims that lie in a historical gold belt over the Burnakura shear zone that, according to internal records of previous owners and Western Australia Mines Department records, has to date produced 216,000oz of gold from shallow oxide pits and recently approximately 30,000oz of gold from underground.
 Project History
The project was previously owned by two parties; Extract Resources Limited (EXT) and Tectonic Resources NL (TTR), both Australian Stock Exchange listed companies. Extract originally purchased the project and brought Tectonic in as an operating partner. In 2005, Extract and Tectonic agreed to commence underground production by creating a portal and decline access to ore below the "NOA 2 open cut". Milling began late 2005 and ceased early 2007.
Prior to underground production from 2005 to 2007, the Burnakura Project was mined during the 1990's for shallow open cut oxide to supplement an existing operation some 25km away.
Historically, controls on the mineralization have been poorly understood. East-west structural controls played an important part in hydrothermal fluid movement and gold deposition. Grades up to 25g/t have been intersected in these zones. Due to the limited core drilling below surface, these structures have not been modeled. Recent results from underground mining have highlighted the importance of these structures.
Potential Exploration
The potential of the Burnakura Assets has not been fully ascertained or explored and the Company has initiated a explroation program to test underground and surface targets, announced January 21, 2008.
Prime exploration targets for additional resources at Burnakura are below the NOA 7/8, Alliance and New Alliance pits. Exploration will commence on these targets in conjunction with exploration on the NOA 1 and NOA 2 areas.
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