Perth, Mar 17, 2008 AEST (ABN Newswire) - Minemakers Limited (ASX: MAK) has now received all requisite approvals for its planned reverse circulation ("RC") and diamond drilling programmes at the Wonarah Rock Phosphate project.
The Company thanks the Traditional Owners and their representatives, the Central Lands Council, and also the Northern Territory Department of Primary Industry, Fisheries and Mines for their prompt co-operation and enthusiasm.
The drilling will provide the cornerstone data for the economic and development studies. The RC drilling will mobilise in the first week of April and is aimed at allowing a new JORC compliant resource estimate and to test the potential of the Arrawurra Prospect to be a preferred deposit for fast track development. Diamond drilling will begin in mid April and it will:
- Provide material for the metallurgical testwork programmes.
- Provide geotechnical data for pit design, mining method and costs.
- Provide hydrological information.
- Allow testing of the lower phosphorite unit for which resources have not previously been estimated.
The Company is currently in the logistics phase for the programme and will shortly begin line clearing for drill access.
MINEMAKERS' BACKGROUND
Minemakers has acquired and aims to be a developer of mineral projects. The company has a portfolio comprising several projects with identified resources and large databases and others with highly prospective mineral targets. There are currently five projects in the portfolio covering iron ore, tin and tungsten, salt, phosphate, fluorite and polymetallics. The tin/tungsten deposits are also highly prospective for uranium.
The most advanced opportunity is the Wonarah rock phosphate project (NT). Others are for tin and tungsten, centred on the historic Aberfoyle and Storey's Creek mines in the northeast of Tasmania, as well as several other tin or tin/tungsten deposits. The Moina (Tas) fluorite and polymetallics project is also under assessment.
The Company has identified a unique opportunity to position itself with non-mainstream commodities or mineralization. Rising demand has increased prices for many mineral commodities. In several of the commodities for which Minemakers holds large deposits or targets, restricted Chinese mineral exports have decreased available supply.
Minemakers' projects are in Australia, with its low sovereign risk and generally contain deposits with open cut mining potential.
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Andrew Drummond, a Fellow of The Australian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Drummond has sufficient experience deemed relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Drummond consents to the inclusion in the report of the matters based on his information in the form and context in which it appear.
Contact
Andrew Drummond
Managing Director
Phone: +61 8 9264 7000
Facsimile: +61 8 9264 7099
Web: www.minemakers.com.au
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