The Murray Hills Project (244.9 km²) is situated approximately 60km northwest of the giant Wingellina Ni Laterite deposit. The Project contains a classic conduit shaped layered ultramafic intrusion with considerable thicknesses of pyroxenite to dunite. The ultramafic portion of the intrusion, including four narrow gabbro layers, is 2.7km true thickness, and the target stratigraphy has over 10km of strike. An agreement with the Traditional Owners was negotiated in early May 2008. On ground clearances were conducted in June 2008.

Two rock-chip samples were collected during a reconnaissance visit to the intrusion. One of these rock chip samples contains 0.205 g/t PGE + Au and elevated Cu. The sample was collected near the top of the ultramafic portion of the intrusion and the grades of PGE illustrate the potential of the intrusion to host reef type PGE mineralisation. Geochemical studies of the intrusion (including Cu/Pd*1000 ratio work) also show that it is extremely fertile for PGEs and sulphide mineralisation.

The conduit-shaped ultramafic intrusion, apart from being prospective for PGE reef-type deposits, is also highly prospective for basal Ni-Cu-PGE and Ni laterite styles of mineralisation. Several valleys and potential deep weathering zones along the intrusion are sited over favourable ultramafic units. The intrusion is coincident with a discrete gravity high and distinct magnetic low.

A second area of interest on the Project is the the Murray Range Giles Complex Gabbro Intrusion in the east of the project area. The western contact with basement rocks contains a 1.8km long ironstone which is thought to be prospective for Ni-Cu-PGE mineralisation (contains anomalous copper based on reconnaissance sampling).

Exploration on the tenement has included:

• Ground magnetic survey using a streaming ground magnetometer on lines 100m apart to test and constrain the basal contact of the Stripeys intrusion, totaling 370 line kilometres over 37km²;
• Gossan search along basal contact including rock chip sampling;
• 200m x 50m spaced NE trending lines of Niton XRF geochemical soil sampling (totaling 3156 samples) in the region of the basal contact and along strike to define the limits of the system, assayed for Ni, Cu, Fe, Mn, As, Pb and Zn;
• Infill Niton XRF soil sampling at 100 x 50m centres over the area where high PGEs were rock chipped on the eastern side of the intrusion;
• 800 x 50m spaced DLag sampling across the intrusion (totaling 339 samples) and basal contact assayed at Ultratrace for Pt, Pd and Au; and
• 50m spaced rock chip sampling on one line across the Stripeys intrusion to test the geochemical signature of the intrusion for PGE reef-type deposit potential.

The ground magnetics have clearly defined the base of the Stripeys ultramafic intrusion and allowed targeted sampling. The bulk of geochemical results are yet to be returned, although several Niton generated anomalies (Ni-Cu) along the basal contact appear to be significant.

TMI RTP with Fact Geology and Interpreted Basal Contact

Stripeys Layered Intrusion