Anthiby Well

Giralia 100%, Newcrest Operations Ltd/Sipa Exploration NL Royalty

Giralia’s Anthiby Well iron ore project is a new discovery of channel iron (CID) mineralisation located around 100 kilometres west of Paraburdoo in the Pilbara Region of Western Australia. An initial 87 hole drilling program was completed in December 2008. The Mineral Resource comprises mesas of pisolitic iron ore mineralisation. The mineralisation commences at or very near the natural land surface, to a maximum depth of approximately 40 metres. Better drilling intersections include; 32 metres @ 55.1%Fe including 24 metres @ 56.0%, 22 metres @ 56.3%Fe, and 18 metres @ 56.2%Fe.

Note; CID=channel iron deposit based on lower Fe cut-off of 50%, SCID= siliceous channel iron deposit based on lower Fe cut-off of 40%.  Calcined Iron grade (CaFe) is a measure of iron content upon removal of volatiles (i.e. LOI).

Giralia holds100% interest at Anthiby Well subject to a production royalty.  Several Robe Pisolite mesas have been identified in the area as targets for channel iron mineralisation, and potential also exists for extensions around and between between mesas.

The Company plans further drilling to test for resource extensions particularly around and to the west of the Western Mesas, and to conduct beneficiation testwork to establish whether the lower grade CID and SCID  mineralisation is amenable to low cost  upgrading using screening. 

The information in the report that relates to in-situ Mineral Resources is based on information compiled by Mr Grant Louw of CSA Global. Grant Louw takes overall responsibility for the Report. He is a Member of the Australian Institute of Geoscientists and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a Competent Person in terms of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code 2004 Edition). Grant Louw consents to the inclusion of such information in this Report in the form and context in which it appears.

Anthiby Well drillhole locations on airphoto showing selected CID intersections.