CAPRICORN

WESTERN AUSTRALIA

THE SEARCH FOR LARGE BASE METAL AND URANIUM DEPOSITS

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Proterozoic Basins• “A disproportionately large share of the world’s metallic resources occur in sedimentarybasins of Proterozoic age” United States Geological Survey

• The location of some of the worlds largest Base Metal and Uranium deposits

• Mt Isa Inlier – Western QueenslandLarge Sedex style Base Metal DepositsMt Isa, Hilton, Century, McArthur River (HYC)

• Belt Basin – Western North AmericaLarge Sedex style Base Metal DepositsSullivan, Coeur d’Alene district, Troy, Spar Lake

• Athabasca – CanadaLargest Unconformity style Uranium deposits in the WorldCigar Lake, McArthur River, Key Lake

• Typically these deposits form in or around major fault zones within or on the margins ofProterozoic basins

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Proterozoic Basins of the WorldF

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Proterozoic Basins of AustraliaF

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The Bangemall Basin

• The “Right Age” – Middle Proterozoic

• Geological similarities to Mt Isa region

• Has undergone episodes of folding, faulting and low grade metamorphism

• Major basin‐margin faults (eg) the Talga Fault

• Under‐explored

• Base metals shows and the Abra Pb‐Ag‐Zn‐Cu Deposit

• Aurora Minerals has a dominant position over the Talga Fault

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The Bangemall BasinSimilarities with Mt Isa Region

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Exploration on the Northern Margin of The Bangemall Basin

• Historic exploration (1970‐1996) along the Northern margin of the Bangemall Basinconcentrated on the Pingandy Shelf.

• Interpreted to be the shallow dipping margin between the Bangemall Basin (Edmund FoldBelt) and the basement to the North. Explorers were looking for Zambian CopperBelt stylemineralisation on the shelf.

Old Mapping (GSWA) 1965Edmund Fold Belt Pingandy Shelf

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NESW

Basin fluid flow direct onto Pingandy ShelfModeled:‐ Zambian Copperbelt type deposits Exploration Target generated

by old mapping

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Exploration on the Northern Margin of The Bangemall Basin

• In 1998‐2004 the geological survey mapped a major growth fault called the Talga Fault,was significant in the formation and deformation of the Bangemall Basin

• In 2008 the geological survey confirmed the Talga Fault as the major contact between theGascoyne Complex (Yilgarn Craton) to the south and the Pilbara Craton to the north

New Mapping (GSWA) 2004NESW Edmund Fold Belt Pingandy ShelfTalga Fault

Zn‐Pb‐U mineralisation

Previous Exploration

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Exploration on the Northern Margin of The Bangemall Basin

Aurora Minerals revised Sedex model: The Talga Fault zone acting as a large “filter trap” formetaliferous fluids with deposition of base metal massive sulphides

The Talga Fault Conceptual ModelNESW Edmund Fold Belt Pingandy ShelfTalga Fault

Basin fluid flow into Talga Fault

Modeled:‐ Large Mt Isa type deposit

Continued fluid flow onto Pingandy Shelf

Mineralisation on Pingandy Shelf

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The Capricorn Project Area• Covers 300km along the northern margin of the Bangemall Basin

• Covers the entire 150km strike length of the Talga Fault

• 63 Exploration Licences – 19 Granted

• 100 % owned by Aurora Minerals Limited

• Total project area 11,970 km2

• Five large Project Areas• Talga Fault Zone• Wanna Syncline• Capricorn East• Capricorn Far East• Pingandy Shelf

• Prospective for• Pb, Zn, Ag (eg) Mt Isa• Replacement Cu (eg) Mt Gordon• Unconformity Uranium

• Very little previous exploration – most previous exploration concentrated on thePingandy Shelf

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Exploration TargetsThe Following are considered exploration targets in the Capricorn Project

• The Talga Fault Zone ‐150km strike• Large Sedex Style Base Metal deposits within 5km of the Talga Fault (currently testing 45 ofthe first 60 targets selected in southern part of this zone in the Knot area – many more targets to follow)

• Stratigraphic and structurally controlled deposits on cross cutting structures over thelength of the Fault Zone

• Stratigraphic and structurally controlled Base Metal and Uranium deposits onadjacent and parallel structures

• Wanna Syncline• Large Sedex Style Base Metal deposits• Large Unconformity style Uranium deposits

• Capricorn East• Large Sedex Style Base Metal deposits

• Capricorn Far East• Large Sedex Style Base Metal deposits

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2007‐2008 Exploration2007 Exploration program

• $1.2 million VTEM (Versatile Time Domain Electro Magnetic) Survey• Multiple Targets Identified

• Regional broad spaced surface geochemical sampling• Up to 5,140ppm Zinc• Up to 998ppm Copper• Up to 925ppm Uranium• Up to 8.9% Barium

Current 2008 Exploration program

• 200 VTEM targets (conductors) identified from the VTEM survey

• Surface geochemical testing first 45 of 60 VTEM and other targets on granted tenementsat the Knot area in the Talga Fault Zone – South East.

• Identify drill targets and lodge appropriate applications

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ExplorationTalga Fault Zone ‐ VTEM Targets• >200 VTEM targets selected over the Talga Fault Zone• Surface geochemical sampling• Define drill targets

WANNA SYNCLINE• Large Target area for Unconformity style uranium deposit• Airborne geophysics to define most responsive targets• Surface geochemical sampling• Define drill targets

CAPRICORN EAST• Parallel fault structures and possible strike extensions of the Talga Fault• Airborne geophysics to identify Base Metal targets• Surface geochemical sampling• Define drill targets

CAPRICORN FAR EAST• Airborne geophysics to identify Base Metal targets• Surface geochemical sampling• Define drill targets

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Highlights

• Located in ‘Western Australia’ the one of the most geologically prospective regions ofthe World

• Dominant Land Holding over the Talga Fault and a Large holding over the NorthernMargin of the Bangemall Basin

• Large Scale Ground Exploration program seeking world class deposits

• Multiple Targets

• Multi Commodity potential – Pb‐Zn‐Ag, Cu, U

• Large Geotechnical database

• Large Exploration Field Team

• Under Explored

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