• Strategic location in the best endowed copper belt in Australia, the Olympic Copper-Gold Province ( Figure 1). This belt is over 500 km long and contains about 75% of the known copper resources in Australia. Olympic Dam is the fourth largest copper and largest uranium deposit in the world, containing some 42% of global uranium resources.   Two discoveries since 2000 at Prominent Hill, approximately 100 kms north west of Olympic Dam and Carrapateena, 20 kms east of Gunson’s Chianti Prospect, have heightened exploration interest in this belt.
• The Project straddles about 10% of the Olympic Copper-Gold belt as four contiguous exploration licences covering about 1,473 square km.
  Mount Gunson lies on the eastern side of the Gawler Craton within the Stuart Shelf geological province, which comprises flat lying Upper Proterozoic (Adelaidean) sedimentary rocks plus older red beds resting on Gawler Craton basement ( Figure 1 & Figure 2).
• The Olympic Dam mine and other iron oxide associated copper-gold prospects to the north and south occur in the basement which is relatively shallow around Olympic Dam, Prominent Hill and north of Mount Gunson around Chianti Prospect.
• Copper mineralisation of Central African Copper Belt style is also widespread in the overlying sedimentary rocks (eg., Mount Gunson mine) and Gunson has title to 44 million tonnes of copper resources of this mineralisation style.  These have an average grade of 1.2% copper, with cobalt and silver credits.  They are listed on page 19 of Gunson's 2007 annual report. 
• In April 2008, the Company announced the commencement of a feasibility study on the shallowest of these resources: the MG 14 deposit.  It contains a JORC compliant Indicated Resource of 1.1 million tonnes grading 1.7%, containing 18,700 tonnes of copper about 25 metres below the surface.  A metallurgical drilling program was completed in July and processing of the drill samples is in progress. 

Associated Documents
Figure 1
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Figure 3