Activities Report for the Quarter Ending 30 September Highlights

Transcription

1 Activities Report for the Quarter Ending 30 September 2007 Highlights Anomalous rock chip results confirm the presence of a potential new copper-gold mineralized zone paralleling the interpreted Tanami Trend at the Granite South prospect in the Company s Halls Creek project area. Lady Helen epithermal gold silver prospect can now be incorporated within the Company s Halls Creek tenement portfolio. The results of a grid MAGLAG over the Mt Agnes copper gold project has confirmed the presence of an extensive multi-element anomaly associated with the Meilga Prospect. 3D Resources website is now live. East Kimberley Projects Preliminary exploration of the Company s newly granted tenements at Halls Creek in the East Kimberley has confirmed the presence of copper and gold anomalous gossanous quartz lodes occurring within a hydrothermally altered granite host. The lodes are aligned parallel to the northwest southeast trending interpreted Tanami Trend. The ranges and means of assay results from six rock chip samples taken over a 500 m strike length are shown in Table 1. Table 1 - Granite South Rock Chip Values Lowest Highest Average Sample (n) Gold (Au) 0.45 ppb 77.5 ppb ppb 6 Copper (Cu) 33 ppm 1940 ppm 494 ppm 6 Molybdenum (Mo) 1.1 ppm 44 ppm 13.7 ppm 6 An objection against a small Mining Lease application over the Lady Helen prospect, that also occurs within the interpreted Tanami Trend, has been successful in the Karratha Wardens Court and will facilitate the eventual granting of the overlying Prospecting Licence (P80/1638) in favour of 3D Resources Limited. Lady Helen prospect represents an epithermal chalcedonic cap containing gold and silver mineralisation. The Lady Helen prospect has returned values of 26.1 g/t Au and 22 g/t Ag. The prospect has been subject to shallow pitting and limited drilling.

2 Siliceous gossan assaying 1940 ppm Cu at Granite South Prospect Mt Angelo North VMS Prospect Drill hole results from several programs carried out at Mt Angelo North over the last 20 years are currently being collated and incorporated within a comprehensive drill hole database. Many of the drill hole collars as well as previous grids at Mt Angelo North have been located by hand held GPS using the MGA GDA94 datum. This data will be reviewed and mineralisation trends established before additional drill holes are planned. There is potential for a JORC compliant resource to be established for the VMS copper-zinc mineralisation at Mt Angelo. Mt Angelo Porphyry Copper (- Gold) Project Exploration has commenced and has included regional MAGSTREAM sampling coupled with an orientation soil/maglag traverse over the porphyry style copper mineralisation at Mt Angelo. Preliminary geological mapping has confirmed that the felsic granopohyric host to the mineralisation has the potential to extend over 6.5 km and be at least 400 m wide. A soil/maglag program will be implemented over this area as soon as clearances from the Traditional Owners have been obtained through the Kimberley Land Council (KLC). Mt Agnes Copper Gold Project

3 The results from an extensive grid MAGLAG geochemical program, comprising over 800 samples collected from the Mt Agnes tenement, have been received. The geochemical results confirm the presence of a gold-copper bismuth anomaly associated with the Meilga Prospect. The anomalies extend over a 600 m x 300 m area and would appear to be bordered, and possibly bisected, by a northwest southeast trending fault that has been highlighted both by the geochemistry and the UTS aeromagnetic data. The target elements are associated with a manganese halo extending up to 600 m out from the Meilga Prospect and would appear to confirm the presence of an extensive hydrothermal alteration halo consistent with an Iron Oxide Copper Gold mineralisation style. Additional anomalous gold and copper values in MAGLAG samples occur within the interpreted northwest southeast oriented structural corridor associated with the Meilga Prospect. RC drilling of the Meilga Prospect will occur as soon as government approvals have been received and a drilling rig organised. Meilga Prospect Au (ppb) Meilga Prospect Cu (ppm) Interdex image and circle plot showing the distribution of Au (ppb) values in MAGLAG samples at Mt Agnes (red - anomalous, blue background). Interdex copper image and gold circle plot of MAGLAG samples at Mt Agnes (red - anomalous, blue background). Note the interpreted NW SE structure (dashed line) relative to the Meilga Prospect. McIntosh Nickel Copper - PGE Project Re-sampling of anomalies located by Hoistem and ground EM traversing by Joint Venture partner Sally Malay Mining Ltd has returned strongly anomalous rock chip results of 2050 ppm Cu, 5500 ppm Ni and 440 ppm Co associated with a possible sheared troctolitic gabbroic unit within the McIntosh Hills intrusive lopolith. In addition, a gossanous peridotite at Melon Patch Ni Cu Prospect returned strongly anomalous values of 8200 ppm Cu, 6700 ppm Ni and g/t PGE plus gold. These results support previous sampling and suggest that further work is required. Summary

4 3D Resources Limited website is now live and contains summaries of the Company s Projects. Geochemical results are now filtering through for Mt Agnes and Mt Padbury confirming the presence of significant anomalies that require follow-up. Preliminary exploration has commenced at the Company s Halls Creek tenements with the location of a hitherto unrecognised mineralised trend at Granite South that parallels the interpreted Tanami Trend. Extensive soil/maglag geochemical programs are planned for Mt Angelo porphyry copper (-gold) prospect and drilling programs are planned for Mt Agnes, Mt Padbury and Mt Angelo after government approvals and Traditional Owner clearances have been obtained. Follow up of possible nickel copper mineralisation in the McIntosh project area will continue. Signed on behalf of the Board of 3D Resources Ltd. For Further Information, Contact Craig Rugless, Managing Director Telephone: E80/3870 Anomalous Tanami Trend Lady Helen Granite South HALLS CREEK 10 km 3D Resources Halls Creek Project tenement package showing the location of Granite South and Lady Helen Prospects in relation to the interpreted Tanami Trend based on anomalous MAGSTREAM gold values (yellow circles - large circles represent >20 ppb Au). Information in this ASX Announcement relating to Exploration Results and geological data has been compiled by the Managing Director of 3D Resources Ltd, Dr Craig S. Rugless who is a

5 Member of the Australian Institute of Mining and Metallurgy and a Member of the Australian Institutute Geoscientists. He has sufficient experience that is relevant to the types of deposits being explored for and qualifies as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2004 Edition).

6 Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001. Name of entity 3D RESOURCES LIMITED ABN Quarter ended ( current quarter ) September 2007 Consolidated statement of cash flows Cash flows related to operating activities Current quarter Year to date (3months) 1.1 Receipts from product sales and related debtors 1.2 Payments for (a) exploration and evaluation (b) development (c) production (d) administration (127) (92) (127) (92) 1.3 Dividends received 1.4 Interest and other items of a similar nature received Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Other (provide details if material) Net Operating Cash Flows Cash flows related to investing activities 1.8 Payment for purchases of: (a)prospects (b)equity investments (c) other fixed assets 1.9 Proceeds from sale of: (a)prospects (b)equity investments (c)other fixed assets (177) (177) (44) 1.10 Loans to other entities 1.11 Loans repaid by other entities 1.12 Other (provide details if material) (44) Net investing cash flows (44) (44) 1.13 Total operating and investing cash flows (carried forward) (221) (221) 30/9/2001 Page 1

7 1.13 Total operating and investing cash flows (brought forward) (221) (221) Cash flows related to financing activities 1.14 Proceeds from issues of shares, options, etc Proceeds from sale of forfeited shares 1.16 Proceeds from borrowings 1.17 Repayment of borrowings 1.18 Dividends paid 1.19 Other Capital Raising Costs Net financing cash flows Net increase (decrease) in cash held (221) (221) 1.20 Cash at beginning of quarter/year to date 2,887 2, Exchange rate adjustments to item Cash at end of quarter 2,666 2,666 Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities Current quarter $A' Aggregate amount of payments to the parties included in item Aggregate amount of loans to the parties included in item Explanation necessary for an understanding of the transactions N/A Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows On 6 July 2007 the company issued 142,857 shares at $0.14 to Sulphide Resources Pty Ltd as part consideration for the acquisition of M80/ Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest N/A Page 2 30/9/2001

8 Financing facilities available Add notes as necessary for an understanding of the position. 3.1 Loan facilities 3.2 Credit standby arrangements Amount available Amount used Estimated cash outflows for next quarter 4.1 Exploration and evaluation 4.2 Development 300 Total 300 Reconciliation of cash Reconciliation of cash at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts is as follows. Current quarter Previous quarter 5.1 Cash on hand and at bank 2,666 2, Deposits at call 5.3 Bank overdraft 5.4 Other (provide details) Total: cash at end of quarter (item 1.22) 2,666 2,887 30/9/2001 Page 3

9 Changes in interests in mining tenements 6.1 Interests in mining tenements relinquished, reduced or lapsed Tenement reference Nature of interest (note (2)) Interest at beginning of quarter Interest at end of quarter 6.2 Interests in mining tenements acquired or increased E80/3938 P80/1638 M80/247 P80/1653 P80/1654 P80/1655 P80/1656 P80/1657 P80/1658 P80/1659 P80/1660 P80/1661 P80/1662 P80/1663 P80/1664 E80/3928 Exploration Licence (Application) Mining Lease Exploration Licence (Application) 10 Page 4 30/9/2001

10 Issued and quoted securities at end of current quarter Description includes rate of interest and any redemption or conversion rights together with prices and dates. 7.1 Preference + securities (description) 7.2 Changes during quarter (a) Increases through issues (b) Decreases through returns of capital, buy-backs, redemptions Ordinary securities Total number Number quoted 37,012,957 21,872,857 Issue price per security (see note 3) (cents) Amount paid up per security (see note 3) (cents) 7.4 Changes during quarter (a) Increases through issues 142, , cents 14 cents (b) Decreases through returns of capital, buy-backs Convertible debt securities (description) 7.6 Changes during quarter (a) Increases through issues (b) Decreases through securities matured, converted 7.7 Options (description and conversion factor) 7.8 Issued during quarter 3,750,000 1,750,000 1,000,000 Exercise price 20 Cents 25 Cents 30 Cents Expiry date 31/08/ /08/ /08/ Exercised during quarter 7.10 Expired during quarter 7.11 Debentures (totals only).12 Unsecured notes (totals only) 30/9/2001 Page 5

11 Compliance statement 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 4). 2 This statement does give a true and fair view of the matters disclosed. Sign here: Date: 31 October 2007 (Director/Company Secretary) Print name: John Chegwidden 1 The quarterly report provides a basis for informing the market how the entity s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report. 2 The Nature of interest (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and Issued and quoted securities - The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities. 4 The definitions in, and provisions of, AASB 1022: Accounting for Extractive Industries and AASB 1026: Statement of Cash Flows apply to this report. 5 Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with. == == == == == Page 6 30/9/2001