FAIRSTAR RESOURCES LIMITED - ASX: FAS

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Description

The Kurnalpi-Randals Project is located south east of the old Kurnalpi mine workings about 95 km north east of Kalgoorlie, in the Coolgardie Mineral Field in Western Australia.

The project area comprises of:

* Mahendras Find Project
* Kurnalpi East (Colour Dam, Anti Dam)
* Kurnalpi North (Halfway Hill)
* Kurnalpi South
* Jones Find
* Duchess of York

The Kurnalpi area has a history of gold mining, which available records indicate has produced in excess of 580 kg gold (18,650 ounces) from 14,292 tonnes at an average grade of 40.4 g/t gold. During the reporting period for the annual report, exploration work was carried out on Halfway Hill and Colour Dam prospects.

The Spinifex Well Project comprises four tenements (E37/793, E37/749, E37/760, and E37/800) and is located in the Mount Malcolm District of the Mount Margaret Mineral Field in WA, about 70km north of Leonora and 250km north of Kalgoorlie. Access from Leonora is by way of the major Leonora-Nambi main road. The Project covers a substantial portion of a large magnetic granodiorite complex on the eastern side of the Bundarra Batholith. Previous explorers have identified a number of gold anomalies hosted within quartz veins. However, these anomalies have only been tested with limited drilling; insufficient to evaluate their potential.

The Mount Padbury Project covers a relatively unexplored area of the Murchison Mineral Field where uranium mineralisation has been found in calcrete deposits developed within intermittently flowing tributaries of the Murchison and Talga Rivers. The Mount Padbury Project comprises Exploration Licences E51/1147 and E51/1150 and is located near the town of Meekatharra, WA about 700 km north of Perth. Access to Mount Padbury tenements from Meekatharra is by way of the Meekatharra-Mount Clere Road, which passes from south to north through the centre of the area.

Murray Basin Oil & Gas Exploration

Fairstar's management is strongly of the belief that diversification is the most effective vehicle for managing any financial risk and this applies also to exploration. With this in mind, on July 3, 2007, the Company entered into a Farm-in Agreement with Knight Industries Pty Ltd (KIPL) for oil and gas exploration in KIPL's Petroleum Exploration Permit (PEP) 165 in the Victorian part of Murray Basin, in the State of Victoria. The PEP 165 is located near the Towns of Sea Lake and Robinvale in a gravity low that extends southwards from the concealed north east trending Balaranald trough beneath the Murray Basin. The Murray Basin covers areas of three Australian States; southwest New South Wales, extending west into South Australia and south into Victoria.

Mine For

gold, uranium, iron ore, lead, zinc

Location of operation(s)

Western Australia

Australian Basins

Murray

Address

3/136 Main St
OSBORNE PARK, WA, AUSTRALIA

Phone

(61 8) 9242 5111

Email

Website

http://www.fairstarresources.com/

Last Updated

16/03/2010