PLATSEARCH NL - ASX: PTS

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Description

PlatSearch NL is an innovative Australian-based resource company focused on exploring and developing mineral deposits within eastern Australia. The Company was incorporated in 1987 and over the last two decades has successfully explored or joint ventured numerous exploration properties in the search for base metal, gold, nickel uranium, iron and mineral sand deposits. The Company has accumulated a strong portfolio of high quality exploration properties and maintains strong technical abilities in exploration management, geology and geophysics as well as listed company management and Initial Public Offerings (IPO).

Recently the Company has diversified from pure exploration joint ventures to vending its projects into small junior explorers in return for equity, or to place these assets into PlatSearch controlled companies to take through to listing on the ASX. This approach has allowed PlatSearch to build a strong portfolio of investments in a number of ASX listed entities including Western Plains Resources Limited and Eastern Iron Limited whilst allowing the Company freedom to generate new exploration opportunities and continue project assessments. Please see the Investments section of this website for further details.

In addition to its exploration work and grass-roots project generation, PlatSearch has now expanded its project search to include more advanced opportunities as it seeks to increase the likelihood of discoveries that will accelerate its goal of achieving a long term cash flow.

Mundi Plains and Junction Dam - Curnamona Craton

Located 40 km northwest of Broken Hill, EL 6404 (Mundi Plains) in New South Wales and EL 3328 (Junction Dam) in South Australia form the Mundi Plains Project, a joint venture between tenement holder PlatSearch and Teck Cominco Australia for EL 6404 and between PlatSearch, Teck Cominco Australia, Marmota Energy and Eaglehawk for EL 3328. Classic Broken Hill lode stratigraphy and encouraging drill intersections have been discovered within the Mundi Plains project. Additionally, Mississippi valley Style (MVT) mineralisation has been intersected in a number of drill holes at the Dome 5 prospect. Better results include 1m @ 8.3% Pb, 13.9% Zn and 74.9 g/t Ag and 3.06m @ 0.17% Pb, 6.95% Zn and 3.9 g/t Ag in hole DF2. The area is also highly prospective for uranium with numerous ore grade intersections reported by Joint Venture partner, Marmota Energy, within the Junction Dam licence. Results include multiple holes returned peak U3O8 grades of more than 1000 ppm U3O8. High grade intercepts included peak grades of 3226 ppm U3O8 (13,040.8 counts per second) in hole JDRM0121.

Benagerie Ridge - Curnamona Craton

EL 3952 (Frome) and EL 3831 (Poverty Lake) form the Benagerie Ridge Project and are located in the central Curnamona Craton to the east of Lake Frome in South Australia. The project is a joint venture with Newcrest who are managing the exploration. The project area embraces at least 8 discrete magnetic anomalies, each of which could be the expression of significant mineralised structures. Iron-oxide associated copper-gold-uranium (IOCG) mineralisation is being targeted. Joint venture partner Newcrest have drill tested four gravity anomalies and one discrete magnetic anomaly. Hole BRD007 at the magnetic anomaly intersected a highly IOCG prospective pyritic, haematitic breccia on magnetic anomaly “C”.

Callabonna and Quinyambie - Curnamona Craton

EL 3695 (Callabonna) and EL 4289 (Quinyambie) are located in the northern part of the Curnamona Craton in South Australia, about 180 km north of Leigh Creek. Exploration is managed by Red Metal Limited in joint venture with PlatSearch over EL 3695 and with PlatSearch and a prospecting syndicate over EL 4289. Recent processing and interpretation of new, high resolution airborne electro-magnetic data (REPTEM) has successfully mapped the previously unrecognised, northward extension of the Paralana fault system into the Frome joint venture projects. The Paralana fault system is a deep seated, long-life structural zone which is interpreted to play an important role in the localisation of prospective sand sequences and uranium mineralisation at the Beverley and Four Mile deposits. Drilling has intersected prospective palaeochannel sands and a small gamma anomaly in hole L26 suggest potential for uranium roll front further east down the channel. Step out drilling is planned for 2010.

Kalabity - Curnamona Craton

The Kalabity (EL 4461) project area, covering 148 km2, is located about 100 km west of Broken Hill in the northern Olary Domain of the Proterozoic Willyama Inlier in South Australia. Exploration is being conducted by joint venture partner Crossland Uranium Mines. The Kalabity project has significant potential for the discovery and delineation of intrusion-related uranium and rare earth deposits. There is one producing uranium mine in the Curnamona Craton at Beverley and another well known deposit at Honeymoon. Sub-outcropping davidite mineralisation, similar to that mined at Radium Hill, has been discovered within the tenements at the KR4 prospect, and previous work has generated other promising targets, for uranium as well as other commodities.

Hillston - Curnamona Craton

The Hillston project (EL 6363) in NSW is located about 20 km south of Cockburn on the NSW-SA border. Exploration is being managed by Perilya. The Hillston tenement has potential for the discovery of both epigenetic syn to late tectonic stratabound IOCG mineralisation and Broken Hill style high grade metamorphic rock hosted stratiform Pb-Zn mineralisation. Significant oxide copper mineralisation is associated with strike parallel sulphide-rich quartz lodes at the Coultra Mine and several new cupriferous lodes with small prospecting pits have been located by 1:25,000 scale mapping carried out by the Geological Survey of NSW.

Coondambo - Gawler Craton

The Coondambo tenement (EL 3593) is located in the eastern Gawler Craton about 220 km northwest of Port Augusta in South Australia. Joint venturer Marathon Resources Ltd is the operator. Marathon Resources, has completed gravity and geochemical coverage of the project area and has highlighted uranium and rare earth anomalism along major structures identified from aeromagnetic data. The geochemical anomalism occurs in conjunction with weak radiometric responses within the Pandunna Formation sediments.

Mirikata - Gawler Craton

The Mirikata tenement (EL 3537), granted in April 2006, covers an area of about 113km2 in central South Australia approximately 90km south of Coober Pedy. Drilling at the A3 anomaly intersected veined meta-sediments containing anomalous Pb, Zn, As and Ag values, but at sub-economic concentrations. The best result was from hole MRK005 where a 112m interval from 436m averages 0.19%Zn, 0.07%Pb and 1.5g/t Ag. Maximum 2m assays from this zone are Zn (0.54%), Pb (0.21%) and Ag (3.8ppm). The best gold result from these two holes was 2m@0.33g This email address is being protected from spam bots, you need Javascript enabled to view it /t Au from 424-426m in hole MRK005.

Pathfinder - Gawler Craton

The Pathfinder project consists of three tenements; Toolgerie (EL 4323), Black Hill (EL 3281) and Yalata (EL 3280). The project covers a largely unexplored layered ultra-mafic complex west of Ceduna in western South Australia. Exploration is being conducted by Newport Mining Ltd. Exploration under the Pathfinder project is targeting:

Cu-Ni and Cr-PGE: These are identified as being in a large (25km x 75km), essentially unexplored, layered mafic-ultramafic complex, which has been identified using gravity, aeromagnetic and drill data. The depth of cover over this feature ranges between 30m and 150m. A clearly defined prospective basal contact has been defined. Several anomalous magnetic targets warranting immediate ground investigation have also been identified.

Olympic Dam type FeO-Cu-Au-REE-U: A sericitised Hiltaba suite type granite, with chlorite and locally brecciated and flooded by hematite has been drilled in an area adjacent to the layered complex. The drill target was a 2,500 nanotesla magnetic anomaly. The granite was encountered at 130m below surface. The source of the intense magnetic anomaly magnetic was not explained. The combination of features indicates an untested Olympic Dam-type target.

Kimberlites: A series of apparently undrilled, isolated, "bulls-eye" magnetic anomalies adjacent to the layered complex are considered to be possible indications of kimberlitic intrusions.

Wynbring - Gawler Craton

The Wynbring project (EL 4403) covers an area of some 1,967km2 and is located in the western Gawler Craton about 160km northwest of Ceduna in South Australia. The tenement is held by PlatSearch NL and operated by Bemax Resources under a joint venture agreement. Result SnapshotRe-sampling of drill cuttings from a regional South Australian Government drill program has highlighted the potential for mineral sands within the southern portion of the area. Evidence for this prospectivity can be seen in Iluka Resources Mohave mineral sand discovery immediately south of the PlatSearch tenement boundary. Furthermore iron ore prospectivity exits at four prospect areas within the northern portion of the licence. The western Gawler Craton is interpreted to have untested potential for magmatic Cu-Ni sulphide mineralisation. It may also host platinum-PGE, Olympic Dam style of mineralisation (copper), kimberlite targets (diamonds), and BIF and supergene hematite iron potential. Mineral sand strand lines (part of the younger Eucla Basin) are also present in the tenement.

Tinman - Lachlan Orogen

Tinman (EL 7076) is located in the southern Lachlan Orogen about 300km north of Sydney on the mid north coast of NSW. Exploration is by PlatSearch NL. Although limited, narrow diameter air core drilling conducted by PlatSearch failed to define anomalous alluvial tin or gold values in fire assays of composite samples, tin may be present in other coarse fractions or in other un-drilled portions of palaeochannels. The areas drilled were found to be highly prospective for shallow detrital iron deposits with limited sampling indicating that simple processing results in a magnetic concentrate grading at least 47% Fe from some channel areas.

Dunmore and Tomingley - Lachlan Orogen

Dunmore (EL 6473) is located west of the town of Peak Hill and Tomingley (EL 6474) located west of the town of Tomingley in central NSW. Exploration is by PlatSearch NL. PlatSearch has completed a high resolution airborne magnetic survey at 80m spacing and with 40m terrain clearance and drilled 3,389m of aircore drilling in 64 holes. Numerous anomalous gold intersections were discovered in coincidence with porphyry intrusives, with the 4m composite value of 0.27 g/t Au in TR 033 (76-77m), typical of intersections. The Dunmore area also contains results of up to 1m at 12.9 g/t at the TRE prospect in a geological environment similar to the nearby Peak Hill gold mine.

Bedrock - Lachlan Orogen

The Bedrock tenement (EL 7401) is located in the central Lachlan Orogen, about 300km west of Sydney. Exploration is by PlatSearch NL. Anomalous gold values in surface geochemistry associated with brecciated, silicified and limonitic chert units over a “bullseye” magnetic anomaly, may represent a leached silica cap above a “blind” epithermal system, driven by a mineralising intrusive. Potential exists for gold mineralisation in high-grade epithermal vein systems, supported by the existence of old workings with relatively significant past production.

Ghost Rider - Lachlan Orogen

The Ghost Rider (ELs 7493-7496) project area is located west of Cobar in central western NSW. Exploration is targeting possible equivalents of the Wonawinta MVT mineralisation. Exploration is by PlatSearch NL. Large, greater than 1000ppm lead in soil anomaly open to the north, with geological similarities to the Wonawinta mineralisation, assay values in RAB drilling up to 1.15% Pb, 0.22% Zn, 0.12% Cu and 25g/t Ag.

Horsecreek - Mt Isa Province

Horse Creek (EPM13304) is located about 300 km southeast of Mount Isa in northwest Queensland. Project manager Red Metal Ltd has recently withdrawn from the joint venture. JV Partner, Red Metal drilled four diamond core holes on the regionally significant Elizabeth Springs magnetic/gravity targets including one hole on EPM 13304. These magnetic targets are some of the largest amplitude magnetic anomalies in the Mount Isa Inlier. Three of the four holes intersected broad zones of intense pyrite alteration with associated weak copper mineralisation which is typical of an alteration halo surrounding a mineralised iron-oxide copper system.

Lilleyvale - Mt Isa Province

Lilleyvale (EPM12115) is located in northwest Queensland about 140km east of Boulia and 220km west-northwest of Winton. Most recent drilling at Lilleyvale IOCG target included two holes by then JV partner, WCP Resources intersected further intensely skarn-altered rocks. Results of 4m @ 0.22% Au confirmed previous drilling, indicating that the mineralised system tested is very large, but to date, assays have been sub-economic. Further drilling is required.

Kempsey - New England Orogen

Kempsey (EL 6813) is located in the southern New England Orogen about 300km north of Sydney on the mid north coast of NSW. Exploration is by PlatSearch NL. At Willi Willi, numerous ore grade intersections (such as 0.4m @ 1.77% Cu, 0.87% Pb, 12.35% Zn, 217g/t Ag, 0.14% Sn from 14m) occur within a mineralised system interpreted to be a replacement skarn. The areal extent of the strongest mineralisation extends about 500m north – south and about 270m east – west at its widest in the centre of the prospect, covering about 11.5ha. This envelope was used by CRAE to estimate a resource of about 5M tonnes @ 0.17% Sn. At Mt Jacob a 1,000m x 600m gold-in-soil anomaly has been percussion drilled to a maximum depth of 90m vertically with all drill holes intersecting broad zones grading better than 0.10 g/t Au. The area is interpreted to be a collapse caldera with drilling to date not considered deep enough to intersect the mineralising intrusive.

Gundle - New England Orogen

Gundle (EL 6932) is located in the southern New England Orogen about 300km north of Sydney on the mid north coast of NSW. Exploration is by PlatSearch NL. Result Snapshot:

* 7.6m @ 0.31% Sn and 0.34% Cu from 24.4m in DDH-1 at the Gundle Tin Field
* 5.5m @ 0.35% Sn from 39m in GEPD7 at the Glen Esk Prospect
* 2.9m @ 0.69%, 1.51% Zn from 35.98m in DDH-MC1 at the Mortons Creek Prospect
* assays of 6.4%, Cu, 2.59% Pb, 1.04% Zn, 4,300ppm Ag in rock chip sampling at the Bellangry Prospect.

Mine For

iron ore, lead, zinc, silver, copper, gold, uranium, nickel

Location of operation(s)

New South Wales, South Australia, Queensland

Address

Level 1 , 80 Chandos Street
ST LEONARDS, NSW, AUSTRALIA

Phone

(02) 9906 5220

Email

Website

http://www.platsearch.com.au/

Last Updated

28/02/2011