TRUSCOTT MINING CORPORATION LIMITED - ASX: TRM

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Description

Truscott Mining Corporation Limited is an exploration company that is focussed on becoming a poly-metallic producer in the historically proven region of Tennant Creek, Northern Territory.

The region of Tennant Creek has produced over 5.5 million ounces of gold at a very high average recovered grade of 19g/t Au, together with significant copper, bismuth and silver. Successful historical producers have shown that high grade ore production at moderate tonnage was sustained over 10 to 20 year time frames.

Strategic Initiatives

* An in-house structural model in conjunction with traditional exploration methods has been utilised to further enhance Truscott's understanding of the Tennant Creek Mineral Field at all scales.
* Truscott's exploration projects (100% holding) are within 25 km's of the Tennant Creek Township. The projects are at varying degrees of maturity and are considered to have the potential to meet the company's objectives of being long term producers.

Westminster Project Status

* The collective tonnage potential of the 1.5 kilometre intensely mineralised strike is considered to be of the same order of magnitude as the successful major historical producers - circa 3 million tonnes plus.
* A poly-metallic system of high aggregate value contained within mineralised shoots that demonstrate down plunge continuity exceeding 200 metres and remaining open at depth. Gold is expected to be the major economic driver, with significant credits from other metals.
* Maximum assays for intersections within the 1.5km mineralised strike length for one metre sample increments include:

- Precious Metals: Gold (Au 167g/t, 5.36 oz/t), Silver (Ag 685g/t, 22.02 oz/t)
- Speciality Metals: Molybdenum (Mo 6110g/t), Bismuth (Bi 2830g/t)
- Base Metals : Copper (1.5m @ 5.4% Cu), Lead (13.7% Pb), Zinc (5.3% Zn)

Corporate Initiatives

* Truscott provides leverage to exploration success through an aggressive exploration programme and tight capital structure (57.5 million shares on issue).
* It is estimated that up to $AUD 9 million will be required to drill out and plan for the development of the full Westminster project. The future introduction of a Joint Venture partner is considered appropriate to minimise share issuance.

Mine For

copper, gold, silver, molybdenum, bismuth, copper, lead, zinc

Location of operation(s)

Northern Territory, Western Australia

Address

13 Colin Street
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 9327 7300

Email

Website

http://www.truscottmining.com.au

Last Updated

20/02/2011