The Princhester Magnesite Project is located 85km north west of Rockhampton, Queensland and comprises two granted Mining Leases (ML), ML5831 and ML5832. The ML’s are close to the Bruce Highway and are within 2 kilometres of the main north coast railway line.

During the March quarter the Company completed a reconnaissance field visit to the Princhester project.  The objective of the visit was to confirm historic information and provide confidence in the database and geological interpretation.  In addition, the environmental impact of historic work was assessed and it was noted that the impact of the historic drilling has reduced through natural revegetation.

The Company is continuing to review the Princhester project Magnesite mineral resource and is assessing opportunities to further expand and define the zone of mineralisation. As stated in the previous Quarterly report the geological review confirms the presence of magnesite mineralisation.

Figure: Location of Princhester Project, Queensland