Balama South Project

The Balama South Project is located approximately 35 km south of the Balama township within the same north-east trending geological domain covered by the Balama North project which hosts the Cobra Plains deposit and the Nicanda Hill prospect.

To date, only limited exploration activities have been completed on the Balama South project. The major activity being a helicopter-borne geophysical survey of VTEM Plus (Full-Waveform) and magnetic gradiometer (VTEM Survey).

The Company believes that the Balama South project is highly prospective for graphitic mineralisation so further exploration programs are planned for the Balama South project to test anomalies identified through the VTEM Survey. It is hoped that in the medium to long term the Balama South project will be able to be integrated into the Balama North and Ancuabe projects as identified by the integrated development concept plan.