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Grays Hill Project (Queensland)

Exploration Permit for Minerals (EPM) 25117 Grays Hill, covering 272km2, has been applied for over an area in central Queensland which is prospective for both porphyry copper/molybdenum mineralisation and possible heavy mineral sands mineralisation.

The project area lies to the south of known heavy mineral sand deposits in the region and is located about 45km northeast of Rockhampton. Previously subject to exploration during the 1960's, 70's and 80's, little, if any, exploration has been undertaken in the region since 1985.

Mineral Sands

A prominent basement lineament (which may have once been a shoreline) sits at +20m above sea level for a length of approximately 8km in a north south direction and 6km inland from the present coast. The zone is deemed prospective for the development of heavy mineral sand concentrations and is expected to be drill tested using the Company's own air core drilling rig once the tenement is granted.

The Wasp Porphyry Prospect

The Wasp Porphyry Prospect, discovered in 1969 and intermittently explored until 1985, lies immediately behind the basement lineament described above. Although this prospect has been subject to previous geochemical sampling, geophysics and drilling it remains prospective for porphyry style mineralisation using modern exploration techniques. With low grade mineral intersections reported from drilling by Kennecott Explorations (Australia) Pty Ltd (five diamond and 21 reverse circulation drillholes) and Oremco (Aust) Pty Ltd (nine diamond drill holes) further testing is warranted over this prospect along with other prospects in the region. The sulphide mineralisation covers an area of 10km2 with mineralisation associated with a poorly exposed granodiorite stock and numerous related breccia pipes.

To date, mineralisation consists of massive to disseminated pyrite and locally enriched sulphide along fracture zones. Chalcopyrite (copper), galena (lead) and sphalerite (zinc) are also present within fracture zones.

Through information research and high level remote sensing data reviews, Diatreme has been able to identify valid porphyry copper / molybdenum systems and considers the Wasp Porphyry Prospect to have the potential to host a large economical mineralised system.

Upon tenement grant, exploration will commence on both the mineral sands targets and porphyry copper along with regional exploration throughout the remainder of the tenement.


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