Cue General & Cue Mindoolah
The Company currently has an option to earn an interest in the various tenements which make up this project. Refer to section 10.4 for details of the material contracts.
A combined acreage of 354 square kilometres held within four pending Exploration Licences in an area suspected of hosting Day Dawn style gold mineralisation. The target of exploration is based on interpretation of the multi-client airborne geophysical data combined with reconnaissance ground truth follow up. Gold mineralisation is suspected to be located at or near the granite-greenstone contacts where substantial structures such as shear zones can be identified from interpretation of aeromagnetic data. Follow up exploration will comprise regional soil geochemistry, trenching of anomalies discovered and angled RAB percussion drilling of these anomalies.
Killara
(100% Fairstar)
These tenements have been applied for in the name of the Company. No exploration work will be able to be carried out until such time as the tenements are granted. These tenements are prospective for uranium. Refer to section 8.12 of the prospectus which sets out the specific risks associated with the Company and in particular associated with uranium exploration.
A total of 392 square kilometres of ground has been applied for under two pending exploration licences in an area considered to contain potential for carbonate hosted lead mineralisation.
Reconnaissance drainage sediment geochemistry, over the area under application, has returned anomalous uranium and tungsten values.
Fairstar's exploration program for these licences comprises a full data review of all existing old data with acquisition and interpretation of enhanced multi-client airborne geophysical data. This will be followed by a regional soil geochemistry program and trenching of combined geochemical and geophysical anomalies, once the tenements have been granted.
