Warroo-EPM 13831
HIGHLIGHTS

• Located in the Texas block in SE Qld.
• Target is large scale intrusive related or thermal aureole gold and gold copper deposits of the porphyry or Cadia style.
• Interpretation of magnetics, radiometrics and digital terrain modelling have detected linear and alliptical structures.
• Geological mapping and geochemical sampling has defined extensive previously undetected host rocks and encouraging gold traces.
• QGM proposes to carry out geological mapping, soil sampling, ground magnetics, radiometrics together with rock chip sampling of outcrop and backhoe trenches and some stream sediment sampling.
• QGM will also carry out IP or EM geophysical surveys to define mineralised zones lying under cover, with diamond drilling if appropriate based on previous exploration work
• During the June quarter Oxiana completed 5 holes each in excess of 300m on various targets in the Warroo mine area.  The holes were directed at coincident geochemical and geophysical features that in most cases were related to known zones of alteration and mineralisation.  Results are awaited

The Texas Block, like the Georgetown Block, is considered to have potential for intrusive-related or thermal aureole gold deposits although no large resources are known. Advanced exploration and resource definition by Macmin Limited has defined some 35 million ounces of Ag on the Silver Spur project, 25 kilometres to the south, which has the characteristics of an Intrusive-related system albeit silver rich.

Oxiana Limited has entered a joint venture and are committed to a $0.5M expenditure in 2006, with the right to earn 80% by expenditure of $4M. Their September Quarterly Report announced the following:

"In south east Queensland, the ongoing field program involving geological mapping, rock chip, soil and drainage sampling around known and new prospects provided highly encouraging results. Rock chips assaying between 3 – 30g/t gold were collected in an area not previously sampled to the southwest of the historic workings and mapping indicates alteration to be more extensive than initially anticipated. 

Results from recent soil geochemical sampling and geophysical surveys are being compiled to prioritise drill targets."

Regional magnetics with overlay of radiometric potassium-channel anomalies	Digital terrain model with overlay of radiometric potassium-channel anomalies	Regional radiometric potassium-channel anomalies and structure interpretation
Regional geophysics interpretive map	3D magnetic model - plan view	3D magnetic model - oblique block model view
Warroo open pit showing shallow-dipping thrust fault planes	Warroo pit with altered slates and shallow-dipping thrust fault planes	South of Warroo pit looking north from recessive Silver Spur beds
Ashton gold-bearing brecciated Silver Spur Beds outcrop	Ashton-Angus Valley Zone geology and sampling grid	Ashton gold-bearing brecciated Silver Spur Beds specimen