Admiralty Resources NL engages in the exploration and development of mineral deposits. The company’s principal activities are the mining evaporates in Argentina and iron ore in Chile. The company’s business consists of five separate projects based in Australia and South America. The company focuses on the development of its two major mining interests in Chile (Cia Minera Santa Barbara) and Argentina (Rincon Salar). Properties Cia Minera Santa Barbara Iron Ore Project - Chile The company has acquired a 49% interest in Cia Minera Santa Barbara, a company formed to exploit the iron ore resources located near Vallenar in Chile. Cia Minera Santa Barbara owns and would operate nine existing iron ore mine sites containing alluvial, hard rock (vein) and stockpiled iron ore fines. The Cia Minera Santa Barbara mines are located in Northern Chile seven kilometres south west of Vallenar and 55 kilometres from the commercial port of Huasco Bay. The mines cover an area in excess of 19 square kilometers. The nine mines have a resource of approximately 41 million tonnes of iron ore with an Fe content averaging between 60% and 67%. Approximately 2.2 million tonnes of iron ore fines are stockpiled at the Japonesa site and a further 0.8 million tonnes at Mirador. Rincon Salar Lithium, Borate and other minerals - Argentina The Rincon Salar tenements cover an area of approximately 250 square kilometres. This is a major multi-elemental brine resource, located in the Salta Province of Argentina and close to two of the producers of lithium and potassium in the world. The Rincon Project is located in north-western Argentina near the Chilean border. It is a hyper saline lake, brine enriched in lithium, magnesium, potash, and boron. The project is situated at an elevation of 3,700 metres within the Antofalla-Pocitos volcanic rift valley in the high Andean Plains. This ponded evaporate deposit is estimated to contain a recoverable brine tonnage of 1.45 billion within a closed basin area and to a depth of 60 metres. Main resources to be extracted are: Lithium chloride, Potassium Chloride, Sodium Sulphate, and Boric Acid and Borates. The Pyke Hill Project The Pyke Hill Project in Western Australia comprises a single granted Mining Lease which covers an area of 5.37 square kilometre. The project is located approximately 40km southeast of the Murrin Murrin Nickel Operation operated by Minara Resources Limited and is considered prospective for a high grade nickel laterite deposit. The company has a joint venture option agreement in place with Cougar Metals NL (Cougar). The Pyke Hill Project has the potential to contain shallow to moderate depth zones of high-grade nickel-cobalt laterite mineralization. The Bulman Project The Bulman Project is a Zinc and Lead oxide deposit located in southern Arnhem land in Australia's Northern Territory. The company holds mineral Lease Numbers 726 and 727 (Marumba) form the Bulman zinc and lead Project through wholly owned subsidiary Moonlight Mining NL. The company has an Exploration License Application (21384) for 637 sq kilometers of land that includes MLN 726 and 727. Nilnav Orthopaedics The company holds 10% interest in Nilnav Orthopaedics, which offers a surgical technique and patented toolset for minimally invasive, ‘one-cut’ incision hip replacements.
admiralty resources nl
(ADY:Australian Stock Exchange Ltd)
87-89 Liverpool Street
Sydney, NSW 2000
Phone: 61 2 9283 6502
Fax: 61 1300 329 239www.ady.com.au
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