HERRIES RANGE GOLD PROJECT

 The Herries Range Project covers 600km² within the Traprock Region of south-east Queensland and is well located with the Cunningham Highway passing through the northern part and the New England Highway traversing in close proximity down the eastern side of the project area. The regional centre of Warwick is 40 km northeast and Stanthorpe 25 km east of the project. The project is within 18km of the Warroo Gold Copper Project.

 

 The Company chose the Herries Range area due to the characteristic style of gold mineralisation, rock types and structural framework which had a marked similarity to the central Asian large gold deposits, Australia's Fosterville Gold Mine and New Zealand's Reefton Goldfield. The project contains a number known gold fields and is an area that is seriously under explored with only five previous shallow dill holes targeting gold mineralisation within the tenement. The Herries Range Project is encompassed by the Carboniferous Texas Beds, metamorphosed sedimentary rocks of the New England Fold Belt, which have been intensely deformed, with west-north west trending fault zones. Locally east trending structures have proved prospective for gold mineralisation.

 The project area hosts 63 historical hard rock gold mines, of which the bulk mined “bonanza” grade (>2 ounces per tonne gold). Only high grade gold was mined, and in some cases only ore with visible gold was despatched for crushing, the rest discarded to the mullock dumps as the distances to a suitable crushing battery along with treatment costs were prohibitive in the latter part of the 1800's. As the mining across the fields progressed deeper through the oxide zones, they encountered the sulphidic pyrite rich primary zone, generally at 30 to 40 metres depth, where the gold was locked up in the pyrites and was difficult to recover with the treatment plants of the day. The nearest facilities for treatment of pyritic gold ore was in Brisbane and Maryborough, resulting in a high impost on transport costs.

 The gold mineralisation is related to the pyrite, which is disseminated through the favourable fractured sedimentary rocks, in larger shears and minor multiple quartz veins. Over geological time these gold pyrite rocks eroded and weathered and in the process distributed alluvial gold deposits over a large area.

 Today there are over 100 linear kilometres of alluvial gold workings within the tenements in the 40 x 20 km prospective zone. Most of the hard rock sources have not been identified and cannot be attributed to the existing mines, as the bulk of the alluvial workings have no hard-rock mines located near them. Traprock is of the belief that most of the alluvial gold is derived from underlying disseminated oxidised pyritic gold mineralisation, hosted by sedimentary rocks such as pyritic black slates, shales and greywackes. The largest alluvial gold “run” was at Canal Creek in the north-west of the project area, with an estimated 20,000 ounces gold recovered by the historical alluvial miners. Today there are modern mechanised alluvial gold operations and a host of metal detector operators recovering gold in the area. No hard-rock source has been identified for these extensive alluvial workings.

Traprock has been exploring on the Herries Range Project for two years and in the process has identified six drill targets and delineated seven prospective zones along the 40 km strike of the of the gold belt. There are more historical gold mines within this zone that are yet to be examined by Traprock and will no doubt return further targets for exploration (a fuller description of these drill targets and prospective zones can be reviewed in the Independent Geologist’s Report section of the Prospectus ).

PLAN OF OPERATIONS

 Traprock intends to initiate drilling programs over the six delineated drill targets immediately post listing. These comprise the historical:

 1. Mountain Maid gold mine

 2. Kaffir Chief gold mine

 3. Telegraph gold mine

 4. Blackfellow gold mine

 5. Providence gold mine cluster

 6. Source for the Canal Creek alluvial gold field

 

 Traprock will also conduct geological field and geochemical soil sampling surveys over the following prospective zones:

 1. Palgrave Goldfield - Mountain Maid - Madam Ross Telegraph zone

 2. Pikedale Goldfield - Kaffir Chief and Star of the East mine cluster

 3. Providence-Mount Robertson - Car Park mine cluster

 4. Camp Hill- Rabbit Fence - Whinge Hill zone 5. Puddler - Hunts Gully - Mascot mine cluster 6. Hunters Gully - Mount Burrabaranga zone 7. Durikai zone

 The balance of the project area, which host many historical mines and alluvial workings, will be followed up and explored sequentially over time.