Annual General Meeting 2009 - Nex Metals Explorations Ltd

Tom Percy, Chairman

Activities over the past 12 months

Kept exploring, consolidating and pruning Australian tenement package.
26th February 2009 - Nex Metals farms in on the Yundamindera Gold Project.
- Nex can earn 70% by spending $1.5M in expenditure over a 3 year period.
- The project has a small robust resource at the Landed at Last prospect of 79,000 ounces of gold at a 0.6g/t cutoff.

Yundamindera Salient Features

Strong historical production figures 79,000 ounces of gold produced @ 19 g/t.
79,000 ounces of gold in JORC compliant resource estimations no modern mining
mineralisation occurring on and near surface
a large dataset of 1777 drillholes containing 43,000 assays
close spaced drilling from 10 x 10m to 20m x 20m
initial favourable Kappes Cassady & Assoc. (expert metallurgical consultants)
heap leach test work
SOG pit optimisations and cost analysis
the fact that the project has not been re-optimised since the gold price has more than tripled.

Nex started the process to explore and bring this project to a mining stage, drilling assaying and surveying and working with consultant engineers to provide a pit design with treatment and scheduling options on the existing well defined gold mineralisation.

The Yundamindera Gold Project is an exciting project that any junior explorer would gladly and proudly espouse to its shareholders, however on the 10th of June Nex Metals pursued and landed arguably one of the deals of the decade.

10th June 2009 - Nex Metals acquires 100% of the Kookynie Gold Project from FMR resources for $150,000 and 7.8million shares.

Salient Points:

A total of 12 historical gold estimates provide a (non-JORC) 424,600 ounce gold endowment with most requiring minimal work to upgrade them to JORC compliant status.
A drilling dataset of approximately 17,000 drillholes with approximately 305,000 assays.
Free milling non refractory gold.
The Butterfly open pit mined to approximately 25 metres with a remnant 25 vertical metres of low strip ratio ore immediately available.
Granted tenements plans and permits for a 40 person camp. including recreation facilities.
Granted tenements, permits concrete foundations and much of a remnant 1M t/a CIP gold treatment plant, Haul roads', bore field and a tailings storage / disposal facility statutory requirements and permits.

Back
Next