core sector communique

LITTLE EVA TURNS ONE HUNDRED

The Little Eva Resource has increased to 108 million tonnes at 0.52% copper, 0.09g/t gold, for 564,000 tonnes of contained copper and 305,000 ounces of contained gold Altona Mining Limited (Altona) today announced a  further  resource upgrade for the 100%-owned Roseby Project in Queensland, Australia.

Global Resource:

The global resource estimate for the Roseby Project has increased to:

210 million  tonnes at 0.6% copper and 0.06g/t gold for 1.2 million tonnes of copper and 395,000 ounces of gold. This compares to 177 million tonnes at 0.6% copper and 0.06g/t gold in the previous estimate of 26 July 2011.

Little Eva Resource:

The prior estimate for Little Eva was 74.7 million tonnes at 0.52% copper and 0.06g/t gold above a 0.2% cut-off grade. The revised Little Eva resource is:

108 million tonnes at 0.52% copper and 0.09g/t gold for  564,000 tonnes of copper and 305,000 ounces of gold above a cut-off grade of 0.2% copper Some  63% of this estimate is in the Measured and Indicated categories.  The new estimate is detailed in the attached tables and appendices.  This resource upgrade is the final upgrade for Little Eva after the completion of 21,085m of RC drilling and 2,041m of diamond drilling at Little Eva this field season, resulting in the contained copper metal more than doubling. Total RC drilling at Little Eva is 64,256m and total diamond drilling 12,270m.  The deposit was drilled to depths of 250–300m, is steeply dipping, is 1.3km long and ranges from 20–400m wide. Little Eva is now a significant mineral deposit containing some 560,000 tonnes of copper equivalent metal.Little Eva is a typical IOCG (iron-oxide copper-gold) deposit. It is a large and simple bulk tonnage copper-gold  sulphide deposit which has excellent metallurgical recoveries of copper (96%) and gold (90%) to concentrate. Processing will be via an industry standard flotation plant to produce a copper-gold sulphide concentrate. A 15–30m thick cap of oxide copper mineralisation (goethite, malachite, etc) overlies primary mineralisation (feldspar-quartz- hematite-carbonate-chalcopyrite).

Recovery of copper from oxide ore is being investigated via AmmLeach® Technology.The increase in the  resource estimate is largely due to the extension of prior boundaries to the west and at the base of the resource. The resource has been reported at a 0.2% copper cut-off after geological boundary analysis and consideration of marginal costs indicated that this was appropriate. A tabulation of the Resource at a 0.3% copper cut-off grade has been provided to allow comparison with prior estimates.AOH0260 2.

Little Eva is also the stage name of Eva Boyd, the singer with the number one American hit in 1962, The Loco-Motion.