Prospectus - Kingsrose Mining

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Section 1 Investment Summary 5. Project Geology (after Collins 2003, Swager 1994) 5.1 Ora Banda Sequence at Comet Vale Mafic-ultramafic volcanic rocks in the Comet Vale area are a continuation of the lower part of the Ora Banda Sequence, though generally with reduced thickness. The mafic-ultramafic volcanics at Comet Vale is divided into three formations that are correlated with the Missouri Basalt, Walter Williams Formation and Siberia Komatiite. Only the Missouri Basalt and Walter Williams Formations outcrop in the vicinity of and along strike from the Sand Queen – Gladsome mine. The Wongi Basalt at the base of the Ora Banda Sequence is not apparent as outcrop within the project area, however younger formations may underlie the eastern part of the project area. The Missouri Basalt is the basal formation in the Comet Vale area consists of massive, fine to medium-grained metabasalt having a possible thickness in the vicinity of 500-1000m. The Missouri Basalt is conformably overlain to the east by ultramafic rocks of the Walter Williams Formation (Table 2). The Missouri Basalt may be divided into two distinct units, the upper and lower basalt. The boundary between them being about 200m below (and structurally above) the boundary of the Walter Williams Formation (Holla 2001). The Walter Williams Formation is dominated by serpentenised dunite and minor peridotite that outcrop east of the Goldfields Highway. The boundary between the Missouri Basalt and Walter Williams Formation appears to be a zone of shearing in talc-carbonate-chlorite altered ultramafics. 5.2 Granitic Rocks There are two granitoids within the Comet Vale area. 1. The Goongarrie Monzogranite forming the western margin of the Menzies Greenstone belt and underlying the western part of the project area. 2. The Comet Vale Monzogranite, is a late tectonic granitoid that has intruded the greenstone belt intersecting the eastern margin of the Googarrie Monzogranite. This granitoid is circular in shape and truncates the mafic-ultramafic volcanic sequence in the northern part of the project area. The basaltic sequence has been intruded by several narrow porphyry dykes (or sills) that are generally subparallel to the stratigraphy. Most of these porphyry dykes occur at the top of the Missouri Basalt within some 60m of its boundary with the overlying Walter Williams Formation, however some narrow dykes occur in the Walter Williams Formation. 5.3 Structural Geology Comet Vale is on the western limb of the regional-scale north-south trending. Googarrie-Mt Pleasant anticline. The Googarrie Monzogranite is in the core of this south-plunging anticline, enclosed by rocks of the Ora Banda Domain. The mafic-ultramafic rocks of the Comet Vale Area are therefore part of the same sequence that is host to the Grants Patch, Ora Banda and Mt Pleasant gold mining centres on the southern and western limbs of this anticline (Figure 4). Close to its southern margin emplacement of the late-tectonic Comet Vale Monzogranite has caused distortion of the Missouri Basalt and Walter Williams Formation from a NNW-SSE trend to a more NW-SE trend. The Siberia komatiite appears to have been deflected in the opposite direction resulting in a NE-SW trend. Emplacement of the monzogranite appears to have been accommodated by faults and shear zones that are subparallel to the contact between the granitoid and the greenstone belt. These WNW-ESE-trending structures host some of the smaller gold deposits in the Comet Vale area, namely the Happy Jack, Lake View and Lady Margaret mines (Witt, 1990). In contrast, the largest gold deposit at Comet Vale, the Sand Queen-Gladsome mine, occurs in a NNW-SSE trending, steeply-west dipping structure which is sub-parallel to the boundary between the Missouri Basalt and Walter Williams Formation. Although the exact nature of this structure is not known it is not thought to be related to the emplacement of the Comet Vale Monzogranite. Page 24
6. Past Exploration up to 1998 The initial discovery of gold in the area was made in 1893 with gold mining continuing in the Comet Vale area until the early 1900’s. Between 1935 and 1936, the West Australian Department of Mines carried out surface and underground drilling in an attempt to locate extensions or additions to the Comet Vale lode, however no significant gold intersections were reported. In 1965, Western <strong>Mining</strong> Corporation Ltd (“WMC”) explored the ultramafic successions to the east of the Comet Vale Lode for nickel mineralisation, there are no records of their exploration results. Between 1970 and 1985, the Comet Vale project was investigated by Minplex Resources Ltd on behalf of a consortium comprising Valiant Consolidated Ltd., Queen Margaret Gold Mines NL and Spargos Exploration NL. During this period both ground and airborne magnetic surveys were carried out, together with the drilling of 251 RAB and 10 RC holes. Between 1986 and 1988, Aberfoyle carried out a program of geochemical sampling, RAB and RC drilling, over projected extensions of the Comet Vale lode and Happy Jack Lake View shears. During the 1980’s, Conex explored a group of mineral claims surrounding the Lady Margaret and Lady Mack gold workings. A total of 21 RAB holes were Figure 4. Structural Geology drilled. Also during the 1980’s, Delta Gold NL and JV partner BP Minerals Australia Pty Ltd drilled 94 holes over several prospecting licences west of the project area (south of Coonega) and northeast of the main Comet Vale mine leases. Delta Gold also completed 19 follow-up RAB holes. The results of this work are not known. Between 1985 and 1988, Hill Minerals NL evaluated the Coonega mine workings, completing 32 RC drill holes and one diamond drill hole. Between 1988 and 1989; and 1991 to 1993, Valiant Consolidated Limited completed six diamond drill holes and five wedges to evaluate the main Comet Vale lode in the vicinity of the Sand Queen-Gladsome mine. Between 1989 and 1991, Ashton Gold (WA) Ltd explored the Comet Vale lode at the Sand Queen – Gladsome mine completing ground magnetics and a geochemical survey. Eight RC and one deep diamond drill hole were completed. Between 1993 and 1998, Destra Corporation Ltd completed 115 RAB holes to the north of the project area, 148 RAB holes surrounding the Coonega deposit, 6 RC holes over the Coonega East gold workings, northeast of the Sand Queen mine, 6 RC holes along projected extensions of the Comet Vale lode, 39 RC holes north Page 25
Page 1 and 2: Kingsrose Mining Limited ABN 49 112
Page 3 and 4: Table of Contents Section 1 Key Poi
Page 5 and 6: Section 2 Chairman’s Letter Dear
Page 7 and 8: Application of Proceeds at Full Sub
Page 9 and 10: 4.4 Application for Shares Applicat
Page 11 and 12: Section 5 Company and Project Overv
Page 13 and 14: Section 6 Directors and Corporate G
Page 15 and 16: As the Company’s activities devel
Page 17 and 18: Additionally, tenements are subject
Page 19 and 20: Potential Acquisitions As part of i
Page 21 and 22: In addition, GIPL made independent
Page 23 and 24: Figure 2. Regional Geology 1. Intro
Page 25: Figure 3. Project Geology and Tenem
Page 29 and 30: 1. Proving up gold resources to the
Page 31 and 32: Table 3. Significant Results The su
Page 33 and 34: Holla, L.A., 2001. Geological setti
Page 35 and 36: Conduits Conglomerate Country rock
Page 37 and 38: Lava Limestone Lineament Lithologic
Page 39 and 40: Stockwork Stratabound Stratigraphy
Page 41 and 42: Under the terms of an asset sale ag
Page 43 and 44: APPENDIX 1 ASSETS BEING ACQUIRED AN
Page 45 and 46: To be read in conjunction with the
Page 47 and 48: APPENDIX 2 STATEMENT OF CASH FLOWS
Page 49 and 50: (b) (c) (d) (e) (f) (g) Income tax
Page 51 and 52: Unaudited Proforma 31 August 2007 U
Page 53 and 54: $ $ 10. CONVERTIBLE NOTES - UNSECUR
Page 55 and 56: 2.1 Western Australia Tenements in
Page 57 and 58: included a revised threshold test f
Page 59 and 60: • Compensation may have to be agr
Page 61 and 62: Notes: 1. The tenement is subject t
Page 63 and 64: expenditure will be borne by the pa
Page 65 and 66: Section 12 Additional Information 1
Page 67 and 68: Rights on Winding Up Subject to the
Page 69 and 70: Early Redemption by Noteholder The
Page 71 and 72: Section 13 Director’s Responsibil
Page 73 and 74: Application This Application Form r
Page 75 and 76: Application This Application Form r
Page 77 and 78:
Airleg miner boring a level drive f
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Prospectus - Kingsrose Mining

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