ABC Broken Hill (Broken Hill)

7 February 2011

07:30 News – 07/02/2011 – 07:32 AM

Newsreader

Program Manager Mr Andrew Schmidt 08 8082 4031

Broken Hill Prospecting has received funding to explore the possibility of mineral deposits at the Thackaringa Mining Tenement. The company has raised $4.47m to assess the mining tenement, 25km south west of Broken Hill with the initial public offering now closed. Geoff Hill, Director, Broken Hill Prospecting says the funding weill enable the completion of a pre-feasibility study on two of their cobalt deposits and quickly access 13 base metal prospects on their tenements. He says total cobalt mineral resources have been estimated at 15m tonnes. The company announced in December last year that drilling at the two other prospects in the same area have encountered strong lead, zinc and copper results. Results of a follow up drilling program are expected in March.