ABC Broken Hill (Broken Hill)

7 February 2011

08:30 News – 07/02/2011 – 08:31 AM

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Program Manager Mr Andrew Schmidt 08 8082 4031

Broken Hill Prospecting has secured sufficient funding to allow it to further assess its Thackaringa Mining Tenement, 25km south west of Broken Hill. The initial public offering has closed with a total of $4.47m raised. Geoff Hill, Director, Broken Hill Prospecting says this money will allow the company to complete a pre-feasibility study on two of their cobalt deposits and the 13 base metal prospects on their tenement more efficiently. Hill says the total cobalt mineral resources have been estimated at 15m tonnes. The company announced in December last year that drilling at two other prospects in the same area had encountered strong copper, lead and zinc results.