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Western Australia – Mt Elvire Project

Aquila holds the rights to minerals other than iron ore and diamonds over 32 exploration tenements covering an area of 5,545 sq km in the Pilbara region of Western Australia. The API JV acquired the tenement package from De Beers in early 2006.

The Mt Elvire Project (view 18) tenements are at an early exploration stage with no significant previous exploration or reported occurrences of minerals other than iron or diamonds. Aquila’s exploration objective is to identify targets within the tenement package prospective for the discovery of a stand alone mineral deposit. The commodities targeted include manganese, gold, silver, uranium and base metals.

The Mt Elvire Project covers a large area of poorly accessible and remote Lower Proterozoic stratigraphy in the north Hamersley – West Pilbara region. A program of data compilation and targeted remote sensing studies has been initiated. In addition and as part of the agreement with De Beers, Aquila has access to approximately 1100 stream sediment samples collected but not analysed during diamond exploration activities. These samples and a lesser number of partially analysed samples represent a significant untapped resource of information and an early objective is to assay these samples and interpret the results.