ASX Announcement 14 January 2010 by lwk36704


									                                                                                     ASX Announcement
                                                                                       14 January 2010

                  Not for release or distribution in the United States                Cape Lambert is an Australian
                                                                                      domiciled,    mineral    investment
                                                                                      company. Its current investment
                                                                                      portfolio is geographically diverse
                                                                                      and consists of mineral assets and
          EXPLORATION DRILLING TO COMMENCE AT                                         interests in mining and exploration
                  LADY ANNIE PROJECT
                                                                                      The Company continues to focus on
                                                                                      investment in early stage resource
                                                                                      projects and companies, primarily in
                                                                                      iron ore, copper and gold. Its “hands
 Key Points:                                                                          on” approach is geared to add value
                                                                                      and position assets for development
       Exploration drilling to commence at the Lady Annie Project in                  and/or sale.

       late February 2010, with the first reverse circulation drill rig               The Board and management exhibit
       scheduled to arrive onsite on or about 24 February 2010,                       a strong track record of delivering
                                                                                      shareholder value.
       Initial focus is on upgrading and adding to the defined
       resources at the Mt Kelly Mining Area and Anthill-Python                       Australian Securities Exchange
       prospects,                                                                     Code: CFE

                                                                                      Ordinary shares
       Swick Mining Services Limited (ASX: SWK) awarded a two                         565,166,467
       year contract for surface exploration drilling services, and
                                                                                      Unlisted options (30 June 2010)
       Program comprises approximately 70,000 metres of reverse                       8,350,000
       circulation drilling and 10,000 metres of diamond drilling.
                                                                                      Unlisted options (31 Oct 2010)
 Australian resources and investment company, Cape Lambert Resources
 Limited (ASX: CFE) (“Cape Lambert” or the “Company”) is pleased to advise            Board of Directors
 that exploration drilling is due to commence at the Lady Annie Project in late       Tony Sage Executive Chairman
 February 2010, with the first reverse circulation (“RC”) drill rig scheduled to      Tim Turner Non-executive Director
                                                                                      Brian Maher Non-executive Director
 arrive at the project on or about 24 February 2010.
                                                                                      Eloise von Puttkammer
                                                                                      Company Secretary
 Swick Mining Services Ltd has been contracted to undertake exploration
 drilling services over a two year period at the Lady Annie Project, which is         Key Projects and Interests
 located 120km north of Mt Isa, Queensland (refer Figure 1).                          Lady Annie Copper Project
                                                                                      Marampa Iron Ore Project
                                                                                      Sappes Gold Project
 The two year exploration drilling program comprises approximately 70,000             DMC Mining Limited
 metres of RC drilling and 10,000 metres of diamond drilling (“DD”). The first        Corvette Resources Limited
 of 3 drill rigs, comprising two RC and one DD rig, will arrive at Lady Annie on
                                                                                      Cape Lambert Contact
 or about 24 February 2010 and will commence drilling shortly thereafter. The         Tony Sage
 second RC rig is scheduled to arrive in the second quarter 2010, and a               Executive Chairman
                                                                                      Phone: +61 8 9380 9555
 diamond rig in May 2010.
                                                                                      Australian Enquiries
 RC drilling will initially focus on upgrading and adding to the currently defined    Professional Public Relations
 resources at the Mt Kelly Mining Area, and upgrading and extending the               David Tasker
 defined resource at the Anthill – Python prospects, located to the south of the      Phone: +61 8 9388 0944
                                                                                      Mobile: +61 433 112 936
 Mt Kelly Process Plant (refer Figure 2). The scope of RC drilling will expand        Email:
 significantly with the arrival of the second RC rig, which will focus on testing
 highly prospective exploration targets on granted mining leases and                  UK Enquiries
 exploration permits within the project area.                                         Conduit Public Relations
                                                                                      Jos Simson
                                                                                      Phone: +44 (0)20 7429 6603
                                                                                      Mobile: +44 (0)7899 870 450

Cape Lambert Resources Limited      ABN 71 095 047 920
PO Box 144, West Perth Western Australia 6872  
Phone: +61 8 9380 9555 Facsimile: +61 8 9380 9666
                                                                                                     ASX Announcement
/                                                                                                      14 January 2010

    The Company is currently divesting its interest in the Lady Annie Project by way of an Initial Public
    Offering (“IPO”) of Q Copper Australia Limited. Patersons Securities Limited is the Lead Manager to
    the IPO. The indicative closing date of the IPO is 3 February 2010.

    Should you wish to participate in the IPO you can do so by completing the application form in the
    Supplementary Prospectus dated 14 December 2009, which should be read together with the
    Prospectus dated 16 November 2009. A copy of the Prospectus and the Supplementary Prospectus
    can be downloaded from the Q Copper website: Alternatively, you can call Mr
    Philippe Francois on (08) 9211 0600 to request a copy of the Prospectus and Supplementary
    Prospectus are mailed to you.

    “The award of the drilling contract prior to the listing of Q Copper is in line with the Company’s
    strategy of ensuring exploration commences at Lady Annie as early as possible to enable additional
    mine life to be crystallised,” said Cape Lambert Executive Chairman, Mr Tony Sage.

    Yours faithfully
    Cape Lambert Resources Limited

    Tony Sage
    Executive Chairman

    About Swick Mining:

     Swick Mining Services (ASX: SWK) is one of Australia’s largest mineral drilling contractors,
     providing high quality, high value underground and surface drilling services to a diverse group of
     mining houses in gold, iron ore, nickel, copper, lead, zinc and manganese. The Company has a
     strong reputation for innovation in rig design and drilling practices that delivers improvements in
     productivity, safety, versatility and value. Swick recently committed to expanding its operations
     outside of Australia and building a global brand through an expansion into targeted international
     markets, with an initial focus on North America.

     This announcement has been prepared for publication in Australia and may not be released in the United
     States or elsewhere outside Australia. This announcement does not constitute an offer of securities for sale in
     the United States or any other jurisdiction. Any securities described in this announcement may not be offered
     or sold in the United States absent registration under the US Securities Act of 1933 or an exemption from

Cape Lambert Resources Limited
ASX Announcement                                                                                               Page 2 of 2
  Lawn Hill

Century                                                                                           Younger rock sequence
12Mt Zn                                                                                           Eastern Succession
133Moz Ag
                                                                                                  Western Succession
                                                                                                  Kalkadoon Leichhardt Belt
                                                                                         Q Copper Tenements
                                                                                                  Granted tenement
                                                                                                  Operating mine
                Mt Gordon                                                                         Former mine
                0.7Mt Cu
                                                                                                  Mineral deposit
             Lady Loretta                                                                         Copper/Gold
             2.3Mt Zn
    Lady Annie Project                                                                            Copper
    >0.35Mt Cu
                                                                                                  Base metals

            Mt Kelly
            Process Plant                                                                    Dugald River
                                                                                             5.8Mt Zn,
                                                                                             68Moz Ag

                                                                                             0.9Mt Cu
                                                                                             0.3Moz Au

                                                                                                            Ernest Henry
                                                    Rocklands                                               1.4Mt Cu,
                               Hilton               >0.5Mt Cu                                               2.2Moz Au
                               319Moz Ag,
                               7.4Mt Zn
                                                            MOUNT ISA          CLONCURRY
                              Mount Isa
                              8.4mt Cu,
                              10.2Mt Zn,
                              714Moz Ag


                                                                                                     Mt Elliott / Starra
                                                                                                     3.1Mt Cu,
                                                                                                     5.1Moz Au
            Darwin                                Tick Hill
                                                  0.6Mt @ 25g/tAu
                     MT ISA                                                          Cannington
                                                                                     1.9Mt Zn,
                                                                                     750Moz Ag
    Perth                            Sydney
                              Adelaide                                                                     Osborne
                                      Melbourne                                                            0.4Mt Cu,
          1000km                                                          Figure 1                         1.2Moz Au

                                                  LOCATION OF LADY ANNIE PROJECT
                       280 000 mE                                                      340 000 mE

                                                            Distal 5
7 84 0 000 mN

                                                       Power and
                                                      Water Corridor
                 Distal 4

                                                                                Mt Gordon (Cu)
                LADY ANNIE                                                             Waggaboonya

                  Distal 1                                                                Redie Ck


7 800 000 mN    Wild Gecko                                                          MOUNT KELLY

                PROCESS PLANT                                                        Dividend
  To                                                                                McLeod Hill
                  Lady Maggie
                  & Extension

                                Water Pipeline

7 760 000 mN             Python

                            Johnson Creek
                                                                       Johnson Ck


                    Granted Tenement
                    Tenement Applications
                    Exploration Prospects                                      (Zn Pb)
7 720 000 mN
                                                 0               20km
                    Mining Areas
                                                                              Mt Isa
                                                                            (Cu Zn Pb)
                                                 Figure 2
                         MINING AREAS, PROCESS PLANT AND
                              EXPLORATION PROSPECTS

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