Directors
Rick W Crabb BJuris(Hons); LLB; MBA; AAusIMM (Chairman)
David J Porter BSc(Hons); MSc; FAusIMM (Managing Director)
Gilbert C Rodgers B.Bus; CA(Aust); FCPA; FAICD (Executive Director)
Secretary
Gilbert C Rodgers
Registered Office and Business Address
32 Parliament Place
West Perth WA 6005
Australia
Telephone: + 61 8 9481 5758
Facsimile: + 61 8 9481 5759
E-mail:ppg@highway1.com.au
Web: www.alcaston.com.au
Share Registry
Security Transfer Registrars Pty Ltd
Alexandrea House
770 Canning Highway
Applecross WA 6153
Australia
Telephone : + 61 8 9313 2233
Facsimile : + 61 8 9315 2233
Home Exchange
Australian Stock Exchange (Perth) Limited
Exchange Plaza
2 The Esplanade
Perth WA 6000
Australia
ASX Code:
Shares – AMG
Options - AMGO
Auditors
Stanton Partners
Level 1, 1 Havelock Street
West Perth WA 6005
Australia
Solicitors
Blakiston and Crabb
1202 Hay Street
West Perth WA 6005
Australia
Bankers
Commonwealth Bank of Australia
146 Glenferrie Road
Malvern Victoria 3144
Alcaston Mining NL is an Australian Company incorporated on 24 February 1987. It has the following 2 subsidiary companies:
Shares on issue
Total Ordinary fully paid shares on issue at 31 December 2001: 54,563,301
Total 30 September 2007 Options on issue 27,281,651
(Options are exercisable on 30 September 2007 at 15 cents each)
Top 20 shareholders and optionholders (refer to 2002 Annual Report ).
Rick W CRABB
BJuris(Hons); LLB; MBA; AAusIMM
(Chairman)
Mr Rick Crabb is a specialist resource sector lawyer with 20 years experience and holds the degrees of Bachelor of Jurisprudence (Honours), Bachelor of Laws and Master of Business Administration and is an Associate of the Australian Institute of Mining and Metallurgy (“AusIMM”). He is a director of several ASX listed public companies, including Menzies Court Ltd, Paladin Resources Ltd and Ashburton Minerals Limited.
David J PORTER
BSc(Hons); MSc; FAusIMM
(Managing Director)
Mr David Porter is a geologist with 30 years postgraduate experience and holds a Bachelor of Science (Honours) and Master of Science degrees and is also a Chartered Professional and a Fellow of the Australian Institute of Mining and Metallurgy (“AusIMM”). He was the Exploration Director of the highly successful Gasgoyne Gold Mines NL, which was taken over by Sons of Gwalia in 1995. In addition to having been a director of Gasgoyne Gold Mines NL, he has managed with success, 2 other ASX listed resource exploration companies, Diversified Mineral Resources NL and Africwest Gold NL.
Gilbert C RODGERS
B.Bus; CA(Aust); FCPA; FAICD
(Executive Director)
Mr Gilbert Rodgers is a Chartered Accountant and Company Secretary and holds the degree of Bachelor of Business and is a Fellow CPA and a Fellow of the Institute of Company Directors in Australia. He has served as a director of ASX listed resource companies including Pilbara Mines NL and Africwest Gold NL. He has been involved in the Mining Industry for more than 20 years.
The Swedish diamond exploration project comprises 19 granted licences covering an area of 9,550 square kilometres covering prospective parts of the Baltic Shield. This cratonic area is known to host diamond-bearing kimberlite deposits in the adjoining countries of Finland and Russia. The main licence covers approximately 9,200 square kilometres, is the largest diamond exploration licence ever granted in Sweden and has been the focus of Alcaston's exploration effort. The other licences cover isolated magnetic targets.
During the current year's northern summer, a regional alluvial sampling program of four months duration was completed on behalf of Alcaston.. A total of 516 heavy mineral samples were collected. From the samples collected, a total of 42 samples were analysed. Repeat sampling of the chromite indicator site identified in 1999 returned a further chromite grain, along with a possibly kimberlitic (high-magnesium) picro-ilmenite grain. This site containing the kimberlitic indicator minerals is located down-ice from a high priority magnetic target that had previously been identified by Alcaston
In addition to the regional sampling, approximately 300 geophysical targets have been identified by Alcaston. All targets are considered to have signatures characteristic of kimberlite pipes, and 22 of the targets have been designated as high priority.
The second base-metal project inn Sweden, known as Nimtek, is located in the western section of northern Sweden and covers an area where numerous float boulders containing chalcopyrite and sphalerite mineralisation have been located. These boulders contain up to 4.1% zinc and 2% copper, together with gold and silver values.
Alcaston's review of previous exploration work conducted at Nimtek found that, together with the mineralised boulders, widespread copper and zinc anomalism had been obtained in surface peat and soil samples north of Nimtek Lake. The best target area defined in the review is a 1 km by 1 km zinc-in-peat anomaly, with values generally over 0.5% to 1% zinc in the western portion of the licence. This anomaly has never been tested by drilling. The area also has anomalous copper in peat, a number of zinc and copper mineralised boulders, and a number of east-northeast trending IP chargeability geophysical anomalies, which could be related to sulphides.
The Labelle Downs diamond project consists of an exploration licence application that straddles the northerly extension of the Halls Creek Mobile Zone which hosts the Argyle diamond mine and numerous other kimberlite occurrences along the eastern margin of the Kimberley Block.
Past exploration has delineated a cluster of discrete magnetic anomalies concealed under a blanket of transported sediments and a detailed magnetic survey has pinpointed individual anomalies with signatures that closely resemble those of kimberlite pipes. Recently, Alcaston announced terms for a two stage option/joint venture agreement with De Beers Australia Exploration Ltd (De Beers"), the local subsidiary of the international diamond giant, De Beers..
The Leopold Downs project comprises two adjoining granted licences and is located in the Kimberley region, approximately 50 km to the southeast of the Ellendale lamproite field. The most northerly licence contains a cluster of five lamproite bodies comprising four pipes ranging in surface area from 10.4 ha to 1.0 ha and a sill or dyke of at least 1.0 ha in extent. These pipes were the first diamondiferous pipes of economic size to be discovered in Western Australia, and the first known occurrences of diamond in rocks of the lamproite type.
In the adjoining southern licence, past exploration has found both diamonds and indicator minerals in drainages within the licence but without an obvious source. Few areas in Australia, other than downstream from the Argyle diamond mine, have yielded diamonds so consistently from normal drainage sampling. A review of available data has highlighted four small creeks that are anomalous in their diamond and indicator mineral content. All four creeks drain off a plateau area suggesting that a lamproitic or kimberlitic source may exist within this localised area.
Minilya, comprises three exploration licence applications lodged by Alcaston in the Giralia Range region, near Exmouth Gulf. Diamond potential in the Minilya area was suggested in 1989 during exploration drilling for heavy mineral sands along the coastal strip, with the unexpected discovery of fresh diamond indicator minerals in the ancient strand lines. Alcaston's application areas have been selected to cover the closest available outcrops upstream of the previous mineral sands exploration sites. Data available to the company also indicates a number of magnetic anomalies that warrant further investigation.
A study of the Minilya base metal potential was conducted by Alcaston and a detailed structural interpretation of the region was undertaken. In addition, all geochemical data from previous exploration was compiled into GIS (geographical information system) format. The study concluded that the mineralisation in the district, particularly silver, is closely controlled by certain structures and four areas were selected as having high potential for structurally controlled metal mineralisation
Alcaston is currently negotiating a Heritage Clearance Agreement with native title claimants which should enable an expedited grant process for the Minilya licence applications.
Alcaston was granted an exploration licence in the northern Yilgarn Block in Western Australia. The licence, known as Nanadie Well, is located between the mining centres of Sandstone, Meekatharra and Gidgee. The licence covers part of the Barrambie and Poison Hills greenstone belts. Previous work and soil sampling conducted by Alcaston has outlined a copper and gold in soil anomaly at the Noel Bore prospect. The anomaly, which has a strike length of some 3.5 km, has been tested in places by previous explorers. The best drill intercept in this zone is 4 m @ 2.4% Cu.
During the year, the Woods Point licence was reduced in area from 189 to 107 square kilometres. Alcaston completed a geochemical sampling program in the Red Jacket Creek area in the southeast of the licence. The results of the sampling indicate the potential for gold mineralisation in the dyke structures in the Red Jacket Creek area. However, the narrowness of the dykes at surface suggests that they are unlikely to host an economic resource. Alcaston is currently conducting a review of its involvement in the Woods Point gold project.