South Boulder Mines (STB)

Shares / Stock Code

STB

Stock Exchange / Sharemarket

Australian Securities Exchange

South Boulder Mines (STB) is an exploration company primarily searching for gold and nickel, with tenements mainly in Australia. STB's key asset is the Duketon Project, situated within the Duketon Greenstone Belt of Western Australia. South Boulder Mines Ltd was incorporated in Western Australia on 21st August 2001. STB listed on the Australian stock market (ASX) on 17th October 2003.

STB has established a Nickel Joint Venture with nickel producer Independence Group NL (IGO). This joint venture highlights the potential of the Duketon Greenstone Belt to host significant nickel sulphide mineralisation.

As an explorer, South Boulder Mines has no customers at present. STB competes with gold explorers including Arafura Resources NL (ARU), Danae Resources NL (DNS) and Midas Resources (MDS). Competing for exploitable nickel sulphide are Heron Resources (HRR) and Cazaly Resources (CAZ). Markets for both these commodities are global, and STB would ultimately be subject to international competition.

It holds two key 100% owned fertilizer projects, Lake Disappointment Potash Project in the Gibson Desert and the Cardabia Phosphate Project in the Carnarvon Basin, both located in Western Australia. STB Eritrea Pty Ltd is the Company’s subsidiary.

Nickel: The Bulge Project

The Bulge Prospect is located within South Boulder’s E38/1537 permit, along with Camp Oven and Bandya Prospects. The permit is in the Duketon Greenstone Belt, 100 kilometres northwest of Laverton, Western Australia.

The Bulge is a northwest striking, s-shaped body of ultramafic rock approximately 15 kilometres south-southeast and along strike of Camp Oven. Aircore and reverse circulation drilling at The Bulge in 2007 confirmed the presence of nickel sulphide mineralisation associated with platinum group element anomalism.

In the third quarter of 2007 a 101 hole aircore drilling program was completed to test the depth and strike of the mineralisation and test for new areas. Results were encouraging and a large reverse circulation drilling program is planned for 2008.

Nickel: Camp Oven Project

The Camp Oven Prospect is located within South Boulder’s E38/1537 permit, along with The Bulge and Bandya Prospects. The permit is in the Duketon Greenstone Belt, 100 kilometres northwest of Laverton, Western Australia.

Camp Oven is approximately 15 kilometres north-northwest and along strike of The Bulge. First pass geochemical soil sampling returned very encouraging results and highlighted anomalous nickel, copper, platinum and palladium associated with an ultramafic unit.

Rock chip sampling in the area also confirmed the presence of cumulus nickel copper sulphides. An Induced Polarisation (IP) survey delineated two strong coincident IP anomalies with a combined strike length of approximately 800 metres. Reverse circulation drilling is planned to test for the primary source of this nickel anomalism.

South Boulder Mines (STB) Products and Services

  • Exploration company primarily searching for gold and nickel.

South Boulder Mines (STB) Locations and Subsidiaries

South Boulder Mines Head Office
23 Altona Street, WEST PERTH, WA, AUSTRALIA, 6005
Phone: (08) 9227 1144
Fax: (08) 9389 2199

South Boulder Mines (STB) Share Price

Submitted by ASX Listed Company on 31 May, 2010 - 17:22

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