"BEACONSFIELD, TAS"																																																													
RESOURCE CALCULATION SHEET																																																													
Lower Cut-off grade 0.6%Ni equivalent																																																													
                                                                                                                                                   BARNES HILL: ALL LITHOLOGIES															March 2001																																														
																																																													
Lithology				Ni	Co	Sc	Area	Volume	Density	Tonnes	Tonnes 	Tonnes 	Tonnes	%Ni 	Percentage																																														
				%	%	ppm					 x %Ni	x %Co	x ppm Sc	 Equivalent	Tonnes    Ni       Co   																																														
																																																													
Hematite				0.97	0.05			46881	1.8	84385.8	82157.3	4192.5		1.15	1.0%    1.0%    0.8%																																														
Limonite				0.41	0.09			235615.5	1.8	424107.9	173188.6	38218.2		0.72	 4.8%    2.2%    7.2% 																																														
Saprolite				0.92	0.06			3846246.0	1.8	6923242.8	6357806.1	442928.0		1.14	78.3%  81.7%  83.8%																																														
Weathered Serpentinite				0.83	0.03			781064	1.8	1405915.2	1173119.3	43353.2		0.94	15.9%  15.1%   8.2% 																																														
TOTALS				0.88	0.06			4909806.5		8837651.7	7786271.3	528691.9		1.09																																															
																																																													
																																																													

											
