"BEACONSFIELD, TAS"																																																											
RESOURCE CALCULATION SHEET																																																											
Lower Cut-off grade 0.6%Ni equivalent 																																																											
                                        SCOTTS / VULCAN: LIMONITE												March 2001																																															
																																																											
Hole No.	From	To	Width	%Ni	%Co	Area	Volume	Density	Tonnes	Tonnes x %Ni	Tonnes x %Co	%Ni Equivalent	Section(AMG)																																														
S002	5	8	3	0.30	0.14	19025	57075	1.8	102735.0	30820.5	14382.9	0.79	40100N																																														
S004	3	5	2	0.25	0.28	13387	26774	1.8	48193.2	12048.3	13494.1	1.23	40000N																																														
S006	5	8	3	0.26	0.15	12262	36786	1.8	66214.8	17215.8	9932.2	0.79																																															
S007	8	9	1	0.33	0.12	12950	12950	1.8	23310.0	7692.3	2797.2	0.75	39800N																																														
S013	3	5	2	0.33	0.15	12262	24524	1.8	44143.2	14567.3	6621.5	0.86	39300N																																														
S012	1	3	2	0.72	0.05	16400	32800	1.8	59040.0	42508.8	2952.0	0.90																																															
S014	3	4	1	0.40	0.27	14975	14975	1.8	26955.0	10782.0	7277.9	1.35																																															
Totals				0.37	0.16		205884		370591.2	135635.0	57457.7	0.91																																															
																																																											
