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LEVEL 3, 18-32 PARLIAMENT PL WEST PERTH WA , 6005
P: 08 9215 6005 F: 08 9220 5757
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NICOLSONS

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About: The Nicolsons Gold Project is located 35 kilometres south west of Halls Creek in the Kimberley Region of Western Australia. It is part of the wider Halls Creek Project and has previously been known as the Lamboo Project.

Nicolsons Project Acquired by Pacific Niugini From Bulletin Resources

The Halls Creek Project, that has recently been acquired by Pacific Niugini from Bulletin Resources, has a CIP (carbon-in-pulp) gold processing plant on site that is capable of processing 120,000 tonnes of ore a year. The plant only requires minor modification and refurbishment to make it ready to begin processing once again.

Nicolsons mine in Readiness for Mining to Begin

The Nicolsons Gold Project has all necessary infrastructure on site made ready for mining to recommence. All government approvals have been granted by the DMP (Western Australia Department of Mines and Petroleum) and the State DER ( Department of Environmental )Regulation). A Finance package has also been agreed to between Pacific Niugini and the Commonwealth Bank of Australia.

Pacific Niugini is developing a Nicolsons Gold Project strategy with the aim of minimising operating costs as well as any upfront start up capital costs, before production gets started on developing an underground mining operation at Nicolsons Mine. The previous owner of the Nicolsons Project, Bulletin Resources, had undertaken a thorough exploration of the Halls Creek Project mineralisation and this, along with the feasibility study undertaken by Pacific Nuigini, have given the company the confidence to go ahead with plans to commence mining operations at the site.

Nicolsons Mine Feasibility Study Gives Positive Response

The feasibility study undertaken by Pacific Nuigini showed that the development of an underground gold mine at the Nicolsons site would:
    (1) Support mining for a period of at least four and a half years
    (2) It would take six months to get the mine ready before production could commence

Pacific Niugini currently have a 65 percent ownership of the Nicolsons Project , which will grow to 80 percent, leaving Bulletin Resources with a 20 percent share. The JORC listed gold resource at the Nicolsons deposit in 2004 stood at 1.127 million tonnes grading at 5.9 grams a tonne, a figure that would see a return of 214,000 ounces. Dewatering of the Nicolsons open pit is currently taking place. Contracts to operate the mine will be announced as soon as preparatory work is completed.

The East Kimberley Mineral Field, where the Halls Creek gold mineralisation is located, is where gold was first discovered in Western Australia in1858, at what is now known as Old Halls Creek. Much gold has been mined in the area since that time. Exploration during the 1970's and 1980's located high grade lodes at Nicholsons Find, now known as Nicolsons. This particular deposit is located to the west of the Halls Creek Fault.

Pacific Niugini

Pacific Niugini has recently acquired the Halls Creek Project from Bulletin Resources and is developing the Nicolsons Gold Project in WA, in which they currently have a 65 percent ownership.

ADDRESS

Pacific Niugini
Level 3, 18-32 Parliament Pl
West Perth, WA 6005

PO Box 1353
West Perth, WA 6872

OTHER INFO

Phone0892156005
fax0892205757

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