Gold Exploration

 Bronzewing project mines and prospects.

View Resources took possession of the Bronzewing tenement holding in July 2004. The assets included an extensive database of previous exploration information. Initial focus concentrated on better defining the existing resource base and converting these resources into reserves as a part of the feasibility study programme that was concluded in 2006. With the commencement of mining operations, based on the current 500,000 ounce reserve, the focus has now shifted toward the identification of additional sources of feed to replace the estimated 100,000 ounces of annual gold production. As part of the search, View is continually reassessing a number of the previously operated mines and prospects in the district. This re-evaluation process led to the definition of remnant underground reserves at the Discovery Mine and open pit cutback opportunities at the Success and Challenger South deposits. Identified mineralisation within the Mount Joel leases, a joint venture with prospector Mark Creasy is also being reviewed in light of improved gold price.

View continues to also assess all potential development or advanced exploration opportunities held by third parties within economic trucking distance of the Bronzewing mill. To this end, View have contacted leaseholders who own advanced prospects, seeking to either purchase the deposit, or discuss possible toll treatment or joint venture opportunities. As part of this strategy, during the past 12 months View completed the acquisition of the Corboys deposit from Great Australian Resources and farmed into Audax Resources’ Bronzewing South tenements, where View have the potential to earn an initial 51 percent interest.

A multi faceted approach has been developed to exploration, involving a search for surface open-pittable ore, as well as exploration for deeper and potentially larger deposits in areas where previous exploration may have been too shallow or too wide-spaced to have adequately tested for buried mineralisation. In order to assist with the targeting programme, SRK Consulting completed a major structural review of the Bronzewing area in early 2007 that resulted in the definition of a number of near mine and regional targets. Several of these targets remain to be drill tested.

Regionally, View has identified several prospects within the project tenements that will be foci of exploration attention over the coming 12 months. These include the Katherine Well prospect in the south, where historic exploration has identified highly anomalous gold values over broad intervals within a mineralised shear zone, identified over more than six kilometres within View’s tenement. At Polar Bear in the northern end of the Mount Joel leases, recent exploration has defined a potential new zone of shallow bedrock mineralisation. At Woorana, historical exploration defined near surface zones of mineralisation that could represent modest sources of additional ore feed. Within the Bronzewing South tenements RC drillholes, targeting a sub-vertical structure at the Karra prospect have provided some initial encouragement with ore-grade intersections being returned from within the oxide zone.

Elsewhere within the Bronzewing project, the review of previous exploration results, combined with the results of the structural study have resulted in the identification of number of other targets, including the Vulcan prospect, located south of the successfully mined Venus open pit, where high grade rockchip results have been returned from sampling of outcropping quartz veins and the Anxiety East area, a possible structural analogue to the main Bronzewing mine setting.

Advanced Prospects

Corboys

The Corboys deposit is located 40km by road north of the Bronzewing mill. Gold mineralisation is hosted within a series of shear zones and quartz vein networks developed around the northwesterly-trending granite-mafic greenstone contact.  After infill drilling confirmed the presence of a 137,000 ounce shallow gold resource at an average in-situ grade of 1.8g/t, View excised the option to purchase the property and commenced necessary heritage, metallurgical and environmental studies. Work toward establishing an initial mine plan for Corboys is well advanced with drilling soon to commence, aimed at upgrading  the 59,000 ounces of inferred resources into the indicated category before completing final mine design studies and reserve estimation.

Challenger South

During the mid 1990’s, Arimco produced 52,400 ounces of gold at an average grade of 2.4g/t from two small open pits at Challenger, one of a series of deposits located in a zone stretching from Venus in the south to Success in the north.  The 9,000 ounce Challenger South resource represents the southerly extension of the mineralisation mined in the main Challenger pit and is hosted within the same metasedimentary rock package.  The mineralisation outcrops at surface with a small open pit planned to exploit this predominantly oxide resource.

Mt Joel

At Mt Joel, 15km northeast of Bronzewing, extensive drilling by Great Central Mines during the mid- to late 1990’s identified a series of mineralised zones distributed over more than seven kilometres of strike within foliated mafic rocks. Intersections returned from this drilling included 22 metres at 3.6g/t and 13 metres at 5.5 g/t gold. The Mt Joel leases are part of a joint venture with prospector, Mark Creasy in which View retains a 70 percent controlling interest.

Preliminary studies, based on mineralisation models developed by Great Central indicate at least two of these mineralised bodies, the 3000N and 4800N prospects have potential for economic development at current gold prices. A small RC infill programme, completed by View in 2007 was used to better constrain the mineralisation outlines. A best intersection of 22 metres at 6.7g/t was returned from the drilling, supporting the historical results.

Further work, including further selective infill drilling, metallurgical testwork and resource remodelling are planned to better quantify the potential.  Initial Heritage and environmental studies have been conducted over the area.

At the northern end of the Mt Joel group of leases, previous historical wide-spaced drill traverses returned highly anomalous gold values over broad intervals, including isolated near ore-grade intercepts. A plus 300 metre gap in the existing drill coverage, coincident with a 400ppb peak in the surface geochemical anomaly was tested in late 2007 by four RC holes, drilled on two 100m-spaced traverses. The deepest drillhole on each traverse intersected wide intervals of mineralisation including 12 metres at 1.7g/t from 38 metres and 17 metres at 1.8g/t from 33 metres. This zone of mineralisation, renamed the Polar Bear prospect remains open both along strike and down dip with further infill drilling planned to commence in the March quarter 2008.

Waroona

At Waroona, 20km southeast of Bronzewing, historical exploration identified zones of gently east-dipping gold mineralisation within mafic rocks and close to a granite contact. Previous drilling identified two main areas possessing possible small-scale open pit potential that will require further assessment. Better intercepts from the historical, mainly shallow  drilling include:

• 4metres at 56.9g/t gold from 24m
• 5metres at 5.8g/t gold from 51 metres
• 9metres at 5.5g/t gold from 9 metres
• 3metres at 11.9g/t gold from 18 metres.

Katherine Well

At Katherine Well, 40km south of Bronzewing, reconnaissance and limited infill drilling have returned wide intervals of gold anomalism associated with a northeast trending shear zone in metasedimentary rocks and developed over at least a six kilometres of strike length. The mineralisation is concealed beneath extensive cover. A number of broad, low grade intersections have been returned through the zone, such as 63 metres at 0.7g/t gold, including 5 metres at 4.1g/t. Much of the existing drilling is on traverses spaced between 100 metres and 800 metres apart and scope still remains to locate significant ore zones both along strike and at depth within the existing drill areas. Infill drilling of this prospect will be a priority during 2008.

Katherine Well greyscale aeromagnetic image and drilling.

Bronzewing South: Karra prospect

The Karra prospect is located 20km south of Bronzewing within the Bronzewing South joint venture. Much of the previous exploration at this prospect comprised either vertical holes or angled RC drilling, aimed mainly at testing a series of flat-lying structures at depth. Although the presence of a narrow, high-grade sub-vertical structure was recognised, none of the previous drilling was oriented toward testing the oxide resource potential of this structure. Initial RC drilling by View in late 2007 confirmed the potential of this shallow position, returning intersections of six metres at 2.98g/t from 20 metres and eight metres at 5.0g/t from 60 metres. Further drilling, designed to evaluate the strike extent of the mineralisation is planned.

Elsewhere within the Bronzewing South ground, zones of mineralisation have been defined to the immediate north of Karra at the Hamster prospect and several structural and geochemical targets, including several in the Anxiety East area remain to be investigated. Further work on these targets will be undertaken during the coming 12 months.

Bronzewing Nickel

The Bronzewing area has undergone little post nickel boom exploration. There are significant belts of ultramafics through View Resources' tenement holding that present opportunities for the discovery of both nickel sulphide and nickel laterite deposits.

View Resources commenced nickel exploration during the 2004/05 year with reconnaissance soil, rock chip and RAB drilling being used to identify areas giving a geochemical signature that may indicate prospective zones for nickel mineralisation.

Results of the reconnaissance testing led to the commencement of surface electromagnetic surveys late in the 2004/05 year, including over areas where highly prospective channel facies ultramafic units had been identified during reconnaissance exploration. These surveys yielded a number of conductive anomalies. Limited preliminary drill testing of only two of the geophysical targets proved unsuccessful with nickel exploration being put on hold pending the start-up of gold operations.

In early 2008, View sold its share of the Carnilya Hill Mine to Mincor Resources. Included in the deal was the opportunity provided to Mincor to acquire a 70 percent interest in the nickel potential of the Bronzewing ground. This agreement will allow for the recommencement of nickel exploration on the Bronzewing tenements without taking any resources away from View’s primary focus of maximising the gold potential.