|
9 December2008
Appointment of new Board members and Director
Resignation
Mr Peter Barrow has
resigned as a Director of Cluff Resources Pacific NL and its subsidiaries,
effective from today (9th December 2008).
Peter has advised that he has recently taken on the position of Chairman
with one of the other listed companies he currently serves as a Board
member, and as a result finds it difficult to accommodate all current
responsibilities. The Cluff Board has appreciated his valuable input over
the past 5 years.
While Peters contributions will be missed, the Company also considers
this an opportunity to introduce new Board members whom it feels will
similarly provide the necessary drive and enthusiasm to successfully progress
Cluffs current development opportunities.
The Board is pleased to introduce Mr Peter Ashcroft and Mr Ian Johns as
our new Board appointees.
Peter Ashcroft is a commercial law specialist with over 30 years experience.
He is the owner and principal of Ashlaw Legal Services, which is a specialised
commercial legal practice focusing upon the provision of advice to natural
resource companies, both in production and exploration stages, and logistic
and transport businesses.
Peter is familiar with mining and resource developments throughout Australia,
and has advised on joint ventures in Indonesia, New Zealand, Philippines,
India, USA, Sweden, Ghana and Canada. He has been Cluffs principal
legal advisor for over 5 years, and has over the course of his career
been principal legal adviser for a wide range of major commercial transactions.
The Company welcomes his extensive knowledge and business acumen at a
time when we are engaged in a number of potentially significant project
discussions. Peter has additionally agreed to accept the position of Acting
Chairman.
Ian Johns brings 20 years of operational business experience to the Cluff
Board. He is consults in the manufacturing industry as a business developer
and contract negotiator, and was a founding Director of Royalco Resources,
a successful royalty income-based mineral exploration company. He is currently
organising the licensing of a services business.
Ian has been a prominent long term shareholder and supporter of the Company,
and was recommended for nomination to the Board by Martin Place Securities,
with whom he has a working relationship. His appointment has been endorsed
by departing Board member Mr Barrow.
Scott Enderby
Company
Secretary
4 December2008
Assay Results, Hole EG1 (Upper Part), Egerton
Gold Project
Assays from the upper
part of Hole EG1 at Mount Egerton show only traces of gold mineralization
in the thin quartz veins forming the southern extension of the Black Horse
Reef. These were not the primary target of the drilling, which will test
the extension at depth of the Egerton Reef beneath old workings. Completion
of Hole EG 1 to its target at 600 metres has been delayed by the transfer
of title on the ground on which the hole is being drilled from a MIN to
an Exploration Licence.
The assay results are shown below:
| Hole Number |
Depth (metres) |
Grade (grams/tonne) |
| EG1 |
194.5 - 194.7 |
0.03 |
| EG1 |
225.8 - 225.9 |
0.02 |
| EG1 |
236.3 - 236.4 |
0.02 |
| EG1 |
339.4 - 339.6 |
0.02 |
| EG1 |
344.3 - 344.6 |
0.03 |
| EG1 |
346 - 346.5 |
0.03 |
| EG1 |
346.5 - 347 |
0.07 |
| EG1 |
347 - 347.4 |
0.02 |
| EG1 |
347.8 - 348.1 |
<0.01 |
| EG1 |
352.6 - 352.7 |
0.03 |
| EG1 |
357.2 - 358 |
0.02 |
| EG1 |
358 - 358.8 |
0.01 |
| EG1 |
360.3 - 361 |
0.02 |
| EG1 |
360.6 - 360.8 |
0.02 |
| EG1 |
372.2 - 373.5 |
<0.01 |
| EG1 |
379.7 - 379.8 |
0.01 |
| EG1 |
399 - 399.6 |
<0.01 |
| EG1 |
399.6 - 399.9 |
0.04 |
| EG1 |
415.7 - 415.8 |
0.01 |
| EG1 |
423.1 - 423.2 |
0.12 |
| EG1 |
426.7 - 426.8 |
0.02 |
Peter Kennewell
Managing Director
30th October
2008
Egerton Gold Drilling Interpretation
The Black Horse Reef
line of lode is interpreted as having been penetrated in Hole EG T1 1
at the Egerton Gold Project, with a true thickness of 9 metres (from 339
to 361 metres). Within this zone are seven quartz reefs with true thicknesses
ranging from 0.1 to 0.25 metres, and a volcanic intrusion 0.4 metres true
thickness. Past production from the Black Horse Reef was 303,000 tonnes
at 10.1 grams of gold recovered per tonne.

Logging of the drill
core has now been completed to 443 metres, the depth at which drilling
operations have been temporarily deferred.
Geological interpretation shows that the sediments on the Egerton goldfield
have been very sharply folded, as illustrated in the Figure above. Such
folding is characteristic of many goldfields in Victoria, and when understood
can provide valuable clues to the interpretation of the location of the
reefs and their gold content.
A second quartz reef of true thickness 0.15 metres and carrying traces
of lead and zinc sulphide mineralisation was penetrated at 399.6 metres
depth.
The cores have now been transported to the Companys Inverell workshop
for slabbing of the potentially mineralised intervals, and will be sent
for assay when this is completed.
The information in
this report that relates to exploration results is based on information
compiled by Peter John Kennewell, who is a corporate member of the Australasian
Institute of Mining and Metallurgy included in a list promulgated by the
ASX from time to time. Peter John Kennewell is a full time employee of
Cluff Resources Pacific NL and has sufficient experience which is relevant
to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a competent
person as defined in the 2004 Edition of the "Australasian Code for
Reporting of Exploration Results, Identified Mineral Resources, and Ore
Reserves". Peter John Kennewell consents to the inclusion in this
report of the matters based on his information in the form and context
in which it appears.
Peter Kennewell
Managing Director
30th October
2008
Egerton Gold drilling Slurry Assays
Assay results of thirty-seven
sludge samples from Hole BH_T1, the second Cluff hole drilled on the Egerton
Goldfield near the historic Blackhorse Mine, are presented below.
The assays indicate a zone of anomalous gold mineralisation below 118.5
metres, with the higher values over the basal ten metres of the hole suggesting
that drill mud loss, which caused cessation of the hole, was due to the
presence of old unrecorded workings creating fractures in the surrounding
bedrock.
These were not representative samples, as they were collected by settling
of the ground bedrock from drilling mud flowing from the hole during drilling.
The clay fraction would not have been included in the sample, and the
sample contaminated with mud additives. The samples will not include coarser
gold, which is unlikely to be washed from the hole. The assays aim to
give an indication of gold values within the altered bedrock penetrated,
indicating the location of reefs, as coring was not possible due to drilling
conditions.
|
Sample
Depth (metres)
|
Gold
(grams/tonne)
|
Duplicate
Gold (grams/tonnne)
|
Sample
Depth (metres)
|
Gold
(grams/tonne)
|
Duplicate
Gold (grams/tonnne)
|
|
31.5
- 33
|
0.03
|
|
88.5
- 90
|
0.03
|
|
|
34.5
- 36
|
0.03
|
|
91.5
- 93
|
0.04
|
|
|
37.5
- 39
|
0.04
|
0.04
|
94.5
- 96
|
0.04
|
|
|
40.5
- 42
|
0.17
|
|
97.5
- 99
|
0.04
|
|
|
43.5
- 45
|
0.11
|
|
100.5
- 102
|
0.05
|
|
|
46.5
- 48
|
0.19
|
|
103.5
- 105
|
0.06
|
|
|
49.5
- 51
|
0.05
|
|
106.5
- 108
|
0.12
|
|
|
52.5
- 54
|
0.14
|
|
109.5
- 111
|
0.07
|
|
|
55.5
- 57
|
0.06
|
|
112.5
- 114
|
0.06
|
|
|
58.5
- 60
|
0.07
|
|
115.5
- 117
|
0.06
|
|
|
61.5
- 63
|
0.03
|
|
118.5
- 120
|
0.21
|
|
|
64.5
- 66
|
0.03
|
|
121.5
- 123
|
0.3
|
|
|
67.5
- 69
|
0.02
|
|
124.5
- 126
|
0.23
|
|
|
70.5
- 72
|
0.02
|
|
127.5
- 132
|
0.22
|
|
|
73.5
- 75
|
0.03
|
|
133.5
- 135
|
0.42
|
|
|
76.5
- 78
|
0.02
|
|
136.5
- 138
|
0.47
|
|
|
79.5
- 81
|
0.03
|
|
139.5
- 141
|
1.05
|
0.84
|
|
82.5
- 84
|
0.02
|
|
149.5
- 150
|
1.30
|
1.14
|
|
85.5
- 87
|
0.05
|
|
|
|
|
Two samples of the
cherty bedrock on which the rig was set up on Hole EG T1 1, drilled subsequently
300 metres to the south, each yielded 0.1 grams/tonne gold.
The information in this report that relates to exploration
results is based on information compiled by Peter John Kennewell, who
is a corporate member of the Australasian Institute of Mining and Metallurgy
included in a list promulgated by the ASX from time to time. Peter John
Kennewell is a full time employee of Cluff Resources Pacific NL and has
sufficient experience which is relevant to the style of mineralisation
and type of deposit under consideration and to the activity which he is
undertaking to qualify as a competent person as defined in the 2004 Edition
of the "Australasian Code for Reporting of Exploration Results, Identified
Mineral Resources, and Ore Reserves". Peter John Kennewell consents
to the inclusion in this report of the matters based on his information
in the form and context in which it appears.
Peter Kennewell
Managing Director
27th October
2008
Delays during Egerton Gold drilling - Drilling
for source rock at Copeton Diamond Shaft
Cluffs drilling
rig is today commencing coring adjacent to the Companys Copeton
Diamond Shaft, penetrating the bedrock beneath the shaft, and seeking
potential diamond bearing rocks. Tens of thousands of gem quality diamonds
were recovered from several old shafts in close proximity to ours.
Cluffs shaft clearly demonstrated that gravels do not carry significant
numbers of diamonds, as was historically reported. The only alternative
source from which this large number of gem diamonds mined in the past
could have originated is previously unrecognised source rock within the
granite basement. Accordingly we are drilling the basement to investigate
whether non conventional, high grade gem diamond source rocks are present.
Dewatering bores necessary for sinking of our shaft, but no longer required,
will have the metal screening at their base drilled out, and will provide
cased access to the top of the basement rocks beneath the non diamondiferous
gravels. Several such bores will be deepened in this program.
The Companys drilling rig, having reached a depth of 440 metres
(target depth is about 600 metres), has been required to cease operations
at Mount Egerton for a minimum of four weeks for administrative reasons.
Following recent discussions with the Mining Warden and senior management
of the Victorian Department of Primary Industries, it was decided to amalgamate
the mining tenement on which the drilling is being undertaken with the
Joint Ventures surrounding exploration licence. During this amalgamation
period no drilling activities may be undertaken. The hole will be resumed
after the title transfer has been completed.
Peter Kennewell
Managing Director
18th September
2008
Mt Egerton Gold Project Drilling Update
Hole EG T 1, which
is being drilled at the Mt Egerton Gold Project, has reached a depth of
309 metres (1,014 feet). Rocks are becoming more competent and harder
with depth with several thin quartz veins, but no major reef, penetrated
to date. Some smaller altered and broken zones are also present, as expected.

Drill Core
from Hole EG T 1 to 151 metres depth
The hole is designed
to test the gold reefs within a 250 metre wide zone across the regional
scale Muckleford Fault. Within this zone the Egerton Reef is reported
to have produced 590,000 tonnes of ore at a recovered gold grade of 12.6
grams per tonne, and the Black Horse Reef 303,000 tonnes at 10.1 grams
of gold recovered per tonne. 392,488 ounces of gold were produced from
these two reefs.
The down dip extension of the southern part of the Black
Horse quartz lode, previously mined in outcrop by small pits, is expected
to be intersected at around this depth, and the hole will be continued
to its main target, the Egerton Reef, which is expected to be present
at about 550 metres.

Peter Kennewell
Managing Director
3rd September
2008
Drilling Update - Mt Egerton
Drilling at the Mt
Egerton Gold Project (Hole EG T 1) has reached a depth of 131.1 metres
with rocks becoming more competent and harder with depth, and hence easier
to drill, with silicification of some sandstones evident. No reefs have
yet been intersected. Drilling through the shallower rocks necessitated
reaming (widening of the hole) to allow setting of steel casing to 40
metres depth, eliminating the risk of hole collapse, and subsequently
cementing of the rock formations penetrated by the hole to stop water
loss between 40 and 60 metres.

Thirty nine sludge
samples from the previously drilled hole (BH T 1) have been submitted
for fire assay. Although not representative samples, they aim to give
an indication of the background gold values in the altered bedrock between
the reefs.
Peter Kennewell
Managing Director
13th August
2008
Egerton Reef drilling commences
The third hole of
the Mount Egerton Gold Project commenced yesterday, and is currently drilling
ahead at twenty two metres, having set HQ casing in hard rock at a depth
of nine metres. The current good drilling conditions are gratifying, considering
the Company’s need to abandon the previous two holes due to soft
clays and sands at depths continuing beyond 157 metres (515 feet).

Rock currently being drilled
is silicified chert atypical of the district. It is highly sheared with
sparse decomposed sulphide minerals on the fractures.
The hole is designed to test
the gold reefs within a 250 metre wide zone across the regional scale
Muckleford Fault. It will extend between the outcrop of these “Heathcotonian”
rocks which are interpreted to form basement beneath Victoria’s
ubiquitous slates and sandstones, and the former Egerton mine workings
and beyond.
Within this zone the Egerton
Reef is reported to have produced 590,000 tonnes of ore at a recovered
gold grade of 12.6 grams per tonne, and the Black Horse Reef 303,000 tonnes
at 10.1 grams of gold recovered per tonne. 392,488 ounces of gold were
produced from this zone.
Above the drill hole projection the Black Horse Reef appears to have been
mined by a nearby deep trench, the Quarry Reef was subjected to large
scale shallow mining, and the Egerton Reef, the main producing reef of
the field, was worked extensively. The hole is planned to intersect each
reef below previous old workings, and to test for unrecognised reefs in
the intervening zones.
This hole is located
approximately 350 metres to the south of the two previously drilled holes,
both of which had to be abandoned at depths of 126 metres and 157 metres
after intersecting puggy and poorly consolidated rocks containing old
workings which could not be cemented off or cased. The casing could not
be successfully sealed or cemented into the bedrock causing a lack of
drill mud return which ultimately would cause the drilling rods to become
stuck in the hole, and lost.
Peter Kennewell
Managing Director
29th July
2008
INDEPENDENT
REPORT, INDIAN IRON ORE
I attach the
Independent Expert Report prepared by N.H.Cole and Associates Pty
Ltd, Project Investment and Mineral Industry Advisors, on six Applications
for Mining Leases in Karnataka State, India. These AMLs have been offered
to Cluff as a result of the Memorandum of Understanding between Cluff
Resources Pacific NL and Sai Engineering, of Bangalore signed on 2 May,
2008.
The mining lease applications are within a district with a large amount
of current and historical mining, and particularly those very close to
two of the AMLs offered, the evidence of past and current illegal mining
activity by artisanal mining workers within at least three of the areas
offered, suggesting the presence of commercial grades of iron ore on the
leases. The region produces the large majority of iron ore from the state,
and is the location of at least 140 current or former high grade, low
impurity haematite iron ore open pit mines.

Sampling Haematite
Scree Deposit on 2511AML07
The Report encourages
the Company to further investigate committing to iron ore mining in Karnataka
State by highlighting the haematitic nature of the deposits, high grade
of iron ore mined regionally, and low levels of silica, alumina, phosphorous
and sulphur within the ores. Reported mine gate price of this iron ore
is high. The smaller size of the mines and low requirement for ore processing
suggests that mine establishment costs would be much lower than for many
other commodities. This, together with likely low stripping ratios, and
the use of contract haulage is likely to result in low production costs.
Hence mining operations on these leases have potential to produce profits
suitable for an emerging miner such as Cluff.

Haematite outcrop,
2511AML07
The minimal amount
of exploration and geological mapping carried out to date needs to be
remedied. Hence the projects are at the point where they require exploratory
drilling to define a resource, rather than at mine planning stage.
Discussions with our Joint Venture Partner are continuing in order to
remedy the Companys concerns about uncertainties in time required
for grant of the Mining Leases. It is now examining the possibility of
purchasing additional granted Mining Leases, with the aim of obtaining
near term production while grant of the applications for mining leases
described in the Report is obtained.
Haematite on 2511AML07
Beds of Banded Ironstone, 2318AML07
Iron Ore Transport in Typical Thirteen Tonne Truck, 2318AML07
Scree Ore Mining Area, 2318AML07
Ridge of Banded Ironstone, 374AML08
Illegal Artisanal Miners Settlement, 374AML08

Transport of Iron
Ore to Screening Plant

Screening Plant
and Stockpiles, Mullock Dump from Large Open Cut in Background (in Valley,
LHS)

Illegal Artisanal
Mining Pit in Scree Deposit, with Banded Iron Formation Ridge in Background,
802AML05
Peter Kennewell
Managing Director
18th June
2008
Drilling
and Exploration update
Little Bygoo Tin
Drilling
The initial open hole percussion drilling program at Little Bygoo has
now been completed, with 1,613 metres drilled in nine holes. This makes
a total of eleven holes drilled to date. Hole locations are shown on the
figure below and former open cuts are present on the greisen subcrops
west of the drill holes.
Assay results from the initial Cluff drilling (LB 1 and LB 4) have been
received, indicating that neither hole intersected a tin mineralised zone.
Replotting of the cross sections shown below demonstrates that the tin
bearing rocks are not tabular but plunging to the east, and the holes
may have been too shallow to intersect mineralisation. Hole LB 1 was terminated
because of lack of additional drill rods at the time, and can now be deepened
if warranted. Hole LB 4 was near the limit of the drilling rig. An alternative
interpretation is that the greisen is displaced between the drill holes
by a fault. These possibilities are being tested by both the recent drilling,
and planned future drilling.
The recent percussion drilling program (shown in red) was aimed to infill
areas between previous drilling by Ardlethan Tin (shown in blue) to allow
possible determination of an inferred resource of tin in the area between
the open cuts and Cluffs initial drilling. Future drilling will
aim to extend such a resource to the north and south, and investigate
its presence and mode of occurrence to the east, where mineralisation
appears to be increasing in grade. This could be accomplished by the drilling
of angle holes using the companys newly modified drilling rig. Samples
from this recent drilling are with the assay laboratory, and results will
be available in due course.



Leviathan Mine
Assays of the granitic dyke at the former Leviathan tin mine demonstrated
it was not tin bearing.
Egerton Gold Drilling
Drilling at Egerton, 20 km east of Ballarat in Victoria, has reached a
depth of 124 metres, and is continuing. Target depth is approximately
560 metres. Extremely altered and soft slates and sandstones have been
penetrated, with a stock work of narrow quartz veins developed within
them.
Wire line triple tube coring recovered only very small amounts of core
due to the contrast between the soft bedrock and hard quartz stringers.
Two coring diamond bits were destroyed by movement of the quartz stringers
during drilling. Accordingly open hole roller bit drilling was adopted,
and is being successfully utilised despite high wear rates due to the
broken angular quartz fragments. Previous drilling in the district has
not reported such conditions, and it is uncertain where the base of these
decomposed rocks will be, as they have possibly resulted from hot solutions
moving upward from depth, and not weathering.
The company now has 285 metres of larger diameter drill rods suitable
for casing the hole on site, and aims to reach that depth or prior hard
bedrock using the roller bit before setting these drill rods as casing
and recommencing coring.
Chitradurga Iron Ore, India
The Company has engaged a consultant to prepare an independent expert
AusIMM Valmin Code assessment and valuation report covering its iron ore
project interest and entitlements in Karnataka, India. The scope of work
is to complete the report based on a visit to the site and the examination
of materials and information made available, and on iron ore industry
information otherwise available.
The visit will be
conducted over the coming week, and the report finalised in early July.
Peter Kennewell
Managing Director
29th May
2008
Egerton
Gold Drilling Commences
Drilling of the first
hole on the Egerton Gold Project commenced yesterday, using the Companys
wire line diamond coring rig, recently modified to allow drilling of angled
holes. This first hole is programmed 550 metres, to allow determination
of the grade and thickness of the downward extension of the quartz reef
beneath old working of the Black Horse Mine. Cluff is earning up to 75%
interest in Exploration Licences and MINS covering the whole of the Egerton
Goldfield, 20 km east of Ballarat, from Tech-Sol Pty Ltd.

Exploration targets
totalling between 2.2 and 3.3 million tonnes of gold bearing quartz with
grades between 3 and 12 grams/tonne have been outlined below old workings
of the Black Horse, the Egerton and the Mundic Lode Mines. This represents
a total exploration target range of between 340,000 and 1,150,000 ounces
of gold. It should be noted that potential quantity and grade of the targets
is conceptual in nature, there has been insufficient exploration to define
a Mineral Resource, and it is uncertain if further exploration will result
in the determination of a Mineral Resource.
The Black Horse exploration
target is below 380 metres depth and may contain recoverable gold within
the continuation to depth of a previously mined ore shoot. Records for
the Black Horse Mine suggest that significant areas within and close to
the existing level development were not mined as they were considered
to be low grade at the time.
The targeted ore shoot was partly developed for mining from 380 to 600
metres depth by the Black Horse Shaft and by many development tunnels,
but reports indicate that it was not extracted before the mine closed
in the early 1900s. A 3.5 metre mining width for this target has been
assumed, based on this being the apparent average mining width in the
past. Grade is inferred to be between 6 grams/ton, the lowest grade reported
recovered from the mine, and 12 grams/ton (less than 16 grams/ton, the
highest grade reported recovered).
The first two holes
programmed are shown on the cross section below:

Little Bygoo Tin
Drilling Update
Drilling at Little Bygoo, using a contract open hole percussion rig, continued
throughout last week, with four holes to a maximum depth of over 170 metres
completed. Drilling will continue for approximately another week, with
shallower holes attempting to correlate the identified tin bearing greisen
with an area of near surface tin mineralisation previously drilled by
Ardlethan Tin during the 1980s.
Peter Kennewell
Managing Director
15th May
2008
Share
Placement to raise up to $981,000
The Company has engaged
Martin Place Securities Pty Ltd to assist it to raise capital through
a proposed placement of 109 million fully paid ordinary shares in the
Company to sophisticated investors at 0.9 cents per share to raise up
to a total of $981,000. The proposed placement is not underwritten.
With monies raised the Company aims to:
1. Define an inferred resource of tin at Little Bygoo, near Ardlethan,
NSW. This will entail computer modeling of past drill hole data and further
drilling of twelve percussion holes into the tin bearing griesen shown
in 1983 by open hole drilling to be carrying grades of up to approximately
1.7% tin over a true thickness of 5 metres. Drilling will start next week.
2. Drill several holes up to depths of about 600 metres, commencing shortly,
at our Egerton Gold Project, located 15 km east of Ballarat in Victoria.
With approvals for initial drilling now in place, this drilling aims to
demonstrate the downward continuation of the Black Horse Reef, part of
a reef system which produced 893,000 tonnes of ore at an average gold
grade of 11.6 gm/tonne before 1903. Drilling will be carried out by the
Companys wire line diamond drilling rig and crew.
3. Carry out due diligence using an internationally recognized consultant
into the development potential of the Companys new iron ore opportunity
in Karnataka State, India.
This issue of securities will be conducted pursuant to Section 708 of
the Corporations Act and does not require a disclosure document. An Appendix
3B will be lodged when the placement is completed. The MPS fee is 5% of
all funds raised, and 4,000,000 listed options exercisable at 2.5 cents
before 30 November 2008.
On completion of the placement the company will have up to 1,607,288,472
shares on issue. The shares will carry the same rights applicable to quoted
ordinary shares in the Company and will from the date of issue rank equally
with fully paid quoted ordinary shares currently on issue. The issue is
not subject to shareholder approval.
Peter Kennewell
Managing Director
8th May
2008
CLUFF
SIGNS INDIAN IRON ORE MOU
Four Iron Ore Mining
Lease Applications, near Chitradurga in the Indian State of Karnataka,
are the subject of a Memorandum of Understanding between Cluff Resources
Pacific NL and Sai Construction, Engineers and Contractors, of Bangalore,
India.
The interests of Cluff in the proposed venture will be held by Cluff's
71% owned subsidiary, Elephant Gold Pty Limited. The 29% is held by consultants
to and associates of Cluff.
The MOU makes provision for the establishment of a Joint Venture Company,
Karnataka Iron Ore Mining Pte Limited, in which the shares will be held
in the proportion Elephant Gold Pty Ltd 60%, Sai Constructions 40%.

Map of India showing
location
Details of the four
Mining Lease Applications are listed below:
| Mining Lease
Application No. |
Taluk (Village) |
Minerals |
Area |
| AML/519/2005
|
Chitradura |
Iron Ore and
Manganese |
600 acres |
| AML/503/2005 |
Holalkere |
Iron Ore and
Manganese |
600 acres |
| AML/578/2005 |
Hosadurga |
Iron Ore and
Manganese |
1,000 acres |
| AML/518/2005 |
Chitradurga |
Iron Ore and
Manganese |
300 acres |
Approvals from various
government Departments are necessary before the Mining Leases will be
granted. The entry price of Cluff to the Joint Venture is payment of costs
necessary for the processing of the Mining Lease Applications, and grant
of the Mining Leases. Departments involved include the Indian Bureau of
Mines, the Central Government, the Pollution Control Board, the Ministry
of Environment and Forestry and the State Government. Sai Construction
is obliged to assist in obtaining these consents, and to resolve any legal
issues which may arise in grant of the Mining Lease Applications.
Cluff will be carrying out due diligence on the proposed mining operation
within the next ten weeks. After Cluffs completing its due diligence
to its satisfaction, Sai Construction shall form a company, Karnataka
Iron Ore Pte Ltd. in which it has a 40% share, and Elephant Gold has a
60% share, and in which each party contributes in proportion to their
shareholding. The leases will be transferred into the name of the new
company.
After initial satisfactory due diligence Cluff will appoint two international
valuers to ascertain the value of the leases at that point in time. The
average of the two valuations will be deemed to be the value of the shareholding
of Sai Construction in Karnataka Iron Ore.
It is the intention of Sai Construction to exit the Company after the
approvals are in place, and the funding for the project has been sanctioned.
This provides an opportunity for Elephant Gold to competitively acquire
the remaining equity in the iron ore leases, giving it 100% ownership.
The entire transaction, including execution of a joint venture agreement
by Elephant Gold and Sai Constructiions, will be completed within six
months, or other time which may be agreed.
Total production of iron ore from Karnataka State was 12 million tonnes
in 1996, which was almost wholly exported in a raw state.
Banded haematite and magnetite quartzite are common rock types frequently
encountered in the Archaean greenstone belts of Karnataka. Commercially
valuable ore bodies are the result of residual concentration of iron in
the banded iron formation either through replacement of silica by iron,
or leaching of silica. Such processes acting over a long period of time
have given rise to massive ore bodies occupying the crest of hills and
elevated plateaus. (See Mineral Resources of Karnataka, B.P.Radhakrishna,
Geological Society of India, 1996). Neighbouring leases mine haematitic
iron ore at an average grade of 64% Fe.
Signing of this MOU presents the Company with an opportunity to investigate
potential iron ore mine development which is aimed at generating a cash
flow in the short to medium term.
Peter Kennewell
Managing Director
23rd April
2008
HIGH
GRADES FROM ROCK CHIP SAMPLES AT BUDDIGOWER SILVER / TIN FIELD
The Buddigower Silver
/ Tin Field, located south west of West Wyalong, in central NSW, includes
an undeveloped but rich silver and tin lode. Numerous shallow open pits
from which tin and silver were mined extend over a surrounding area of
2 km by 1 km. Four shafts were sunk in 1901 on rich lodes, but no substantial
production has since been reported.
Cluff sampling of mullock, surface scree and rock chips throughout the
Buddigower district has been carried out, with some very high grades of
silver and tin recorded. The highest assay results returned from the sampling
were 169.77 ounces of silver per tonne, and 5.53 % tin.
These impressive assays, along with the other results shown on the figures
below, confirm an extensive zone of silver and tin mineralization.

Twenty nine 15 metre
percussion drill holes by Ardlethan Tin NL were sunk in 1967 within the
area. While apparently not aimed at intersecting the lode, they yielded
anomalous tin assays in the surrounding rocks. Two holes 20 metres apart
intersected "yellow-brown soil" assaying 0.37% tin over 4.6
metres (from 10.7 m to 15.2 m), and 0.30% tin over 7.6 metres (from 6.1
m to 13.7 m), demonstrating potential for alluvial tin leads extending
off this silver/ tin lode.
Cluffs EL also covers the western part of the West Wyalong Gold
Field, and the Grellman silver/tin/gold workings. A review of available
information with a view to defining additional silver, gold and tin targets
within these areas is planned.
Peter Kennewell
Managing Director
The information in this report that relates to mineral
exploration or mineral resources is based on information compiled by Peter
John Kennewell, who is a corporate member of the Australasian Institute
of Mining and Metallurgy included in a list promulgated by the ASX from
time to time. Peter John Kennewell is a full time employee of Cluff Resources
Pacific NL and has sufficient experience which is relevant to the style
of mineralisation and type of deposit under consideration and to the activity
which he is undertaking to qualify as a competent person as defined in
the 2004 Edition of the "Australasian Code for Reporting of Exploration
Results, Identified Mineral Resources, and Ore Reserves". Peter John
Kennewell consents to the inclusion in this report of the matters based
on his information in the form and context in which it appears.
9th April
2008
LEVIATHAN
TIN MINE ASSAYS
Assay results from
drill holes LVDD 3 and 4 at the Leviathan Tin Mine, near Inverell, show
grades of up to 0.25% tin, 52 gm/tonne silver, 1.74% copper and 1.47%
zinc within a 3.7 metre mineralised zone. This interpreted near vertical
zone has a true thickness of approximately one metre. Mineralisation appears
to have preceded intrusion of a porphyritic granite, and assays of this
granite are awaited.
| Sample
Depth (metres) |
Tin
(Sn)
ppm or %
|
Silver
(Ag) grams/tonne
|
Copper
(Cu)
ppm or %
|
Lead
(Pb) ppm |
Zinc
(Zn)
ppm
|
| LV
DD 3 |
|
|
|
|
|
| 13.6 - 14 |
0.13
% |
23.5 |
0.78
% |
123 |
5090 |
| 14 - 15 |
0.25
% |
45.8 |
1.74
% |
71 |
1.16
% |
| 15 - 16 |
0.25
% |
27.5 |
1.07
% |
167 |
1.47
% |
| 16 - 17 |
0.10
% |
18.8 |
0.46
% |
0.13
% |
0.28
% |
| 17 - 17.3 |
418 |
52.5 |
0.90
% |
0.29
% |
0.48
% |
| 29 - 30 |
54 |
1.1 |
87 |
387 |
948 |
| 30 - 31 |
86 |
8.6 |
521 |
915 |
266 |
| 31 - 32 |
142 |
17.1 |
806 |
923 |
435 |
| 32 - 32.2 |
10 |
2.3 |
34 |
276 |
204 |
| |
|
|
|
|
|
| LV DD 4 |
|
|
|
|
|
| 42 |
85 |
< 0.5 |
33 |
39 |
225 |
| 50 |
117 |
< 0.5 |
33 |
38 |
412 |
| 58 |
143 |
1.3 |
10 |
218 |
824 |
| 67 |
7 |
< 0.5 |
9 |
22 |
41 |
Sample preparation
was by slabbing of core, crushing and grinding to 80% passing 75 micron.
Assays were by ALS Chemex, Brisbane by XRF (Tin) and ICP (Silver, Copper,
Lead).
LITTLE BYGOO DRILLING UPDATE
The second core hole at Little Bygoo, LB 4, located 10 km north of Ardlethan,
is drilling at a depth of 431 metres. It has not yet penetrated the targeted
tin bearing greisen zone.
Peter Kennewell
Managing Director
The
information in this report that relates to mineral exploration is based
on information compiled by Peter John Kennewell, who is a corporate member
of the Australasian Institute of Mining and Metallurgy included in a list
promulgated by the ASX from time to time. Peter John Kennewell is a full
time employee of Cluff Resources Pacific NL and has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as
a competent person as defined in the 2004 Edition of the “Australasian
Code for Reporting of Exploration Results, Identified Mineral Resources,
and Ore Reserves”. Peter John Kennewell consents to the inclusion
in this report of the matters based on his information in the form and
context in which it appears.
17th March
2008
RESIGNATION
OF CHAIRMAN
Mr Stephen Geoffrey
Gemell has resigned as Chairman and Director of Cluff Resources Pacific
NL and its subsidiaries, effective 5.00pm Monday 17 March 2008.
Mr Gemell advised the Company that the causes of this change of affairs
are several, but are related to pressure of other commitments. He took
the opportunity to thank management and staff for their efforts over his
period of office, and to wish the company all the best in its future endeavours.
Mr Gemell has agreed to continue his association with the Company as a
mining engineering consultant, should the Company so require. The Cluff
Board would like to thank him for his valuable contributions to the Chairmanship
over the past 5 years.
Scott Enderby
Company
Secretary
13th March
2008
FIRST
LEVIATHAN TIN MINE ASSAYS
Assay results from
the first two drill holes at the Leviathan Tin Mine, near Inverell, show
grades of up to 0.25% tin, 30 gm/tonne silver, and 0.79% copper
within a three metre mineralised zone. This near vertical zone has a true
thickness of one metre.
Mineralisation appears to be developed on the edges of
a porphyritic granite intrusion which has a true thickness of about five
metres, and extends for at least several hundred metres. A flat lying
zone zone of altered rock and quartz is developed, and appears to have
been worked by open cut on the lower part of a hill.
The porphyritic granite
intrusion was not initially assayed, as it is not usually tin bearing,
but is now being prepared for assay as it has now been shown to be closely
associated with tin, silver and copper mineralisation.

| Sample
Depth (metres) |
Tin
(Sn)
ppm
|
Silver
(Ag) grams/tonne
|
Copper
(Cu)
ppm
|
Lead
(Pb) ppm |
Zinc
(Zn)
ppm
|
| LV DD
1 |
|
|
|
|
|
| 18-19 |
5 |
<0.5 |
2 |
39 |
95 |
| 19-20 |
9 |
0.5 |
2 |
42 |
149 |
| 20-21 |
452 |
1.0 |
85 |
36 |
272 |
| 21-22 |
68 |
0.8 |
44 |
59 |
362 |
| 22-23 |
18 |
0.7 |
3 |
35 |
116 |
| 23-24 |
11 |
<0.5 |
3 |
76 |
196 |
| 24-25 |
0.247% |
30.0 |
0.79 |
191 |
842 |
| 25-26 |
0.204% |
18.8 |
0.46 |
33 |
246 |
| 26-27 |
0.014% |
25.7 |
0.63 |
78 |
570 |
| 27-28 |
91 |
2.2 |
178 |
48 |
379 |
| 28-29 |
5 |
0.7 |
14 |
53 |
142 |
| 29-30 |
17 |
0.6 |
56 |
45 |
123 |
| 30-31 |
12 |
<0.5 |
20 |
49 |
122 |
| 50-51 |
6 |
0.5 |
28 |
40 |
34 |
| 51-52 |
48 |
0.8 |
4 |
43 |
64 |
| 52-53 |
382 |
1.9 |
5 |
56 |
222 |
| 95-96 |
<5 |
0.6 |
4 |
38 |
33 |
| 96-97 |
12 |
<0.5 |
5 |
34 |
33 |
| |
|
|
|
|
|
| LV DD
1 |
|
|
|
|
|
| 9-10 |
10 |
0.5 |
456 |
39 |
213 |
| 10-11 |
10 |
0.8 |
382 |
29 |
129 |
| 11-12 |
6 |
<0.5 |
36 |
42 |
139 |
| 12-13 |
9 |
0.6 |
74 |
42 |
137 |
| 13-14 |
79 |
1.5 |
85 |
106 |
660 |
| 14-15 |
48 |
0.8 |
6 |
68 |
397 |
| 15-16 |
35 |
1.3 |
6 |
99 |
422 |
| 16-17 |
434 |
1.4 |
83 |
57 |
335 |
| 17-18 |
8 |
0.7 |
7 |
35 |
143 |
| 18-19 |
9 |
<0.5 |
3 |
39 |
101 |
| 19-20 |
10 |
0.5 |
5 |
41 |
92 |
| 40-41 |
15 |
0.5 |
3 |
34 |
67 |
| 41-42 |
23 |
1.2 |
3 |
133 |
400 |
Sample preparation was by slabbing of core, crushing and
grinding to 80% passing 75 micron. Assays were by ALS Chemex, Brisbane
by XRF (Tin) and ICP (Silver, Copper, Lead).
LITTLE BYGOO
DRILLING UPDATE
The first core hole
at Little Bygoo, LB 1, located 10 km north of Ardlethan, has been completed
at a depth of approximately 230 metres, having penetrated greisen rocks
known to carry tin in adjacent holes, between approximately 197 metres
and 220 metres. The samples are being prepared for assay. Hole LB 2, located
down dip and 130 metres to the northeast, is now drilling ahead at a depth
of 120 metres.
Peter Kennewell
Managing Director
The
information in this report that relates to mineral exploration is based
on information compiled by Peter John Kennewell, who is a corporate member
of the Australasian Institute of Mining and Metallurgy included in a list
promulgated by the ASX from time to time. Peter John Kennewell is a full
time employee of Cluff Resources Pacific NL and has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as
a competent person as defined in the 2004 Edition of the “Australasian
Code for Reporting of Exploration Results, Identified Mineral Resources,
and Ore Reserves”. Peter John Kennewell consents to the inclusion
in this report of the matters based on his information in the form and
context in which it appears.
27th February 2008
LEVIATHAN
DRILLING COMPLETED - LITTLE BYGOO DRILLING COMMENCES
Four diamond core
holes totalling 425 metres into the former Leviathan Tin Mine, 10 km south
of Inverell, have been completed. The resultant cores have been logged,
and intervals of up to three metres of greisen alteration within the granite
have been sent for assay. Initial interpretation of the mine geology is
in progress.

Little Bygoo Tin Mine
Drilling has commenced to evaluate the tin mineralisation open cut mined
by the Little Bygoo Tin Mine, 10 km north of Ardlethan in southern NSW.
The drilling target, the Little
Bygoo Greisen, was identified by Ardlethan Tin NL using open hole percussion
drilling during the 1970s and 80s, and is the extension to depth of the
tin bearing greisen which crops out in the formerly mined open cut, shown
above.
Its continuation at depth,
drilled and reported by Ardlethan Tin NL, is illustrated below. Cluff’s
drilling is targeting the continuation of this zone at greater depths,
initially between 140 metres and 450 metres. Ardlethan Tin NL’s
sampling method for cuttings from these drill holes has not been recorded,
and hence the reliability of these reported assays must be regarded as
uncertain.
The planned six holes are being
drilled to the east of the Hole P 326 greisen intersection, and are on
a one hundred metre grid.
A contractor is precollaring
these holes to depths of sixty metres through surficial sediments, and
setting casing into bedrock. Cluff’s rig is on site and preparing
to deepen these holes to up to 450 metres, to obtain diamond core, and
tin grades for the Little Bygoo Greisen.

Peter Kennewell
Managing Director
The information in
this report that relates to exploration targets is based on information
compiled by Peter John Kennewell, who is a corporate member of the Australasian
Institute of Mining and Metallurgy included in a list promulgated by the
ASX from time to time. Peter John Kennewell is a full time employee of
Cluff Resources Pacific NL and has sufficient experience which is relevant
to the style of mineralisation and type of deposit under consideration
and to the activity which he is undertaking to qualify as a competent
person as defined in the 2004 Edition of the “Australasian Code
for Reporting of Exploration Results, Identified Mineral Resources, and
Ore Reserves”. Peter John Kennewell consents to the inclusion in
this report of the matters based on his information in the form and context
in which it appears.
15th February
2008
Tin Presentation made at RIU Explorers Conference,
Perth
Click here
to open a presentation made by Peter Kennewell at the RIU Explorers Conference
in Perth. (Acrobat PDF 4 mb)
Notes and comments made on each slide are shown in addition to the graphics.
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