Company Profile

Capital Mining was formed in 2003 to consolidate the mineral property assets of Heemskirk Resources Pty Ltd (A.C.N. 085 881 232), Ablex Pty Ltd (A.C.N. 008 600 422) and later Chakola Gold Pty Ltd (A.C.N. 111 824 527). Seed capital was raised privately to accelerate exploration in four promising gold, base metals and rare metals mineral properties in southern and central New South Wales. Work led to the discovery of a potentially extractable gold, copper, lead, zinc and silver mineral deposit at Chakola near Cooma. Alluvial gold resources have been identified in the Craigie project area and inferred zirconium, niobium, thorium and rare metal resources are being investigated in the Temora area. Effort is being concentrated at Chakola where the gold and base metal mineralisation occurs along a 14km long volcanogenic massive sulphide (VMS) horizon. Extensive drilling programmes were completed in May 2004 and March 2005 and metallurgical testing has been undertaken. Conceptual mine plans have been drawn up, an application for a mining lease has been lodged, pre-feasability studies are in progress and work has commenced on preparation of an Environmental Impact Statement.