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Company Statement
Syndicated Metals Limited ("Syndicated", "the Company") listed on the Australian Securities Exchange (ASX) in December 2007 with the ASX Code "SMD".
The Company has a base metal focus with its principal projects in the Mount Isa region in Northwest Queensland, one of the world's premier base metal mining provinces.
Our vision is to deliver superior returns to shareholders through the discovery and development of mineral deposits.
The Company has:
- multi-commodity exposure to copper, molybdenum, gold, rhenium, uranium, phosphate, lead-zinc and silver
- an interest in the Kalman South Joint Venture near Mount Isa which hosts a substantial part of the Kalman molybdenum-copper-gold-rhenium deposit. (Syndicated's interest is fully funded to completion of a final feasibility study by our joint venture partner.)
- a large ground position in the Mount Isa Inlier prospective for copper-gold, lead-zinc and uranium deposits
- advanced copper targets (mostly 100% owned and/or managed by Syndicated) with the maiden copper-gold resource defined for the Barbara deposit in October 2008
- an early stage project near Exmouth in Western Australia with potential for phosphate, lead-zinc-silver and uranium
- a portfolio of phosphate projects in Queensland and Western Australia
$4.2 million in cash at September 30th 2008
Syndicated's cornerstone investor is Korea Zinc Company Limited, one of the world's largest zinc producers, which holds, through its subsidiary Sun Metals Corporation, a 10.5 percent interest in the Company.
Current Operations
Mount Isa Region
The Mount Isa Inlier is Australia's premier base metal province and is host to several major mineral deposits including the Mount Isa copper-zinc-lead-silver deposits, the George Fisher-Hilton zinc-lead-silver deposits, the Century zinc-lead-silver deposit, the Cannington lead-zinc-silver deposit and the Ernest Henry copper-gold deposit.
Syndicated holds gold and base metal prospects in the Mary Kathleen Fold Belt, located in the central part of the Mount Isa Inlier. The Mary Kathleen fold Belt contains a variety of significant mineral deposits including the Dugald River lead-zinc deposit, the Mount Roseby copper deposits, the Mary Kathleen uranium mine, the Tick Hill gold mine and the Duchess and Trekalano copper-gold deposits.
Kalman South Joint Venture
(molybdenum-copper-gold-rhenium)
The Kalman South Project comprises EPM13870, a joint venture between Kings Minerals NL and Syndicated. EPM13870 covers a significant portion of the Kalman molybdenum-copper-gold-rhenium deposit which is open at depth and has potential for extensions along strike. The tenement also contains a number of other targets prospective for copper-gold +/- molybdenum.
Kings has earned a 51% interest in EPM13870 by spending $4 million, and can now earn up to a 70% interest in the tenement by completing a final feasibility study. Syndicated is free-carried on the Kalman South Project until completion of a final feasibility study. Since commencement of the joint venture up to August 2008 Kings has drilled 59 holes for about 24,000 metres of mostly core drilling within EPM13870.
The Kalman deposit is hosted in a steeply dipping shear zone adjacent to the regional-scale Pilgrim Fault. The mineralization comprises chalcopyrite, molybdenite and pyrite within altered calc-silicates (sediments) of the Corella Formation now comprised dominantly of alkali feldspar, actinolite and chlorite.
The Mount Remarkable Project
(copper-gold, lead-zinc & uranium)
Syndicated's other interests in the Mount Isa region include the Mount Remarkable Project, located around 60 kilometres northeast of Mount Isa. This project, which comprises mostly contiguous tenements covering around 900 square kilometres, is considered prospective for copper-gold, sediment hosted lead-zinc-silver and uranium mineralization.
EPM16112 and EPM16197 cover the northwestern part of the Barbara copper prospect and the area surrounding the Blockade copper mine and are in joint venture with Mount Isa Metals Limited (the Leichhardt Joint Venture), with Syndicated holding 51% and management.
The Mount Remarkable Project tenements are mostly situated on the western side of the Mary Kathleen Fold Belt adjacent to the Mount Remarkable Fault zone.
Exploration to date has focussed on RC drilling of established copper targets along with regional soil and rock chip geochemical sampling programs over the terrain adjacent to the principal structural zones and magnetic anomalies.
Exmouth Project
(silver, zinc, uranium, phosphate)
Syndicated's Exmouth project is located about 1000 kilometres north of Perth and 50 kilometres east of Coral Bay, between the Exmouth Gulf and the Minilya Roadhouse.
The project is considered to have potential for zinc-silver mineralization, phosphate and sandstone-hosted uranium mineralization similar to the Manyingee uranium deposit located 100km to the northeast.
Syndicated has the rights to a 100% interest in three granted exploration licences (E08/1413, E08/1739, and E08/1740), covering a total area of 480 square kilometres and recently applied for a new exploration license (E08/1854) of 180 square kilometres that covers extensions of the prospective stratigraphy at the southern end of the project.
The project tenements cover a sequence of Tertiary and Cretaceous sediments close to the axis of the Giralia Anticline in the Carnarvon Basin. The sequence is cut by the major north to northeast trending Giralia and Marilla Faults and several northwest trending faults.
Georgina Basin and Dandaragan Phosphate Projects
Several tenements in districts containing known phosphate deposits have been selectively added to Syndicated's portfolio.
The Company has submitted three tenement applications (EPM17676, EPM17678 and EPM17689) covering 716 square kilometres targeting phosphate in the Georgina Basin in northwest Queensland. These applications are located over areas of thin recent cover masking the Cambrian sediments which host the known phosphate deposits and occurrences within the Georgina Basin.
Two tenement applications (E70/3484 and E70/3497) covering 360 square kilometres were submitted over interpreted extensions of the prospective phosphate bearing units near the Dandaragan phosphate deposits, 175 kilometres north of Perth. The Dandaragan deposits are reported as being of similar age and form as the phosphate occurrences in the Exmouth project.
The results of historical phosphate exploration undertaken on these tenement applications are presently being compiled. Syndicated will seek joint venture partners for the phosphate projects in order to focus activity on its more advanced copper projects.
Geographical Spread
Board of Directors and Key Management
| Bruce McCullagh | Executive Chairman and Company Secretary |
| Russell Davis | Managing Director |
| Jan Hope | Non-executive Director |
| Andrew Dinning | Non-executive Director |
| Ki Deok (KD) Park | Director |
Company AddressLevel 1, 68 Hay Street
|
Additional Address/Key ContactPostal Address: GPO Box 2810 Perth Western Australia 6000 |
CapitalOrdinary Shares; 30.5 million
|
Annual General MeetingNovember , Perth | Year EndJune 30th |
Major Shareholders
| Korea Zinc (Sun Metals) | 10.5% |
| Russell Davis | 9.9% |
| Bruce McCullagh | 9.4% |
| Mark Whittle | 9.4% |
Related News
04/03/10 - Syndicated Metals Moves Ever Closer To A Production Decision On The Barbara Copper Project In Queensland09/09/09 - Syndicated Metals May Be Next On The List For Sophisticated Investors Looking To Cash In On A Spate Of Good News In Australia
22/05/09 - Syndicated Metals Reveals Itself As A Descendant Of ASARCO Operating In Elephant Country
Most Recent Statement
12/03/10 - Half Yearly Report and Accounts08/03/10 - Investor Update
01/03/10 - BARBARA RESOURCES INCREASE TO 47,000 TONNES OF COPPER MAIDEN RESOURCE REPORTED TO JORC STANDARDS BASED ON EARLY STAGE DRILLING AT BARBARA NORTH LODE
15/02/10 - Appointment of Director
03/02/10 - Appendix 3B
28/01/10 - Prospectus