Woodlawn Retreatment Project
 
TriAusMin has evaluated the potential to retreat in excess of 10 million tonnes of tailings that were deposited in three dams at Woodlawn, with the aim of demonstrating the feasibility of the tailings retreatment operation, the stand alone Woodlawn Retreatment Project feasibility study was completed in early July 2008.
 
Before taking a final development decision, the Company will incorporate into the study:
  •  An incremental Resource of 3.1 Mt of tailings (i.e. an increase of 36%) planned for recovery from the North, South and West Tailings Dams. Metallurgical test work is in process to confirm the expectation that the metallurgy of the material contained in the North Tailings Dam is consistent with tailings from the South and West Tailings Dams.
  • Results from a technical peer review process that will be undertaken to ensure optimum outcomes in terms of engineering, procurement and contracting strategy.
  • Results of discussions with potential off-takers of zinc, copper, and lead concentrates to firm up the potential marketing arrangements.
  • Results of review of alternative funding strategies and the selection of a preferred funding strategy.
Upgraded WRP Mineral Resources
 
Following receipt of assays from drilling completed in December 2007, Mineral Resource estimates have now been finalised and or revised for the three Tailings Dams from which tailings will be recovered and processed as part of the Woodlawn Retreatment Project. 
Based on an independent assessment performed by GeoRes the combined tonnage of Measured, Indicated and Inferred Resource contained in the North, South and West Tailings Dams has been increased by 36%, and is made up as follows:

TAILINGS DAM SOUTH Grade   Metal Content
    Zn Cu Pb Ag Au   Zn Cu Pb Ag Au
  Tonnes (%) (%) (%) (g/t) (g/t)   (t) (t) (t) (kg) (kg)
Measured 2,430,000 2.60 0.48 1.19 24.6 0.22   63,180 11,664 28,917 59,729 535
Indicated 1,170,000 2.44 0.48 1.19 23.2 0.22   28,548 5,616 13,923 27,156 257
Inferred 900,000 2.32 0.47 1.19 23.9 0.23   20,880 4,230 10,710 21,510 207
Total 4,500,000 2.50 0.48 1.19 24.09 0.22   112,608 21,510 53,550 108,395 999
                         
TAILINGS DAM WEST Grade   Metal Content
    Zn Cu Pb Ag Au   Zn Cu Pb Ag Au
  Tonnes (%) (%) (%) (g/t) (g/t)   (t) (t) (t) (kg) (kg)
Measured 2,050,000 2.00 0.60 1.46 35.7 0.39   41,000 12,300 29,930 73,103 800
Indicated 1,540,000 1.93 0.60 1.51 36.9 0.39   29,722 9,240 23,254 56,888 601
Inferred 480,000 1.83 0.61 1.47 33.7 0.38   8,784 2,928 7,056 16,171 182
Total 4,070,000 1.95 0.60 1.48 35.91 0.39   79,506 24,468 60,240 146,162 1,583
                         
TAILINGS DAM NORTH Grade   Metal Content
    Zn Cu Pb Ag Au   Zn Cu Pb Ag Au
  Tonnes (%) (%) (%) (g/t) (g/t)   (t) (t) (t) (kg) (kg)
Measured 830,000 2.35 0.43 1.43 35.5 0.29   19,505 3,569 11,869 29,440 241
Indicated 1,380,000 2.68 0.45 1.44 39.9 0.29   36,984 6,210 19,872 55,117 400
Inferred 870,000 2.03 0.33 1.33 36.8 0.25   17,661 2,871 11,571 32,025 218
Total 3,080,000 2.41 0.41 1.41 37.85 0.28   74,150 12,650 43,312 116,582 858
                         
TOTAL   Grade   Metal Content
    Zn Cu Pb Ag Au   Zn Cu Pb Ag Au
  Tonnes (%) (%) (%) (g/t) (g/t)   (t) (t) (t) (kg) (kg)
Measured 5,310,000 2.33 0.52 1.33 30.6 0.30   123,723 27,612 70,623 162,274 1,593
Indicated 4,090,000 2.33 0.52 1.40 34.0 0.31   95,297 21,268 57,260 139,224 1,268
Inferred 2,250,000 2.10 0.44 1.30 31.0 0.27   47,250 9,900 29,250 69,705 608
Total 11,650,000 2.29 0.50 1.35 31.86 0.30   266,270 58,780 157,133 371,202 3,468

It should be noted that a proportion of the tailings contained in all dams is currently located under acidic water precluding drill rig access to these areas, hence the relatively significant proportion of the Resource which has been classified as Inferred particularly in the North and South dams.  Once full access to the tailings has been obtained and drilling completed, it is expected that the Inferred Resource estimates will be upgraded to Indicated and or Measured Resource status.