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Woodlawn Zinc-Copper Projects

The Woodlawn Zinc-Copper Projects is based around the old Woodlawn mine site which is located around 30 kilometres south of Goulburn and 200 kilometres south-west of Sydney.

From 1978 to 1998, approximately 13.8 million tonnes of ore from open pit, underground and satellite deposits was processed at the site at a grade of 1.6% copper, 3.6% lead, 9.1% zinc, 74 g/t silver and 0.5 g/t gold. The mine was shut in March 1998 due to prevailing low metal prices and corporate issues.

Metal prices at the time of mine closure in March 1998 were substantially below the current level, as shown by the table below.

Metal

Unit Values

Price at Mine Closure (March 1998)

Price 1/5/08

% Change

Copper

USD/t

1,772

7,760

338

Lead

USD/t

570

2,025

255

Zinc

USD/t

1,100

3,756

241

Gold

USD/oz

301

683.50

127

Silver

USD/oz

6.50

13.43

107

 

Project Vision

The vision is to create at Woodlawn a long-life mineral processing business that operates in the lowest cost quartile to profitably produce a variety of metals, metal salts and mineral products.

Woodlawn Mining Lease (SML 20 – 100% interest in minerals)

In late 2006, Tri Origin reached agreement with Veolia Environmental Services (Veolia) and the administrators of Denehurst Ltd, the mine’s previous operator, for the transfer mining lease SML 20 to Tri Origin prior to or upon completion of a feasibility study.

The Company believes that in the longer term, further synergies could exist between Veolia’s operations at the site and potential Tri Origin developments.

Potential for Development

Woodlawn has the potential to sustain a long-life, profitable mining and processing operation, producing a range of base and precious metals, along with associated industrial mineral products.

The Company is focussed on achieving short-term cash flow from the WZP through the potential redevelopment of a 300,000 to 400,000 tonnes per year underground mining operation (WUP) and the potential retreatment of in excess of 10 million tonnes of tailings (WRP) from previous processing.

Subject to the results of a bankable feasibility study currently underway, the Company plans to commence the development phase of the project during the second half of 2008.

Importantly, Tri Origin is taking a long-term view of the region and has a controlling interest in over 60 kilometres of strike length of prospective Silurian rocks within a major zinc province in the Woodlawn District.

Project Evaluation

Tri Origin is currently evaluating the Woodlawn Zinc-Copper Projects (WZP), comprising:

- Woodlawn Retreatment Project (WRP) - tailings retreatment operation

- Woodlawn Underground Project (WUP) – redevelopment of the underground mine

The bankable feasibility study is now scheduled to be completed in the first half of calendar 2008, with project development expected to commence in the second half of 2008.
  It is planned that the WRP would be developed initially and that the WUP would be integrated thereafter.