Base Metals (Ni, Cu, Zn)
- Strategic land position (>40km strike) in the Mt Eureka Greenstone Belt, North Eastern Goldfields, adjacent to Rox Resources Ltd recent Nickel discovery at Fisher East. VTEM survey over Cullen's ground planned to commence in February 2013.
- 100% of 8199 km² applications and tenure in Namibia near Tsumeb and in the Kalahari Copper Belt (KCB). All EPL's granted: aeromagnetic interpretation completed and targets delineated in the KCB. Final structural interpretation for Tsumeb area commissioned and field campaigns planned for 2013.
- Can earn 80% in Zn-Mo-Re prospect in British Columbia, Canada: HeliTEM survey completed; gossan exposed in trenches with channel samples up to 3m @ 9% zinc. Initial reconnaissance drilling intersected massive and semi-massive sulphide. Further drilling is planned for 2013.
- Strategic land position for copper near North Tuckabianna: Tenement boundary is ~ 600m along strike from the high-grade copper discovery at Hollandaire announced by Silver Lake Resources Ltd (ASX:SLR) on 10th November 2011. Drill testing of several VTEM conductors east of Hollandaire planned for 2013.
- 30% of 70Mt @ 54.8% Fe Channel Iron Deposit at Catho Well, Pilbara, in API JV. Subject to a 'mine gate' sales agreement, Cullen’s share equates to potential future production of 1.5Mt of Iron Ore per annum for 14 years. RFC Ambrian Ltd, as corporate advisors, is continuing to assist Cullen in matters relating to funding and/or value realisation alternatives for its interest in this project.
- 20% share of Wyloo & Paraburdoo Bedded Iron Deposit, Pilbara, with Fortescue: Maiden Inferred Resources of: 16.9Mt @ 57.11% Fe at Wyloo.
- 100% of 88 km² of applications in Kiruna iron ore region, Sweden: Near infrastructure and active exploration by other parties.
- Canning Basin Coal Project with Advaita Resources: 909km² of tenements 4,200m drill program completed – coal (0.19-0.55m thick) intersected in four holes.
- 100% of 1193km² of tenure in the Galilee Basin, Queensland: JV partner sought.
- 29 APR Quarterly Report for the period ending 31 March 2013 (2.6MB pdf)
- 22 MAR VTEM survey identifies multiple conductors, Mt Eureka Project (1MB pdf)
- 06 MAR Placement raises $2.2m (703KB pdf)
- 27 FEB Helicopter mobilized for VTEM survey and further drilling of Cullen’s “AK47” nickel prospect planned at Mt Eureka Project. (820KB pdf)
- 19 FEB Strong nickel geochemical anomalies located on Cullen’s Mt Eureka Project (698KB pdf)
ASX Code: CUL
Last updated 22-May-2013 12:47:01
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- Issued Shares: 818m
- Market Cap: $12.27m
- Cash (Dec 12): $1.4m