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Gold/Mining/Energy : Caldara's Diamond CDR,M -- Ignore unavailable to you. Want to Upgrade?

To: peter dumbrille who wrote (260)	4/27/1999 11:16:00 PM
From: Dag	Respond to of 303

Overview of the company (from John Shepherd) Subject: Caldera Res. Overview Date: Tue, 27 Apr 1999 16:01:07 -0700 Some individuals were unable to open the word document in which I mailed earlier today. The text version follows. CALDERA RESOURCES N.L. ACN 062 603 123 Suite 8, 1 Charles Street South Perth 6151 Western Australia Telephone: 08 9368 2800 Fax: 08 9368 2661 Following the merger of Caldera Resources Inc. with Remington Resources N.L., the company has seven diamond exploration projects under active investigation. One of these, the Tabletop East Project is joint ventured with Stockdale Prospecting Ltd., the Australian subsidiary of DeBeers. During the forthcoming winter field season, these projects will be reporting an increasing volume of exploration results. To assist shareholders appreciate the significance of these reports, the company wishes to summarize the current status of each of these projects. 1. ABMINGA PROJECT-SOUTH AUSTRALIA-DIAMONDS The Abminga Project comprises a contiguous group of 8 Exploration Licences aggregating 2983 square kilometres centered in the far north of South Australia, approximately 450 kilometres south-southeast of Alice Springs. Abminga was Caldera's initial exploration project. The first stages of exploration met with success with kimberlite indicator minerals and possible kimberlite-derived volcanics reported in drill testing of aeromagnetic anomalies over a wide area. The mineral chemistry of the indicator minerals indicated good potential for the presence of diamonds. Two small macrodiamonds were reported from one target. However, diatremes have not been discovered underlying any of the magnetic anomalies tested to date. Recent re-evaluation of the exploration data has pointed to similarities between Abminga and the Forte a la Corne kimberlite field in Saskatchewan. This similarity has raised the possibility of buried diamond placer deposits as an exploration target in addition to pipe targets. Recent magnetic modeling of aeromagnetic data identified a group of aeromagnetic anomalies in the western part of the project area as having good exploration potential. These targets will be evaluated in the coming field season. 2. ABMINGA SOUTH PROJECT-SOUTH AUSTRALIA-DIAMONDS The Abminga South Project comprises two separate Exploration Licences aggregating 300 square kilometres located 20 kilometres south of the principal Abminga Project area. The geological-structural setting for these Licences appears different to that of the Abminga Project area and they contain aeromagnetic anomalies with markedly different characteristics. The Abminga South Project area is situated on, or near to, the margin of the Gawler Craton and the magnetic anomalies exhibit a greater amplitude than anomalies in the Abminga Project area. These will be investigated during the coming field season. 3. TABLETOP PROJECT-WESTERN AUSTRALIA-DIAMONDS The Tabletop Project area was one of the high quality diamond exploration projects in the east Pilbara region of Western Australia acquired in the merger with Remington Resources N.L. The Project comprises a group 11 Exploration Licences aggregating 801 square kilometres centred 440 kilometres east-northeast of the iron ore mining centre of Newman. The Tabletop location was targeted for diamond exploration by Remington on the basis of regional geological and structural characteristics that showed potential for the presence of kimberlite or lamproite pipes. Reconnaissance surface sampling that reported widespread kimberlite indicator minerals validated the exploration concept. An aeromagnetic survey carried out by Remington identified 45 aeromagnetic targets with characteristics consistent with a pipe source. Seven aeromagnetic anomalies with pipe-like characteristics were loam sampled and these reported additional kimberlite indicators which include chrome spinels and chrome pyrope garnets. 4. TABLETOP EAST PROJECT-WESTERN AUSTRALIA-DIAMONDS DeBEERS JOINT VENTURE An extension of the Tabletop aeromagnetic coverage to the east identified an additional 14 targets. On the 25th September 1998, Remington entered a joint venture with Stockdale Prospecting Limited, the Australian subsidiary of DeBeers. The Tabletop East Project area covers an area of influence of 2150 square kilometres, which also includes one Exploration Licence. The joint venture allows Stockdale to earn a 51% interest by expending a total of $A 1 million within three years of the commencement date. Stockdale may then earn a further 24% interest, taking its interest to 75%, by expending an additional $A 4 million within 5 years of the commencement date. Stockdale recently completed a detailed aeromagnetic/radiometric survey over a group of seven aeromagnetic anomalies identified by a previous survey. The detailed survey comprise kilometre square blocks over each anomaly with a line spacing of 50 metres and a sensor height of 20 metres. Targets will then be selected for sampling and processing for indicator minerals. 5. GUNANYA PROJECT-WESTERN AUSTRALIA-DIAMONDS The Gunanya Project comprises three Exploration Licences aggregating 213 square kilometres located approximately 135 kilometres west of the Tabletop Project area. Remington's re-appraisal of a previous regional search for diamonds identified at least 12 magnetic targets in the Gunanya area that appeared to have good exploration potential. Previous work carried out in 1993 by C.R.A. Exploration Pty Ltd on selected anomalies reported chromite in the heavy mineral suite and two microdiamonds from one sample site. No follow-up work was undertaken by this company. Selected parts of the Licences were included in an aeromagnetic survey flown by Remington to confirm the anomalies previously defined. A loam sampling program was carried out over three targets reported kimberlite indicators including abundant chromites. More recently, Caldera has completed a detailed aeromagnetic survey to better define one target and to prioritize others for future exploration. 6. BOBBYMIA PROJECT-WESTERN AUSTRALIA-DIAMONDS The Bobbymia Project comprises two exploration Licences aggregating 39 square kilometres located approximately 100 kilometres west of the Gunanya Project area. The licences cover aeromagnetic anomalies identified by the previous regional diamond exploration program. The Licences are held jointly between Caldera Resources N.L. and Dioro Exploration N.L. Dioro is not an associated company of Caldera Resources N.L. 7. RASON PROJECT The Rason Project comprises four Exploration Licences totaling 270 square kilometres, located in the Great Victoria Desert, approximately 400 kilometres northeast of the regional mining centre of Kalgoorlie. Caldera applied for these Licences on the basis of regional aeromagnetic data recently released by the Australian Government. The data indicated that the regional geological and structural environment in the Rason area is favorable for kimberlite emplacement and indicates good exploration potential for diamonds. 8. OODNADATTA PROJECT-BASE METAL-SOUTH AUSTRALIA The project comprises two Exploration Licences aggregating 456 square kilometres located 40 kilometres west and northwest of the regional South Australian town of Oodnadatta. A reconnaissance aeromagnetic survey identified 14 strong magnetic anomalies that may be due to massive sulphide mineralisation in the Proterozoic basement that underlies a thin sedimentary cover. As base-metal and gold exploration does not form part of Caldera's core exploration activities, the company is seeking joint venture participation with major gold and base metal exploration groups. Jason Shepherd President & C.E.O., CCC Creative Capital Corp. 250-717-1910 Phone 250-717-1909 fax 250-718-1910 Cell ********************************************************** Canadian representative for Caldera Resources Inc.(CDR.M) calderares.com ******************************************************** ************************************************************************ ******** * Legal Stuff * This email is confidential and intended for the recipient only. No reproducion of the above is permitted whatsoever without the sole consent of the author. CCC Creative Capital Corp, is not a registered Investment Adviser or a Broker/Dealer. Readers are advised that the above comments are issued solely for information purposes and is not constructed as an offer to sell or the solicitation of an offer to buy. The opinions and analysis included herein are based from sources believed to be reliable and in good faith but no representation or warranty, expressed or implied is made as to their accuracy, completeness or correctness. Readers are urged to consult with their own independent financial advisors with respect to any investment. All information contained in this report should be independently verified with the companies mentioned. As an investor, one should always use their best efforts in completing due diligence. Copyright CCC Creative Capital Corp, 1999. All Rights Reserved ************************************************************************** *********