Legusulum

The tenement includes the AIMM identified Legusulum porphyry copper-gold-molybdenum deposit and several epithermal gold prospects. The area is prospective for copper-gold mineralised intrusives and epithermal gold volcanic centres.

OWNERSHIP

Legusulum is owned 100% by Foyson Resources.

LOCATION AND LICENSES

Legusulum is located on the west coast of central New Ireland approximately 110km west of Lihir.

There is one exploration licence application (ELA 1638, 1163 km²) that was lodged on 18th December 2007, and a Mining Warden hearing was held in late 2010. Feedback from the Chief Mining Warden has been positive and the licence is expected to be granted during 2011.

WORK COMPLETED Pre-Foyson Resources

Gold has been identified in rock chips with up to 6.1g/t Au detected.

Swiss Aluminium drilled 13 diamond drill holes totalling 1500m into the top of the leached cap in the early 1970’s. The average grade was 0.25% Cu and recommendations were made to conduct deep drilling and ground geophysics. These were never carried out.

WORK COMPLETED BY Foyson Resources

No work has been completed pending the grant of the exploration licence.