COPY OF FINAL PROSPECTUS - Mirabela Nickel

completed in October 2006. The RC drilling at Santa Rita was not included in the resource estimates as it was
completed after the commencement of the resource evaluation studies.
Summary Drilling Statistics Grouped by Drill Method
No DDH No RC No Auger All Total
Deposit DDH (m) RC (m) Auger (m) Holes M
Santa Rita 302 70,276.46 2 368.00 0 — 304 70,644.46
Diamond Core Drilling
The diamond drilling was predominantly carried out by Boart Longyear Geoserv. The rigs used were
sled-mounted LM-38’s and LM-44’s. The number of rigs on site at any one time varied between one and four.
One sled-mounted diamond drill-rig from GEOSOL (Geologia e Sondagens Ltda.) was also used on site from
April 4, 2006 until the end of this phase of drilling. Between September 17, 2004 and August 9, 2006,
192 diamond drillholes of early exploration/resource drilling were completed for a total of 41,911 metres. All
holes were drilled with HQ pre-collars and completed with NQ core. Drilling was completed in runs of
three metres.
All holes have been down-hole surveyed by either single-shot surveys or post-drilling via a north-seeking
gyroscope, or, by both of these methods. The single shot surveying was completed by Boart Longyear Geoserv
and the gyroscope surveying was completed by Downhole Surveys DHS Pty Ltd. from October to
December 2005.
Originally the single-shot surveys were taken at an initial down-hole depth of 10 metres, then at a 50 metre
depth, and subsequently at 50 metres down-hole intervals. This has since been modified to one survey at
10 metres, and then a survey every 30 metres down the hole until the end. The gyroscope surveying has generally
been completed inside the PVC casing post drilling, although a limited number of holes were surveyed inside the
drill rods. The gyroscope survey interval was three metres with surveys collected from the beginning of the hole
until just above the end of the hole or to the end of the PVC casing. Based on a review of the survey information
RSG Global considers all the data to be well established in 3D space.
Geotechnical logging has routinely been completed at Santa Rita under the supervision of geotechnical
consultants Dempers and Seymour Pty Ltd. A review of the sample recovery was completed by RSG Global
during the February 2006 site visit and excellent recovery was noted.
RC Drilling
A program of RC drilling has recently been commenced at Santa Rita however, little data currently exists.
RSG Global has not assessed this data collection. As such, this data has not been used in the formation of the
Mineral Resource estimate in the Technical Report.
Geosedna Perfurações Especiais S.A. has been contracted to complete the drilling with a W750 truck
mounted rig with air capability of 900cfm/350psi used. All drilling completed to date has been completed with a
5 1 ⁄2 inch face hammer.
RSG Global concluded the RC drilling performance was satisfactory with acceptable daily productivity
rates, sampling recovery and safety standards being achieved.
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