Reconnaissance Projects

The company maintains an interest in a number of reconnaissance-stage projects across the broader geographic regions in which it operates. By nature these projects are at an early stage of development and generally attract a low level of exploration expenditure.

The focus for these ‘reconnaissance' projects areas is to advance exploration concepts to the point where prospective opportunities warrant and receive an expanded exploration program whilst lesser opportunities are rejected.

The Company currently maintains two active reconnaissance-stage projects:

Toolebuc Project

The Toolebuc Project is located 300km north-east of Mt Isa north of the township of Julia Creek.

The project was originally conceived to assess potential for redox-front uranium deposits within the sedimentary Toolebuc Formation a regionally extensive marker horizon. Detailed review of regional exploration data during 2009 downgraded the prospectivity for uranium.

MET retains a contiguous block of tenements at the western end of the former project area (totalling 960km²) that are situated adjacent to significant third party molybdenum and vanadium deposits also hosted within the Toolebuc Formation.

MET is presently undertaking a review the relevant markets to assess the economic significance of the retained tenement position.

Clermont Project

The Clermont Project comprises 1,084km² of 100%-owned tenements located approximately 300km west of Rockhampton in central Queensland.

The project tenements are centred on and around the southern end of the Neoproterozoic to Cambrian age Anakie Inlier.

The project area was acquired to test potential for uranium-associated polymetallic deposits assumed to be evidenced in part by regional airborne radiometric anomalism.

Additional field work is required to assess remaining airborne radiometric anomalies within the project area.

• Toolebuc - Location.
• Toolebuc - Radiometric Image.