avoca resources ltd

AVOCA RESOURCES LTDThe Rigs are Rattling in South Australia

Sydney Mining Club4 March 2004

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA, and where to in 2004?Summary

Presentation Outline.

Avoca is an aggressive junior explorer.Diamond Drilling1,397 metresRC Drilling6,064 metresAircore Drilling14,205 metresRAB Drilling24,143 metresAuger Drilling5,815 holesSoil Sampling6,444 samplesGravity Surveys4,583 stationsSurface EM Surveys98 line km ..all since listing in April 2002.

..with a quality portfolio in two of Australias highest endowed provinces

Over 10,000km2 in Australias richest copper belt , being the Olympic Copper-Gold Province in SA, and

Almost 8,000km2 in the Eastern Goldfields of WA.mostly in free-carried JVs with Gold Fields, Placer Dome, Harmony, Teck Cominco, Sons of Gwalia and Mines & Resources.

Avoca corporate overview.

ASX CodeAVOIssued Securities64m shares (58m quoted)9.8m unlisted optionsMarket Capitalisation$10m ($3m in cash)Major Shareholders - Gold Fields (11%)(Top 20 own 44%) - Kurana (7%) Staffing MD, EM, SG,TGM, Ac(pt)

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA?Where to next for Avocas SA quest?Summary

Presentation Outline.

Recognising an opportunity and moving very fast..Prominent Hill:100m @ 2% Cu announced

..to secure the major position in Australias richest copper belt.Within 24 hours of the Prominent Hill announcement, Avoca became the dominant lease-holder with 16,000km2 in what later became known as Olympic Copper-Gold Province.Applications by fax and a credit card bill of ~$15K..

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA and where to in 2004?Summary

Presentation Outline.

.smart geochemistry and geophysics.Northern segment of holding was principally geochemistry driven. -utilising innovative geochemical techniques able to see through the rocks which bury mineralisation.

.smart geochemistry and geophysics.Southern segment of holding was geophysically driven.combination of magnetic and gravity surveys collected both by government agencies and Avoca.

An example of innovative geochemistry. Gravity Magnetics (regional only) 1979 drill hole intersected 14m @ 0.5% Cu at 280m depth. Avoca collected partial leach geochemistry over drill hole to see if technique can see through cover rocks.

Geochemistry over drill hole containing buried mineralisation shows strong surface anomalyDrill hole location

Enzyme_halogens

20903522340.1

19743586741700.8

19431589339484.59

27955292652674.43

20630772339762.12

25091531450709.91

27345398949276.68

42267005225.83

226547703915.66

14619232930950.69

20896916741714.43

493744466505.7

22149137946655.53

27061146157456.39

34314143468675.58

29953303760887.94

6206140312184.61

Br

I

Cl/100

Northing

ppb

Wandearah - Enzyme Leach

Enzyme_conicuzn

11033209

-10-1117

-101232

-103120

312107

301126

193129

2614179

17225205

3235175

-101138

5096190

-10271

-102101

-10293

-10191

426114

Zn

Pb

Cu

Northing

ppb

Wandearah - Enzyme Leach

Enzyme_ox

241011457

4427-100

5930-100

4322-100

4527-100

5225-100

4837-100

1726315

181242496

3820279

5026-100

5037301

3627-100

4826-100

4632-100

5328-100

4132468

As

Rb

SQTi

Northing

ppb

Wandearah - Enzyme

Enzyme_REE

478316731641521227-1523

25-13-1-1-1-1-1-1-1-1-11-1

58172-11-11-1-1-1-11-1

36-14-1-1-1-1-1-1-1-1-11-1

4715-1-1-1-1-1-1-1-1-11-1

35-14-1-1-1-1-1-1-1-1-12-1

611292-12-11-1-1-1-11-1

21458369271613-122-1

4210311469381714-1324

1738523514-14-12-12-1-1

25-13-1-1-1-1-1-1-1-1-11-1

10253133-12-12-11-11-1-1

411171-11-1-1-1-1-1-11-1

37-141-1-1-1-1-1-1-1-1-1-1

49161-11-11-1-1-1-11-1

26-14-1-1-1-1-1-1-1-1-11-1

1534522514-13-12-12-1-1

La

Ce

Pr

Nd

Sm

Eu

Gd

Tb

Dy

Ho

Er

Tm

Yb

Lu

Hf

Northing

ppb

Wandearah Enzyme Leach

Chart1

231

-18

16

-16

-113

-19

-19

8-1

152

44

-17

313

-12

-14

-13

-18

54

Th

U

Wandearah_orient_enzyme_joined

Samp_NoEastingNorthingMGA_ZoneSQLiSQBeSQClCl/100SQScSQTiVMnCoNiCuZnGaGeAsSeBrRbSrYZrNbMoRuPdAgCdInSnSbTeICsBaLaCePrNdSmEuGdTbDyHoErTmYbLuHfTaWReOsPtAuSQHgTlPbBiThU

WD177725006301260MGA53104-202340102340.1-1001457311237010112720911023224-30209010111325485316-1-10.52-0.219-13525351478316731641521227-1523-12-0.1-1-1-0.1-1-133-1231

WD167725006301760MGA53233-20417008041700.8-100-1006218523453117-10-1-1445119743271473835-1114-1-1-0.20.2-0.2-18-15867-126725-13-1-1-1-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-1-1-1-18

WD157725006302260MGA53306-20394845939484.59-100-10059879458108232-10-1-159621943130830169-1217-1-1-0.20.6-0.2-19-15893-140558172-11-11-1-1-1-11-1-13-0.1-1-1-0.1-1-11-116

WD147725006302760MGA53241-20526744352674.43-100-10059319084864120-101-1436427955221378748-142-1-1-0.20.5-0.2-112-12926-119136-14-1-1-1-1-1-1-1-1-11-1-13-0.1-1-1-0.1-1-13-1-16

WD137725006302860MGA53298-20397621239762.12-100-10061515453313210731-1-1455620630273992249-1106-1-1-0.20.4-0.2-14-17723-1894715-1-1-1-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-12-1-113

WD127725006302960MGA53631-20507099150709.91-100-10051116503811112630-1-1525825091253321236-1113-1-1-0.20.6-0.2-15-15314-116235-14-1-1-1-1-1-1-1-1-12-1-12-0.1-1-1-0.1-1-11-1-19

WD117725006303060MGA53375-20492766849276.68-100-10059922822811612919-1-1485427345372414376-1160-1-1-0.20.3-0.2-18-13989-1109611292-12-11-1-1-1-11-1-12-0.1-1-10.1-1-13-1-19

WD107725006303160MGA53126-205225835225.83-10031520225279076179264-1173342262612682527-140-1-10.61.6-0.2-17-1700111421458369271613-122-1-12-0.1-1-1-0.1-1-114-18-1

WD187725006303260MGA53162-203915663915.6611724963002918981622051722621832226512483834117568-1-10.50.3-0.224-1477062124210311469381714-1324-13-0.1-1-1-0.1-1-125-1152

WD027725006303360MGA53378-20309506930950.69-10027950818154382175323-13835146192038011825131-1-10.41.4-0.2-110-12329-11251738523514-14-12-12-1-1-12-0.1-1-10.1-1-135-144

WD037725006303460MGA53583-20417144341714.43-100-10022573852576138-10-1-1504520896261074324-1147-1-1-0.20.3-0.2-14-19167-19825-13-1-1-1-1-1-1-1-1-11-1-13-0.1-1-1-0.1-1-11-1-17

WD047725006303560MGA53262-206505706505.7-100301979784561061905095-1504649373722291121259-1-10.21-0.2-11414446131010253133-12-12-11-11-1-1-14-0.1-1-1-0.1-1-16-1313

WD057725006303660MGA53323-20466555346655.53-100-1004731870224071-10-1-1364322149271213062-129-1-1-0.2-0.2-0.2-14-11379-1260411171-11-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-12-1-12

WD067725006303760MGA53368-20574563957456.39-100-10068516512350101-101-1484127061261340144-126-1-1-0.2-0.2-0.2-17-11461-123637-141-1-1-1-1-1-1-1-1-1-1-12-0.1-1-1-0.1-1-12-1-14

WD077725006304260MGA53299-20686755868675.58-100-1003802228224993-101-1465834314321482153-128-1-1-0.2-0.2-0.2-15-11434-119049161-11-11-1-1-1-11-1-11-0.1-1-1-0.1-1-12-1-13

WD087725006304760MGA53359-20608879460887.94-100-1005681771285891-10-1-1535129953281532533-185-1-1-0.2-0.2-0.2-15-13037-124126-14-1-1-1-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-11-1-18

WD097725006305260MGA53327-20121846112184.61-10046867413713776114426-1413062063217271727235-1-10.50.7-0.2-15-1140311851534522514-13-12-12-1-1-13-0.1-1-1-0.1-1-16-154

..Avoca then completed extensive geochemical coverage to test Nth block. In excess of 11,000km2 surveyed. One sample collected every 4km. Four areas showed coherent and strongly anomalous copper-gold-REE anomalism on surface at: Myall Hill, Shore Hill, Pernatty and Reordan.Provides for ground rationalisation strategy.

.....over ground like this, sometimes!

The application of geophysics in the search for Cu-Au.Magnetics proves very useful for identifying major faults that control location of zones of rock that may host mineralisation. - eg Pine Point Fault and Port Julia prospect on the Yorke Peninsula

PararaMinePort JuliatargetHillside Mine

The application of geophysics in the search for copper-gold. - Both the Ernest Henry deposit and Avocas Glensea Prospect (east coast of Eyre Peninsula) show similar geophysical features: large magnetic complex against non-magnetic granite.

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA and where to in 2004?Summary

Presentation Outline.

Olympic Dam style breccia at Port JuliaPJD1

First Avoca drill hole into 6km long gravity anomaly intersects Olympic Dam-style breccia. *First occurrence on Yorke P.Second hole commenced yesterday, 2.5km from first hole.

PJD1 176.2m: Chalcopyrite in haematitic breccia

PJD1 183.4m: Red haematite breccia clasts withsteely haematite matrix

Drilling PJD1 at Port Julia, June 2003

MOORE GEOPHYSICSNew work at Port Julia involves 3D imagery of Avocas gravity d