![]() ![]() I2M concurs with the determination offered by Terra Search recently that additional drilling and diamond coring are merited to determine the available resources and reserves present in the steeply dipping and faulted magnetite body. Section 6.2 of this CPR sets out the description of the asset (tenement) suggested in the AIM Guidance Notes for Mining Companies for Appendix 1. The magnetite encountered is of sufficient thickness and quality to be of potential interest commercially and is located in proximity to local infrastructure that would support a rapid start-up of mining operations. The key elements of I2M's assessment are: A preliminary drilling program was completed in October, 2010, indicating that a magnetite unit occurs at depth over an area larger than an existing pit. The Iron Glen tenement is located in Northeast Queensland, Australia.
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