The Mt Sarah Project (EL2958) is a 128 sq. km property located in the O'Driscoll G2 Corridor in Southern Australia. The property is owned jointly by Caldera Resources and Ellendale Resources.

Title: Mt. Sarah Property

Simberi can earn a 60% interest in the Project by issuing 1,500,000 common shares and spending C$1,250,000 in exploration on the property over the next 3 years. The Project will then transfer to a joint venture with Simberi as operator.

• Simberi - 60%
• Caldera - 20%
• Ellendale - 20%

Simberi has recently completed Gravity and Magnetic anomaly surveys. The coincident gravity and magnetic anomalies at Mt. Sarah are considered to be of high interest and are the typical geophysical responses that are found at the Olympic Dam Deposit, the Prominent Hill Deposit and the more recent Teck Cominco discovery at Carrapateena and which are located in South Australia.

Title: Mt. Sarah gravity and magnetic anomalies

In summary, the Mt. Sarah magnetic anomaly has an amplitude of 350 nT.  Inversion modeling of this anomaly using a cylindrical body yields a good fit between the observed and computed anomalies.  Of more significance and importance is the associated intense gravity high of 10 Mgal and which lies on the northern flank of the magnetic anomaly, as shown on the accompanying map.  The 10 Mgal response falls within the range of a dense rock type such as a hematite breccia and is therefore considered a priority target. 

Geophysical modelling using several different shapes, estimates that the top of the feature that is causing the anomaly lies at a depth of 1,000 m to 1,500 m below the surface, however, the depth estimate is likely to change and may be more favourable when additional gravity lines are completed to the north and east of the gravity target.  This “closing off’ will enable a more accurate depth to top of target to be calculated.

A drill hole is recommended, on this anomaly that exhibits coincident gravity and magnetic anomalies that are similar in geophysical response to the Olympic Dam deposit that is the class type for iron oxide mineralized bodies within the G-2 corridor.

Simberi is expecting to complete its Aboriginal Work Clearance Survey on Mt. Sarah  in December 2007 which will allow further work to be completed.