Shoemaker Impact Project

The Shoemaker Impact Project is located near the Horse Well gold project in the Warburton Mineral Field of Western Australia, approximately 85 kilometres northeast of the town of Wiluna. The Shoemaker Impact Project occurs in the northern most part of the Yandal/Millrose Greenstone belt.

High grade iron samples obtained during Alloy's November 2010 regional exploration program demonstrate that the Shoemaker Impact Structure contains iron mineralised zones over a strike length of 12 kms in the Alloy tenements.

The iron mineralisation is hosted in the Proterozoic Frere Formation, which contains layers of peloidal hematite and jaspilite, with some layers of black hematite.

The November 2010 sampling program followed a previous sampling exercise in July 2010, when the iron bearing horizons were first sampled showing grades in excess of 50% Fe.

For more information with figures and tables see:

• December 2010 Quarterly Activities Report.
• June 2010 Quarterly Report

Future Exploration Activities

Future work will include selecting locations for costeaning to sample the width and depth extents of high grade iron horizons within the Frere Formation, and then drilling below zones with the best potential for continuation at depth.