Matrix Metals | Copper Production and Exploration

The Company is pleased to announce that an Indigenous Land Use Agreement ("ILUA") between Matrix Metals Limited and the Kalkadoon People "ILUA" was Registered yesterday by the NNTT and is hence now in force and fully operative.

The ILUA provides a process for the granting of Mining Leases in the total Mt Cuthbert/Mt Watson region.

The Registration of the Kalkadoon/Matrix ILUA, facilitating the granting of Mining Leases, is a milestone event in terms of the resolution of native title by negotiation and in the development of long term and meaningful relationships between native title claimants and mining companies.

In a media release published by the NNTT today, the President of the NNTT Mr Graeme Neate said "This agreement stands as a testament to the effectiveness of mediation as it has delivered solid benefits to both parties and has addressed a much broader range of issues than was originally thought possible."

Mr Neate added "It shows what can be achieved when everyone involved works co-operatively, developing relationships that will stand the test of time as the agreement progresses."

The Registration of the ILUA concludes almost three years of negotiations between the parties and has created the foundation for the development of a long-term mutually beneficial relationship. Matrix would like to record their appreciation to the Kalkadoon People for the co-operative and positive spirit in which the ILUA has been negotiated and concluded.

Additional details in regard to the ILUA are provided in an announcement to ASX dated 28 October 2002.

Yours sincerely,
Andrew Chapman
Managing Director

 

The geological information in this report is based on information compiled by the Company's Senior project Geologist, Mr Phil Frank and the Company's Operations Manager, Mr Bob Dennis both of whom are employees of Matrix Metals Limited. Messrs Frank and Dennis each have a minimum of 5 years experience in estimation, assessment of, and evaluation of Mineral Resources and Ore Reserves, which are relevant to the style of mineralisation under consideration.