Work on a bankable feasibility study and an environmental statement is nearing completion for a 1.25Mt p.a. open-cut mine and ore processing plant to produce 65,000 tonnes per annum of copper concentrates (25% Cu) and 75,000 tonnes per annum of zinc concentrates (53% Zn).

Sulphur Springs copper-zinc project was acquired by CBH (through wholly owned subsidiary, CBH Sulphur Springs Pty Ltd) in May 2005 from Sipa Resources Ltd. The project is located 160km by road southeast of Port Hedland, in Western Australia's Pilbara region.

The main deposit comprises volcanic-hosted massive sulphide mineralization, discovered in 1989 by Sipa. In 2003, Outokumpu Zinc Australia, which was in a joint venture with Sipa, completed a Bankable Feasibility Study to develop the project as an underground operation. A decision to mine was not made by Outokumpu due to a corporate decision to exit mining world wide at a time of low metal prices.

CBH completed a detailed review of the project and concluded that the deposit could be optimized for maximum value through open pit mining at lower cut-off grades. The open pit mine design has significantly increased the available tonnage with an open cut mine life of more than 7 years at a 1.25 million tonne per year mining rate. Pit optimization studies have determined a Reserve of: 10Mt @ 3.5% Zn, 1.4% Cu, 17 g/t Ag within the open pit. The continuation of the deposit below the open cut will be mined from underground with access by decline from within the open cut.