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Sunseeker Minerals Overview

PROSPECTUS UPDATE:

15 June 2011

The prospectus to raise $3m was closed oversubscribed.



Sunseeker Minerals is a Western Australian based mineral exploration company focused on exploring and developing quality Australian assets.



Sunseeker owns 100% of the Lucky Downs Project 220 kilometres west of Townsville, Queensland. The target commodities upon the Lucky Downs Project are gold and other base metals over a total area of 203 square kilometres. The Project consists of granted exploration permits EPM 14346, EPM 18368 and MDL 107 (together, the “Tenements”).

The Lucky Downs Project has undergone limited exploration work (6,500 metres of drilling) but has a number of identifiable targets in an area known to host economic mineralisation. The Company’s aim is to identify and explore new mineral discoveries that will significantly upgrade the value of the Project, with the ultimate goal being the mining of identified resources. The target commodities are gold and other base metals.



The Company’s initial focus will be to investigate the drill ready targets at the Steam Engine Gold Prospect and the Galah Dam base metals prospects.


These strategies are believed paramount to securing the Company’s future, with the Lucky Downs Project having the potential to deliver a viable gold and or Zinc mining operation, and generate cash flows so that the Company may continue to acquire and develop worthwhile projects.
 
The Directors believe that the Company has acquired a project with exceptional potential; however, other projects both in Australia and overseas will be considered for either acquisition or joint venture should they have the potential to add value to the Company.




     
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