avoca resources ltd

AVOCA RESOURCES LTDThe Rigs are Rattling in South Australia

Sydney Mining Club4 March 2004

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA, and where to in 2004?Summary

Presentation Outline.

Avoca is an aggressive junior explorer.Diamond Drilling1,397 metresRC Drilling6,064 metresAircore Drilling14,205 metresRAB Drilling24,143 metresAuger Drilling5,815 holesSoil Sampling6,444 samplesGravity Surveys4,583 stationsSurface EM Surveys98 line km ..all since listing in April 2002.

..with a quality portfolio in two of Australias highest endowed provinces

Over 10,000km2 in Australias richest copper belt , being the Olympic Copper-Gold Province in SA, and

Almost 8,000km2 in the Eastern Goldfields of WA.mostly in free-carried JVs with Gold Fields, Placer Dome, Harmony, Teck Cominco, Sons of Gwalia and Mines & Resources.

Avoca corporate overview.

ASX CodeAVOIssued Securities64m shares (58m quoted)9.8m unlisted optionsMarket Capitalisation$10m ($3m in cash)Major Shareholders - Gold Fields (11%)(Top 20 own 44%) - Kurana (7%) Staffing MD, EM, SG,TGM, Ac(pt)

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA?Where to next for Avocas SA quest?Summary


Recognising an opportunity and moving very fast..Prominent Hill:100m @ 2% Cu announced

..to secure the major position in Australias richest copper belt.Within 24 hours of the Prominent Hill announcement, Avoca became the dominant lease-holder with 16,000km2 in what later became known as Olympic Copper-Gold Province.Applications by fax and a credit card bill of ~$15K..

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA and where to in 2004?Summary


.smart geochemistry and geophysics.Northern segment of holding was principally geochemistry driven. -utilising innovative geochemical techniques able to see through the rocks which bury mineralisation.

.smart geochemistry and geophysics.Southern segment of holding was geophysically driven.combination of magnetic and gravity surveys collected both by government agencies and Avoca.

An example of innovative geochemistry. Gravity Magnetics (regional only) 1979 drill hole intersected 14m @ 0.5% Cu at 280m depth. Avoca collected partial leach geochemistry over drill hole to see if technique can see through cover rocks.

Geochemistry over drill hole containing buried mineralisation shows strong surface anomalyDrill hole location

Enzyme_halogens

20903522340.1

19743586741700.8

19431589339484.59

27955292652674.43

20630772339762.12

25091531450709.91

27345398949276.68

42267005225.83

226547703915.66

14619232930950.69

20896916741714.43

493744466505.7

22149137946655.53

27061146157456.39

34314143468675.58

29953303760887.94

6206140312184.61

Br

I

Cl/100

Northing

ppb

Wandearah - Enzyme Leach

Enzyme_conicuzn

11033209

-10-1117

-101232

-103120

312107

301126

193129

2614179

17225205

3235175

-101138

5096190

-10271

-102101

-10293

-10191

426114

Zn

Pb

Cu

Northing

ppb

Wandearah - Enzyme Leach

Enzyme_ox

241011457

4427-100

5930-100

4322-100

4527-100

5225-100

4837-100

1726315

181242496

3820279

5026-100

5037301

3627-100

4826-100

4632-100

5328-100

4132468

As

Rb

SQTi

Northing

ppb

Wandearah - Enzyme

Enzyme_REE

478316731641521227-1523

25-13-1-1-1-1-1-1-1-1-11-1

58172-11-11-1-1-1-11-1

36-14-1-1-1-1-1-1-1-1-11-1

4715-1-1-1-1-1-1-1-1-11-1

35-14-1-1-1-1-1-1-1-1-12-1

611292-12-11-1-1-1-11-1

21458369271613-122-1

4210311469381714-1324

1738523514-14-12-12-1-1

25-13-1-1-1-1-1-1-1-1-11-1

10253133-12-12-11-11-1-1

411171-11-1-1-1-1-1-11-1

37-141-1-1-1-1-1-1-1-1-1-1

49161-11-11-1-1-1-11-1

26-14-1-1-1-1-1-1-1-1-11-1

1534522514-13-12-12-1-1

La

Ce

Pr

Nd

Sm

Eu

Gd

Tb

Dy

Ho

Er

Tm

Yb

Lu

Hf

Northing

ppb

Wandearah Enzyme Leach

Chart1

231

-18

16

-16

-113

-19

-19

8-1

152

44

-17

313

-12

-14

-13

-18

54

Th

U

Wandearah_orient_enzyme_joined

Samp_NoEastingNorthingMGA_ZoneSQLiSQBeSQClCl/100SQScSQTiVMnCoNiCuZnGaGeAsSeBrRbSrYZrNbMoRuPdAgCdInSnSbTeICsBaLaCePrNdSmEuGdTbDyHoErTmYbLuHfTaWReOsPtAuSQHgTlPbBiThU

WD177725006301260MGA53104-202340102340.1-1001457311237010112720911023224-30209010111325485316-1-10.52-0.219-13525351478316731641521227-1523-12-0.1-1-1-0.1-1-133-1231

WD167725006301760MGA53233-20417008041700.8-100-1006218523453117-10-1-1445119743271473835-1114-1-1-0.20.2-0.2-18-15867-126725-13-1-1-1-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-1-1-1-18

WD157725006302260MGA53306-20394845939484.59-100-10059879458108232-10-1-159621943130830169-1217-1-1-0.20.6-0.2-19-15893-140558172-11-11-1-1-1-11-1-13-0.1-1-1-0.1-1-11-116

WD147725006302760MGA53241-20526744352674.43-100-10059319084864120-101-1436427955221378748-142-1-1-0.20.5-0.2-112-12926-119136-14-1-1-1-1-1-1-1-1-11-1-13-0.1-1-1-0.1-1-13-1-16

WD137725006302860MGA53298-20397621239762.12-100-10061515453313210731-1-1455620630273992249-1106-1-1-0.20.4-0.2-14-17723-1894715-1-1-1-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-12-1-113

WD127725006302960MGA53631-20507099150709.91-100-10051116503811112630-1-1525825091253321236-1113-1-1-0.20.6-0.2-15-15314-116235-14-1-1-1-1-1-1-1-1-12-1-12-0.1-1-1-0.1-1-11-1-19

WD117725006303060MGA53375-20492766849276.68-100-10059922822811612919-1-1485427345372414376-1160-1-1-0.20.3-0.2-18-13989-1109611292-12-11-1-1-1-11-1-12-0.1-1-10.1-1-13-1-19

WD107725006303160MGA53126-205225835225.83-10031520225279076179264-1173342262612682527-140-1-10.61.6-0.2-17-1700111421458369271613-122-1-12-0.1-1-1-0.1-1-114-18-1

WD187725006303260MGA53162-203915663915.6611724963002918981622051722621832226512483834117568-1-10.50.3-0.224-1477062124210311469381714-1324-13-0.1-1-1-0.1-1-125-1152

WD027725006303360MGA53378-20309506930950.69-10027950818154382175323-13835146192038011825131-1-10.41.4-0.2-110-12329-11251738523514-14-12-12-1-1-12-0.1-1-10.1-1-135-144

WD037725006303460MGA53583-20417144341714.43-100-10022573852576138-10-1-1504520896261074324-1147-1-1-0.20.3-0.2-14-19167-19825-13-1-1-1-1-1-1-1-1-11-1-13-0.1-1-1-0.1-1-11-1-17

WD047725006303560MGA53262-206505706505.7-100301979784561061905095-1504649373722291121259-1-10.21-0.2-11414446131010253133-12-12-11-11-1-1-14-0.1-1-1-0.1-1-16-1313

WD057725006303660MGA53323-20466555346655.53-100-1004731870224071-10-1-1364322149271213062-129-1-1-0.2-0.2-0.2-14-11379-1260411171-11-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-12-1-12

WD067725006303760MGA53368-20574563957456.39-100-10068516512350101-101-1484127061261340144-126-1-1-0.2-0.2-0.2-17-11461-123637-141-1-1-1-1-1-1-1-1-1-1-12-0.1-1-1-0.1-1-12-1-14

WD077725006304260MGA53299-20686755868675.58-100-1003802228224993-101-1465834314321482153-128-1-1-0.2-0.2-0.2-15-11434-119049161-11-11-1-1-1-11-1-11-0.1-1-1-0.1-1-12-1-13

WD087725006304760MGA53359-20608879460887.94-100-1005681771285891-10-1-1535129953281532533-185-1-1-0.2-0.2-0.2-15-13037-124126-14-1-1-1-1-1-1-1-1-11-1-12-0.1-1-1-0.1-1-11-1-18

WD097725006305260MGA53327-20121846112184.61-10046867413713776114426-1413062063217271727235-1-10.50.7-0.2-15-1140311851534522514-13-12-12-1-1-13-0.1-1-1-0.1-1-16-154

..Avoca then completed extensive geochemical coverage to test Nth block. In excess of 11,000km2 surveyed. One sample collected every 4km. Four areas showed coherent and strongly anomalous copper-gold-REE anomalism on surface at: Myall Hill, Shore Hill, Pernatty and Reordan.Provides for ground rationalisation strategy.

.....over ground like this, sometimes!

The application of geophysics in the search for Cu-Au.Magnetics proves very useful for identifying major faults that control location of zones of rock that may host mineralisation. - eg Pine Point Fault and Port Julia prospect on the Yorke Peninsula

PararaMinePort JuliatargetHillside Mine

The application of geophysics in the search for copper-gold. - Both the Ernest Henry deposit and Avocas Glensea Prospect (east coast of Eyre Peninsula) show similar geophysical features: large magnetic complex against non-magnetic granite.

Who is Avoca?What got Avoca started in SA? How do you cut back over 16,000km2 to meaningful drill targets?What has Avoca achieved in SA and where to in 2004?Summary


Olympic Dam style breccia at Port JuliaPJD1

First Avoca drill hole into 6km long gravity anomaly intersects Olympic Dam-style breccia. *First occurrence on Yorke P.Second hole commenced yesterday, 2.5km from first hole.

PJD1 176.2m: Chalcopyrite in haematitic breccia

PJD1 183.4m: Red haematite breccia clasts withsteely haematite matrix

Drilling PJD1 at Port Julia, June 2003

MOORE GEOPHYSICSNew work at Port Julia involves 3D imagery of Avocas gravity data

MOORE GEOPHYSICS..and calculating what type of dense body may give rise to the Port Julia gravity anomaly

MOORE GEOPHYSICSPJD1 drilled in non-optimum location.1km Here higher density cores to the source body are seen as green, and are targets for current drill testing.PJD1PJD2

Is Glensea another Moonta-style field?Avoca drills the only 3 holes into 80km2 magnetic anomaly.Discovers high grade copper-gold veins in 3 holes over 6km2.Large TEM program to identify large massive sulphide position completed.Drilling to re-commence in March Qtr 2004.Glensea

Glensea discovery another Moonta field?Avocas 3 holes are the only holes ever drilled into the magnetic anomaly

COD1, 115.47mMassive chalcopyrite with quartz.0.9m @ 3.25% Cu, 0.24 g/t Au, 2.4 g/t Ag

Drilling COD1 at Glensea, April-May 2003

Wandearah is a very large and highly dense body..Drill targets defined by two discrete 5km2 gravity anomalies. North target coincident with highly anomalous geochemistry.Targets not previously drilled.Avoca to drill in March 2004.

Wandearah

..with two discrete gravity anomalies (drill targets).Two discrete anomalies off main anomaly axis defined by 1800 station gravity survey completed by Avoca.Very large target sizes (5km2)

MOORE GEOPHYSICSNew work at Wandearah shows 3D image of Avocas gravity data. OLDNEW

MOORE GEOPHYSICSDense body at depth calculated as being responsible for gravity anomaly. Note this feature

Discrete gravity anomaly

Copper anomaly(20x background)Geochemistry overlying gravity.

REE anomaly(50x background)Geochemistry overlying gravity.

DRILL TEST March 2004Uranium anomaly(50x background)Geochemistry overlying gravity.

Summary Avoca is an aggressive and fast moving junior explorer that acquired the major holding of Australias richest copper belt following MNR announcement. Avocas initial holding of in excess of 16,000km2 was reduced using results from a combination of innovative geochemistry and geophysical techniques.Avoca has discovered a new high grade copper-gold Moonta style field at Glensea.

Summary contd.Avocas first drill hole into Port Julia intersected Olympic Dam style haematite breccias. First observation on YP.Wandearah exhibits excellent geochemical and geophysical properties consistent with buried mineralisation.All 3 copper-gold targets to be drill tested over next 2-3 months.

www.avocaresources.com.au

Thanks _______

Good morning ladies and gents and welcome to Avoca Resources.

Our MD Rohan Williams sends his apologies for not being able to attend this years conference. Rohan really enjoys this conference and I know that he was extremely disappointed when he found out that he couldnt attend.Today I would like to start by running you through our WA projects which are divided into Jimberlana Nickel, WA gold and joint venture projects.

After that well move onto SA and while I have a captive audience Ill introduce you to some high quality projects that Avoca is trying to divest.This is Avocas third explorers conference.

At the 1st conference Avoca was just two weeks old having just raised $7M on an IPO based predominantly on grassroots projects.

In the 22 months since then Avocas shareholders have been exposed to an unprecedented level of greenfields exploration activity within 2 of the worlds premier resource provinces, the Eastern Goldfields of WA and the Olympic Cu-Au Province of South Australia.

This is Avocas third explorers conference.

At the 1st conference Avoca was just two weeks old having just raised $7M on an IPO based predominantly on grassroots projects.

In the 22 months since then Avocas shareholders have been exposed to an unprecedented level of greenfields exploration activity within 2 of the worlds premier resource provinces, the Eastern Goldfields of WA and the Olympic Cu-Au Province of South Australia.

It is because of this high level of activity that our shareholders have remained loyal and our capital structure remains largely intact.

We have 74M shares listed.

A market Cap of $11M.

$3M in the bank.

2 major shareholders being Gold Fields and Mr Ian Buchhorn.

And 4 permanent staff members an MD, EM, SG, TGM and part time accounts person.Today I would like to start by running you through our WA projects which are divided into Jimberlana Nickel, WA gold and joint venture projects.

After that well move onto SA and while I have a captive audience Ill introduce you to some high quality projects that Avoca is trying to divest.Avoca still has a very strong tenement position in South Australia with title to over 10k square km of the Olympic Copper Gold Province.

Avocas primary target here is large scale iron oxide copper gold deposits. Avoca still has a very strong tenement position in South Australia with title to over 10k square km of the Olympic Copper Gold Province.

Avocas primary target here is large scale iron oxide copper gold deposits. Today I would like to start by running you through our WA projects which are divided into Jimberlana Nickel, WA gold and joint venture projects.

After that well move onto SA and while I have a captive audience Ill introduce you to some high quality projects that Avoca is trying to divest.At Port Julia on the Yorke Peninsular Avocas 1st hole into a 6km long gravity anomaly intersected an Olympic Dam type breccia.

This is the first time that such a breccia has been recognised on the Yorke Peninsular.At Port Julia on the Yorke Peninsular Avocas 1st hole into a 6km long gravity anomaly intersected an Olympic Dam type breccia.

This is the first time that such a breccia has been recognised on the Yorke Peninsular.The Port Julia target is shown here on this aeromagnetic image.

It is located along the fertile Pine Point Fault shown on the slide between the arrows.

Other magnetic anomalies along this fault zone may also be due to similar breccia-type bodies.The Port Julia target is shown here on this aeromagnetic image.

It is located along the fertile Pine Point Fault shown on the slide between the arrows.

Other magnetic anomalies along this fault zone may also be due to similar breccia-type bodies.Today I would like to start by running you through our WA projects which are divided into Jimberlana Nickel, WA gold and joint venture projects.

After that well move onto SA and while I have a captive audience Ill introduce you to some high quality projects that Avoca is trying to divest.This slide shows the 6km long Port Julia gravity anomaly and the location of Avocas first drillhole.

It is fairly obvious from this representation that further drilling is warranted.This slide shows some of the core from the breccia and you can clearly see the strong red hematite alteration and the well defined brecciation.

Disseminated chalcopyrite is evident however it may not be to easy to spot in this slide. The next few slides run you quickly through some of the gravity inversion modeling that has been undertaken at Port Julia.

We start with a 2D gravity grid..And applying a 3d gravity inversion begins to bring out the denser rocks..

And if we continue the inversion further the real high density bodies begin to emerge from the data set.

A drill hole into the northern body is due to commence within two weeks.Moving across the Spencer Gulf to Cowell and Avocas Glensea project.

Here Avoca has completed the first holes ever drilled into an 80 square km magnetic construction zone favourably located between a Hiltaba granite and the fertile Roopena Fault.

This slide shows the location of the three holes within the magnetic anomaly.

Each hole intersected thin zones of significant Cu-Au mineralisation.

Characteristics of this mineralisation are more in line with the Moonta-style of Cu deposit than the typical iron oxide copper gold breccias and Avoca has tuned its exploration efforts to locating more massive sulphide type mineralisation in this area.

This slide demonstrates some of the massive sulphide type mineralisation encountered in Avocas first ever diamond drill hole.Moving back across the Spencer Gulf to Wandearah where recent modeling of gravity data collected by Avoca has defined high density targets coincident with anomalous surface geochemistry.

This slide depicts Avocas gravity survey with two highlighted anomalies offset from the main density axis.

The main density axis shown here in purple represents a horst-type basement uplift structure and we have interpreted the two offset density highs to be possible breccia-type bodies emplaced along the bounding structures to the horst block.The next few slides run you through some of the gravity inversion work completed for this data set.

This is a perspective view of the residual gravity data looking towards the north.And removing the residual data highlights one of the dense offset bodies as circled here.The next few slides show how the gravity and surface geochemical anomalies coincide.

The offset gravity anomaly is shown here coloured and contoured.Here surface copper geochemistry is draped over the gravity contours.

You can clearly see that the copper anomalism is coincident with the offset gravity feature as highlighted.And the rare earth elements show significant anomalism at the same location.As does uranium

This target will be drill tested in the March quarter.Avoca intends to focus on the Jimberlana layered mafic ultramafic intusion which we believe has the potential to host significant Ni-Cu mineralisation.

Avocas gold project portfolio has some advanced prospects particularly at Mt Fisher and Zuleika South that could host a major gold discovery.

Drilling by Avoca has identified a new Moonta-style copper-gold district on the Eyre Peninsular. Recently completed EM work is under interpretation.

Large Olympic Dam type breccias on the Yorke Peninsular are ready for drill testing.

Avoca is looking to divest non-core projects.Avoca intends to focus on the Jimberlana layered mafic ultramafic intusion which we believe has the potential to host significant Ni-Cu mineralisation.

Avocas gold project portfolio has some advanced prospects particularly at Mt Fisher and Zuleika South that could host a major gold discovery.

Drilling by Avoca has identified a new Moonta-style copper-gold district on the Eyre Peninsular. Recently completed EM work is under interpretation.

Large Olympic Dam type breccias on the Yorke Peninsular are ready for drill testing.

Avoca is looking to divest non-core projects.QUESTIONS?????