WAVENET INTERNATIONAL LIMITED

ABN 50 087 139 428

Wavenet International
is a new exploration
company with a large 23 November 2012
portfolio of coal
tenements in Queensland
ASX Limited
as well as a number of
gold and polymetallic
Company Announcements Office
concessions in West SYDNEY NSW 2000
Kalimantan, Indonesia.
UPDATE ON EXPLORATION
Wavenet has a quality
package of coal tenements in
HIGHLIGHTS
the Bowen, Surat, Eromanga
and HillsboroughBasins of
Queensland. INDONESIA (GOLD)

 The Selaup Gold Project is located in West Kalimantan in the

Selaup Gold Project
Kapuas Hulu Province, Putussibau District. Indications from
The new gold project at Selaup reconnaissance work are that gold mineralization is
is in the Putussibau district of extensive.
West Kalimantan. Initial
samples from workings in this  Geochemical results indicate that there are several gold,
deposit have returned 53 g/t silver, copper and lead/zinc anomalies on the concession
gold, 39 g/t silver, 2.9% lead
and 0.6% Zn within epithermal  To test some of the identified soil anomalies a preliminary
vein systems peripheral to diamond drilling campaign of approximately 2,050 metres is
andesite/diorite intrusions.
being conducted.
Registered Office:  A BMP250 diamond drill rig is currently at Selaup and has
completed the first accessible hole (12SD015) of the drilling
45 Quarry Street
FremantleWA 6160
program.
Telephone:  12SD015 finished at a depth of 106.04m and intersected
(08 9435 3800) several alteration zones, sulphide-bearing horizons and
Directors & Management hydrothermal breccias. The core is being transported to
Pontianak for cutting and sampling.
Chairman
Mick Stroud  A second drill rig is on site and is due to start drilling as
soon as another access track is completed.
Directors
Gregg Freemantle
Laurie Holyoak QUEENSLAND (COAL)

Company Secretary
Laurie Holyoak
 Rationalisation of tenement holdings
 Reduced from 16 to 7 tenements
Geological Consultants
 Most prospective areas retained
Geologica Pty Ltd
 Currently hold 3 granted tenements and 4 under application
INDONESIA - SELAUP GOLD PROJECT

The Selaup Project is situated approximately 50 km south-west of Putussibau, in the Kapuas Hulu district of
northern part of West Kalimantan Province. (Figure 1)
The project is a granted Authorization for Exploration for minerals (IUP no 345/2011) covering an area of 6,280
Ha and is approximately 13 kilometres long by 5 kilometres wide.
The geological setting of the area comprises stratigraphic units and structures that have been conducive for
the formation of oxide and primary gold mineralization. Current indications are that this mineralization is
extensive. From initial exploration work it appears that there are also indications of polymetallic sulphide ores
present on the concession. It is therefore expected that the mineralization could bear copper, lead and zinc as
well as gold and silver.

Figure 1 - Project Location Map

The Selaup mineralization style is dominated by high grade gold and silver accompanied by significant copper
and lead within pelitic to arenaceous sediments and tuffs associated with widespread silicification and
hydrothermal alteration.
There is significant potential for hosting a world-class gold deposit at Selaup since all the elements of a classic
sediment-hosted large mineral deposit are present e.g.
 There is widespread hydrothermal alteration (introducing carbonate and silica) of the sediments
 The tenement covers the thermal aureoles of several intrusive diorite bodies
 Individual veins show high metal grades
 Brecciated sediment horizons and vein structures confirm a complex mineralization history
 Regional structures such as the Singtang Intrusives, multiple diorite/andesite intrusions, faults and
fracture zones confirm a strong, active deformational environment conducive to forming mineral
deposits.
Several locations have been identified where test diamond drilling can take place to investigate the soil
anomalies, particularly in the central and northwestern parts of the concession (see Figure 2).

Figure 2 – Identified Gold-Bearing Areas and Soil Geochemical Anomalies at Putussibau Concessions
in relation to mapping and drilling areas

18 diamond drill holes are planned for the first program for approximately 2,050 metres. These holes are
designed to test along strike from existing artisanal workings where several mineralized structures are
producing gold.
Drill holes will vary in depth from 50 to 200m. Drilling will recover NQ core and be completed in stages to allow
time to complete detailed logging, review geology and stratigraphy, transport core back to Pontianak and
organize sampling and assaying. See Figure 3.
This will be followed by further drilling to be designed after initial results are obtained.

Figure 3 – Proposed Stage 1 Diamond Drilling Program

Diamond drill hole 12SD015 was the first hole completed in the accessible area closest to the main road.
Although this hole was not a high priority hole there were several areas of alteration encountered. In addition
some horizons of disseminated sulphides and hydrothermal breccias are seen. 12SD015 finished at a depth of
106.04m and the rig is moving to the next site. The core has been logged and a simplified section is shown on
Figure 6 as well as examples of the different lithologies in Figures 7 to 10. After being transported to Pontianak
the core will be cut and sampled ready for assay.
A second drill rig is on site and is due to start drilling as soon as another access track is completed.

Figure 4 - BMP250 drill rig at the site of 12SD015

Figure 5 – Core logging

 Figure 6 – Simplified lithology log for 12SD015

As seen in Figure 6 the hole intersected several zones of disseminated pyrite (up to 1% pyrite shown in yellow)
and 4 zones of disseminated pyrite to 5% with galena (orange) as well as 2 zones of pyrite and galena with
visible gold (red).
In addition the siltstones are bleached by hydrothermal alteration, sometimes associated with andesite/diorite
sills (grey areas).
There are several horizons of breccia, some of them also associated with mineralisation.
 Figure 7 – Siltstone unit

Figure 8 - Andesite

Figure 9 – Brecciated siltstone

Figure 10 – Siltstone with pyrite

QUEENSLAND PROJECTS (COAL)

WAL has undergone a progressive review of its coal tenements in Queensland and has now rationalised its
tenement holdings. There has been a reduction from 16 to 7 tenements with the prospective areas retained.
WAL currently holds 3 granted tenements (EPC 2264, EPC 2044 at Gayndah and EPC 1958 at Blackwater)
and 4 under application (EPCA 2265 at Gayndah, EPCA 2525, EPCA 2526 at Thargomindah and EPCA 2530
at Isisford).
EPC 1067 (Dysart) and EPCA 2524 (Waterpark) are being considered for disposal and tenement applications
EPCA 2866, 2867, 2868, 2869, 2870 and 2871 at Charleville have been rescinded.

Comment
It is common practice for a company to comment on and discuss its exploration in terms of target size and type. In
addition surface sampling assays and drill sample results may also be discussed in the context of information describing
the presence of anomalous mineral content. The above information relating to an Exploration Target should not be
misunderstood or misconstrued as an estimate of Mineral Resources or Mineral Reserves. Hence the terms Resource (s)
or Reserve(s) have not been used in this context. The potential quantity and grade is conceptual in nature, since there
has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the
determination of a Mineral Resource.

Declaration
The information in this statement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on
information compiled by independent consulting geologist Brian Davis who is a Member of The Australian Institute of
Mining and Metallurgy and the Australian Institute of Geoscientists. Mr Davis is employed by Geologica Pty Ltd and has
sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the
activity which is undertaken to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Mr Davis consents to the inclusion in the report of the matters based on the information made available to him, in the form
and context in which it appears”.