Report on exploration of MLN932 and MCNs 125, 561, 562, 576, 577, 578, 1299, 1300, Brocks Creek for the period 08-12-1991 to 31-12-1992

Abstract

Work completed during the reporting period consisted of an IP survey over Faded Lily on a 50x25m grid, 21 costeans totalling 2800m, 60 RC percussion drill holes totalling 6106m and 4 diamond (percussion precollar) drill holes totalling 203m. The chargeability survey produced two highs. One high corresponds to the main mineralization, while the other high borders MCN534 which Cyprus has under option. This second high has no known mineralised association. The trenching at Alligator and Faded Lily intersected a number of mineralised sections including at Alligator 45m at 2.45g-t Au. Resource assessments based on drilling to date give an indicated-inferred resource of 4.57Mt at 2.9g-t.