Acacia Resources Limited SEL 8788 - Suplejack project fourth annual report year ending 4 October 1998

Abstract

Evaluation by RAB drilling was continued at Boco, Boco West, Donald, Douglas and Tregony North failed to intersect economic mineralisation, RAB drilling at the Thomas prospect intersected significant mineralisation ie, 10m at 5.5g/t Au and 9m at 5.45g/t Au, follow up RC drilling only intersected narrow intercepts ie, up to 3m at 3.48g/t Au. The Tregony prospect was evaluated by additional RAB, RC and three coreholes. Some significant mineralisation was obtained over an approximate distance of 500m ie, 15m at 2.18g/t Au, 17m at 3.09g/t Au, 10m at 2.78g/t Au. Results of the samples collected by Stockdale indicate a number of chrome spinels, however it is suggested that they were derived from the Antrim Plateau Basalts. Interpretation of aeromagnetic data located 7 dipole anomalies of which two will be tested by drilling. 17 line km of gridding. Some metallurgical testwork was undertaken.