Annual report on EL 9592 23 October 1998 to 22 October 1999

Abstract

The report details third year exploration program carried out in the area icluding regional soil sampling and infill sampling with follow up of one target drilled by RAB. In the northern part of the licence 110ppb Au was the highest result obtained from the reconnainssance soil sampling. Sampling in the central part obtained results of a maximum of 89.5ppb Au. In the southern part a spot anomaly (5.8ppb Au) was identified. The reconnaissance surface sampling was followed up by infill soil sampling. The most northern area has been of most interest for infill soil sampling and up to 198ppb Au anomalism was obtained. RAB drilling followed up infill soil sampling with the highest significant intercepts being 2m @1.7g/t Au, 6m @ 0.78 g/t Au and 2m @ 1.46g/t Au. Rockchip samples collected from outcropping Winnecke Granophyre and quartz veins returned results up to 22200ppb Au. Highest results were derived from igneous style of quartz veining, methotermal veining assayed low in gold.