Annual Report Reynolds Range exploration licence 7343 for the period 29 May 1997 to 28 May 1998

Abstract

Exodus continued exploration in the area by initially conducting a data review of historical information. A geomorphological study was completed using aerial photography and validated by ground traversing. Regional rock chip sampling was carried out with some significant results being obtained ie. 6.2g/t Au and 22% Sb at Sabre, 8.4g/t Au at Pine Hill Mine and 1.5g/t Au with high base metal values at Reward Mine. A detailed 100m spaced line and 50m sample spaced soil sample program was conducted and indicated and better defined the anomalies previously located. Additional RAB drilling was carried out with 56 holes completed at the Sabre prospect and confirmed potentially economic mineralisation for a 100m strike length, some of the better intersections include 30m at 2.5g/t Au, 16m at 2.2g/t Au and 15m at 2.1g/t. At Falchion additional RAB drilling confirmed a small pod of mineralisation along a single section line, better results include 12m at 3.9g/t Au and 4.2% Sb. The Sabre South, Sabre North, Falchion North, Copper Vein, T1, Yataghan South, Yataghan and Pine Hill anomalies were also RAB drilled with occasional low anomalous values obtained. Data was reviewed. Digital elevation mapping undertaken. Mobile metal ion assaying.