Eighth Annual report 13 March 1999 to 12 March 2000

Abstract

This report detail exploration work carried out on the licence area. The work includes down-hole magnetic probing, gridding, soil sampling, rock chip sampling, metal detecting and RC drilling. Drilling at Gossan Hill confirmed the presence of a dolomitic body. The best intersection of copper mineralisation was from drill hole (GHR007) in Gossan Hill (22m @ 1347 ppm Cu from 63m and 1m@ 3.5 g/t Au, 1250 ppm Cu and 1300 ppm Bi from 117m) and from drill hole (GHR009, 33m @ 1674 ppm Cu). RC drilling in Explorer 211 did not confirmed gold mineralisation intersected last year in hole EXR001 (2m @ 51.8 g/t Au between 91 and 93m). Drilling established that alteration zone dips to the southeast and further drilling would be from this direction. Results from soil sampling at the Blue Moon North prospect indicated the presence of three anomalous areas called Anomaly A, B and Bismuth. No magnetic targets were found from down-hole magnetic probing at the Ganymede. The copper shoot there is seen as a small, shallow resource. A brief metal detecting exercise at the Leda prospect located two small gold nuggets. The licence area is considered to be very prospective with many prospects and drill targets at various stages of testing.