Sixth annual report on SEL 8788 Suplejack, year ending 4 October 2000

Abstract

Exploration at Suplejack prospect has been very effective in most areas. The report summarizes exploration activities carried out in three main areas: Boco, North Tregony/Boco and Montague Duck. Work included soil sampling, RAB drilling, geological modeling using Vulcan software and resource estimation of the Tregony mineralisation. At Tregony the gold distribution is generally nuggety and low grade with poor down-dip continuity. The deposit consists of two main areas, Main and Central, based on geological characteristic and gold grade. Lodes in the Main zone are shallow dipping (35 degrees to the West), while the Central zone are generally sub-vertical to the west. Narrow quartz veins in an interbedded greywacke/shale sedimentary package characterize mineralised zones. A global indicated and inferred resource was estimated for 331,265 tonnes @ 1.9 g/t (20,000 ounces). The review of all exploration data in the region indicated that the southern part of the licence and north of Tregony North require a second exploration attempt, utilizing new ideas and technologies.