Third annual report for EL 7150 Talbot South, for the year to 5 November 2000

Abstract

Further detailed follow up work was undertaken on the Ground rush prospect. This involved the completion of RC drilling along the strike length of the prospect, diamond drilling under the centre of the resource and to test the depth extent of the mineralisation. More intensive exploration work was carried out along strike to the south of the Groundrush, that involved soil sampling, LAG sampling, extensive vacuum and RAB drilling and detailed airborne magnetic and TDEM surveys. RAB drilling was conducted to follow up geochemical anomalies at Skysurf and Freefall. Two detailed airborne geophysical surveys were completed during the reporting period. Detailed helimag surveys over Groundrush prospect and heliborne TDEM survey covering Groundrush and Freefall prospects. The best intersections from RAB drilling include 27m @ 0.9 g/t Au and 24m @ 0.85 g/t Au. The best intersections from RC drilling program include 19 m @ 16.02 g/t Au, 13 m @ 6.77 g/t Au and 12 m @ 6.59 g/t Au. Diamond drilling program identified very high grades down to 150 m below the surface and there is no indication that system stops at depth. Mineralisation continues to be associated with multi stage quartz veins, chlorite alteration and sulphides. The best intersections from diamond drilling include 51.5 m @ 4.24 g/t Au, 33 m @ 5.46 g/t Au2.5 m @ 55.67 g/t, and 16 m @ 9.95g/t Au.