Fourth Annual Report for EL 7150 (Talbot South) for the period 6th November 2000 to 5 November 2001

Abstract

Work undertaken included sampling programs, drilling programs and ground magnetic geophysical survey. Drilling at Talbot South highlighted variable thickness of alluvial and coluvial cover sediments throughout the tenement. The bedrock intersected consisted of dolerite, siltstone, greywacke, arkose, and granite. Several samples returned gold assays greater than 20 ppb , with maximum results of 106 ppb Au and 350 As. Five rock chip samples were taken from outcrop locations along the surveyed Groundrush haulage road. All samples returned gold values less than 10ppb. At Freefall lag sampling program returned gold assays less than 50 ppb. Several samples returned arsenic greater than 100ppm. RC drilling program completed at Groundrush returned maximum result of 1m @ 11 g/t from 88m. Rock chip samples indicate that there is a clear correlation between quartz vein density and gold grade within the ore zones of the Groundrush orebody. Three soil sampling programs were completed at Ripcord and 21 RC holes were drilled. Significant results include 20m @ 2.91g/r Au from 78m, 8m @ 2.09 g/t Au from 76m and 2m @ 6.72 g/t Au from 84m.