Fourth Annual Report for the Mt Frederick Project for the year to 31 December 2002 EL 8301 Alpha, EL 8796 Beta, EL 8797 Gamma, EL 8899 Frederick

Abstract

Work included sampling programs, Aircore drilling and geophysical interpretation. There was a slight elevation in gold and arsenic within the EL 8796 from soil sampling. Lag sampling helped to define the shape of the main north-south arsenic trend within the licence area. Rock chip sampling returned a gold value of 606.1 ppb along the southern boundary of the area. Sampling within the EL 8797 did not return encouraging results. Drilling completed at EL 8899 returned assays less than 200 ppb Au.