Final Report Period 20 April 1998 to 21 January 2004

Abstract

Exploration Licence 8610 was granted on 20th April 1998 and was surrendered on 21 January 2004. Adelaide Exploration Limited (a wholly owned subsidiary of Adelaide Resources Ltd), both solely and in joint venture, explored EL 8610 for gold. Joint venture partners were Aberfoyle Resources Limited (subsequently Western Metals Limited), Normandy NFM Limited and AngloGold Australia Limited. Exploration programs included soil, lag and rock chip sampling, ground magnetic survey and RAB and aircore drilling. Over most of E.L. 8610 transported cover was found to be 40 to 70 metres thick. Unweathered crystalline basement generally occurs at depths in excess of 80 metres. Sample assay data did not justify further exploration. In September 2003 a RAB/aircore drilling programme was completed to test buried magnetic targets of interpreted structural complexity in mixed mafic/felsic basement sequences. Forty eight (48) holes were drilled for a total 4,319 metres, 782 composite samples (generally 3 metres) were collected (including 23 duplicate samples).