Report on activities for Mineral Leases 10,16, 17, 23, 51-57, 61, 62 and 90 and Mineral Claims 13 to 28 1 January 1993 to 31 May 1993 Jervois Mine Project

Abstract

Exploration conducted during the report period consisted of diamond drill testing of EM conductors detected during the 1993 programme. The drilling of 2 further holes (JD2 and JD3) on the Marshall - sykes anomaly did not explain the EM response. EM resurveying of loop 4 in conjunction with downhole EM surveying of holes JD2 and JD3 point to a surficial source (possibly cultural) for the 'conductor'. Loop 5 was also resurveyed with no significant conductors detected. JD4 was dilled to test the EM anomaly coincident with the Bellbird Lode. Stringer and veinlet pyrite and chalcopyrite mineralisation was intersected at the predicted depth. The best zone, between 89.7m and 96.4m, averaged 2.7 percent Cu over the 6.7m interval. The intersection obtained is compatible with the EM response obtained. Posiden declined to execrise the option on the 31 May 1993.