SEL 8432 Windhoek Prospect Annual report for the period 24 December 1993 to 23 December 1994

Abstract

Exploration of SEL 8432 during its first year of tenure has included hand and compass gridding, aeromagnetic survey, IP-Resistivity survey, vacuum orientation geochemistry, vacuum drilling, reverse circulation and diamond drilling. Significant mineralisation intersected were returned in reverse circulation-diamond drillholes at Anomaly C5 including 6 metres at 2.46 g-t Au (KRC-111) and 0.85 metres at 8.0 g-t Au (KDD-110). An intersection of 3 metres at 5.31 g-t Au from 33 metres depth was returned at Anomaly C4 in drillhole KRC-1 03. Continual exploration by PosGold will depend on the outcome of an application by the Central Land Council on behalf of the Amerre People to the Minister of Aboriginal and Torres Strait Islander Affairs and pursuant to the Aboriginal and Torres Strait Islander Heritage Protection Act to have an area of approximately 500 sq km surrounding the Kroda Prospect protected from any exploration and mining.