Annual report on the Mount Todd Project Area for the period 5 March 1996 to 4 March 1997 MLN 1070 MLN 1071 MLN 1127

Abstract

Exploration included drilling at Quigleys, Penguin, Quigleys West and Batman North. A gold resource was outlined at Quigleys, however results from Batman North and Penguin were disappointing. Development drilling initially infilled the hole spacing required for medium term scheduling purposes. A programme commenced to bring all ore in the final pit design to proved and probable status. Drilling also indicated the potential for significant low sulphide primary waste rock in the western cutback area of the final pit. Mine ore production to the end of February was 3,627,002t, of which 844, 170t of oxide ore was derived from Golf and 35,961t from Tollis.