Annual exploration report for EL 23270 Woolwonga North for the period ending 19 February 2008

Abstract

During 2007-2008 reporting period, an air core drilling program was carried out and samples retrieved were analysed for gold and base metals. This program involves a total of 5 Air Core drill holes for 84 metres. 36 samples retrieved during drilling were analysed for Au, As, Cu, Pb and Zn. Assay data show that no significant values of Au and base metals were encountered during drilling. Au concentration varies from -1 to 6 ppb with an average of 1.2 ppb. Similarly, Cu varies from 4 to 117 ppm averaging at 25 ppm. Zinc has slightly higher concentrations, ranging from 61 to 724 with an average of 170 ppm. Other exploration activities included site visit, data entry into DataShed, tenement administration, acquisition of IKONIS imagery and report writing. Proposed future work would involve detailed interpretation of the magnetically anomalous NW trending signature parallel to the Woolwonga structure in the south and the drilling of broad spaced RAB / Air Core holes to basement under the colluvial / alluvial cover that masks a good deal of the landholding.