Batchelor Project EL 9501 Annual report for period 13 September 1999 to 12 September 2000 Fouth year of tenure

Abstract

This report summarises all activities undertaken in the fourth year of tenure and details the re-estimation of the Winchester resource. Infill drilling and sampling on the magnesite prospect has allowed re-estimation and reclassification of the resource. The updated magnesite resource is now stated as: inferred of 4.4Mt at 43.6 percent MgO, 8 percent Talk, 1 percent Quartz and 1.8 percent CaO, indicated of 12.2 Mt at 43.1 percent MgO, 7 percent Talk , 2 percent Quartz and 2.2 percent CaO and total 16.6 Mt at 43.2 percent MgO, 7 percent Talk, 1 percent Quartz and 2.1 percent CaO. The resource is covered by 10m thick overburden, is confined along strike and open at depth. Internally there is considerable variation in quality over short distances. Further work is planned for metallurgical testing, bulk sampling and follow up of the previous year gold intersections on the southern extremity of Winchester prospect.