Annual report for MCN's 3249-3270, 3928-3932, 3937-3940 and MLN's 314-316, 344-345, 977, 1095-1097 Woodcutters Project for period ending 5 March 2001

Abstract

During the period PMA have conducted RC/AC drilling, GIS data compilation, preliminary base line hydrological survey, preliminary interpretation wire framing, geological reinterpretations and database management over the tenements. The main focus of the exploration completed to date has been to define near surface oxide base metals mineralisation that will allow the development of an open cut resource. An RC/AC drilling programme was completed in June July 2000 by PMA to test possible oxide Pb, Ag enrichment associated with surface geochemical anomalies. Significant oxide mineralisation was intersected in 26 of the 55 holes drilled at the L5, L5Sth and L1 anomalies. The drilling results indicate the potential for Pb, Ag oxide mineralisation associated with the Woodcutters structural corridor. Further drilling work is required to assess the oxide and primary mineralisation potential identified at the L5 prospect and other targets north of the mine over a strike length of 6 kilometres.