SEL 9591 2000/01 Annual report to 30th October 2001

Abstract

During the reporting period the following activities were undertaken: infill soil sampling, RAB drilling, RC drilling and rehabilitation program. RC drilling was completed at Bons Rush Prospect and intercepted high grade gold bedrock mineralisation including 16m at 3.0 g-t Au from 14m, 4m at 3.87 g-t Au from 59m and 1m at 80.5 g-t Au from 31m. RAB drilling program at Quest Far South Prospect delineated a north trending bedrock gold-arsenic anomaly over an area 1,400m by 500m in size. The best intersections included 6m at 102.5 ppb Au from the surface, 6m at 347.5 ppb Au from the surface and 3m at 584.5 ppb Au from 12 m. Infill soil sampling at Rhodes Prospect failed to delineate gold anomalism northeast and east of the Rhodes resource. The peak result returned was 5 ppb Au. The rehabilitation programs were completed over the Bons Rush and Quest Far South prospects.