Annual exploration report year ending 14 April 2004 EL 10347 Golden Dyke Dome

Abstract

The exploration licence is centered abround Golden Dyke Dome and comprises several prospects/deposits. Here, gold occurs in the cherty carbonaceous mudstone of the Koolpin Formation. In the past, area was explored by geological mapping, costeaning, soil sampling, diamond and RC drilling So far, it has produced a toal of 295000 tonnes of ore @ 4.0 g/t from several prospects. Subsequent reviews suggested that some residual gold was present. During recent drilling program, several low to moderate grades were defined. Currently, the area has low ranking in priority due to gold potential of the area and also adverse ecnomic conditions, whcih prevailed during much of the 2003.