Mineral Claim N 4254 (Redbank) summary report for the period 1 January 2004 to 31 December 2007

Abstract

MCN 4254 was granted on 26 June 2002 and expires on 31 December 2020. The tenement was transferred from Corporate Developments Pty Ltd to The Australian Land Company in 2006. The tenement area is 39.6 ha. The Redbank gold mineralisation was extensively explored by previous holder Magnum Gold NL including mapping, rock and soil geochemical surveys, trenching, Induced Polarisation geophysical surveys, RAB and RC drilling. The work confirmed extensive anomalous geochemical response and the existence of significant outcropping high-grade mineralisation (8m x 19.3 g/t gold in a reverse circulation drillhole below 8m x 10.9 g/t in a costean) but was unable to substantiate mineralisation of any significant continuity or extent. Australasia Gold Ltd acquired 100% ownership of the Australian Land Company in April 2004. There is little record of substantial work having been conducted by The Australian Land Company under its previous ownership.