ASX MARCH 2011 QUARTERLY REPORT
Intense Exploration Continues at Woodline and About to Commence at Thaduna Woodline Gold Project
47 RC holes, 134 RAB holes and 1,445 calcrete auger samples completed to mid April:
- results only to hand for first 19 (out of 27) RC holes at Theofrastos
- results awaited for 14 RC holes at Ommaney, 6 RC holes at Socrates as well as all RAB holes and calcrete samples
Mineralised ‘lodes’ consistently recognised in RC drilling
- highest result of 15 metres at 0.7 g/t gold (including 5 metres at 1.1 g/t), but 11 holes returned intersections above 0.1 g/t gold
- these results are considered very encouraging, as drill section spacings range from 0.5 kilometres to 1.5 kilometres, within 15 kilometres of gold-in-calcrete anomalies at Theofrastos alone
Very importantly, we believe that these results, when looked at in the context of the wide drill spacings, the size of the gold-in-calcrete and bottom-of-hole RAB gold anomalies continue within the range of early RC and RAB results from the 5 million ounce Tropicana resource in similar rocks to the northeast
Thaduna Copper Project
Drilling, which had been delayed by earlier rain in the Gascoyne Region, is scheduled to commence in early May. At least 14 strong copper (and other elements) anomalies from earlier RAB drilling are to be targeted by closer-spaced RAB holes before deeper RC drilling.
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