Quarterly Activities Report
For the period ended 31st March 2011
OVERVIEW
SALMON GUMS – Albany Fraser Province
- Three electrical geophysical targets (CSAMT and IP) defined at Lady Penrhyn and drill tested
- Reverse circulation drilling completed over Titanic, Borrowdale and Guardian soil anomalies
- Narrow primary quartz veining intersected at Lady Penrhyn with minor gold mineralisation
- Final assay results awaited
FRASERRANGE NORTH/NEALE – Albany Fraser Province
- Drilling planned for third quarter
CUNDEELEE
- An access meeting with the traditional owners was again cancelled and is now scheduled for the second quarter
WINDARRA
- Air core/RAB drilling planned to be conducted in the second quarter
WINDARRA TAILINGS
- Tailings study shows re-processing options to be uneconomic
TUSHTENA GOLD PROJECT - ALASKA
- Northern summer field season to prioritise structural geological mapping campaign
CORPORATE
- Cash on hand $2.73M
- Review of new gold opportunities continues
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