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March 31, 2006
Assay results have been received. At Great Eastern prospect (5.2 g/t Au over 2 m including 9.2 g/t over a meter, 2.9 g/t Au over a meter, and 1.8 g/t Au over 8 m), RC drilling has tested 200m of strike length of the Great Eastern vein system to a maximum depth of 90m. Although several quartz lodes were intersected only one lode appears to be consistently gold mineralised. A shallow RC drilling program at Bottle Tree has shown that this silver-bearing vein is almost flat lying with a dip of approximately 20 degrees to the southwest. Only 4 holes intersected the vein along a strike length of 150m at depths shallower than 30 metres. Intercepts were 1-2m wide (true width), the best being BPT002 with the other holes returning only anomalous silver and gold results. Aircore drilling to a maximum depth of about 30m was used to explore for two sub-parallel veins at the Brady’s prospect along a strike length of 450m. Several holes intersected narrow quartz veining, but assays were generally low with gold anomalous values up to 0.25g/t over several metres. No further work is planned for the Brady prospect.
January 31, 2006
Drilling utilising two air-core and reverse circulation (RC) drill rigs commenced. The company will drill test during January three prospects (New Vein, Great Eastern and Brady), all of which have returned strong gold and/or silver mineralisation during initial sampling.
December 31, 2005
High-grade gold and silver assays from surface samples collected at three vein prospects during the quarter are currently being followed-up with drilling. Recent assay results of outcropping quartz returned values of several ounces per tonne silver the highest being 22 oz/t silver. The target at Auburn is a high-grade Cracow-style multiple quartz lode system. Results from an initial 2000 metre drill program are expected by the end of February 2006.