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September 30, 2005
Drilling of the Lake 410 structure was terminated due to unfavourable weather conditions. During 2005, follow-up exploration was conducted in two localities which appeared particularly promising from previous sampling. The first locality is known as the “LGM gold occurrence” where previous sampling has returned samples in the range of 2-60 g/t. Preliminary results from this year’s work show that two new high-grade samples were located. These samples outline a continuation of the high-grade zone already known. The second locality is an area with several quartz veins, which last year returned gold values between 1-3 g/t.The exploration so far has been unsuccessful in identifying mineralization with commercial dimensions.
June 30, 2005
Drilling tested the strike continuity of the mineralized structure at Lake 410.
December 31, 2003
The drilling returned significantly anomalous intercepts of 2.2 g/t over 2 meters in drill holes one and two, and 0.2 g/t and 0.3 g/t in drill holes three and four. In the Niaqornarsuk peninsula extensive prospecting has led to the delineation of three highly prosperous areas, which warrant immediate follow up and further exploration work. In summer 2003, the regional exploration campaign conducted on the Nanortalik licence comprised three field teams, which were deployed to 15 fly camps in the period Jul07 to Aug06/03 with helicopter support. 304 sediment samples and 406 rock samples were collected during this program. Results were pending. Samples showed in-situ visible gold in new locations and several very substantial structures, which were suspected for mineralization, were tested by both sediment and rock sample programs. A core drilling program was conducted on the Lake-410 gold target where four drill holes with a total length of 930 metres were completed from Aug12 to Aug30/03. Visual inspection of the drill cores shows significant Arsenic-sulphide mineralization with associated quartz veining in all four drill holes, at positions which support a single continuous structure. No visible gold was observed in the drill cores; however, the results are encouraging as the drill holes test a potential area of 900 x 300 m. The width of the mineralization varies between 4 m and 1.2 m, which is substantially more than seen in any drilling at Nalunaq (see separate listing). Samples have been submitted for assaying to SGS, Canada. In 2002, the property was consolidated and expanded to a total of 1,081 sq. km and a renewed regional exploration campaign was commenced covering the entire area. This campaign included a complete review and compilation of all previous data in a new database and the printing of new map compilations. From 1993 to 1995, sporadic work was conducted in parts of the licence area and additional examinations were conducted in 1997 and 1998. In 1990, exploration began.