May 31, 2008 A second phase of auger gold-in-calcrete sampling began immediately after completion of the initial program in early May 2008. This involves taking a further 1200 auger gold-in-calcrete soil samples targeting the most prospective anomalous results received to date. This phase will infill the sampling grid in these areas to a density of 500 metres by 200 metres. This work is expected to be completed by mid June 2008.
On 26 April 2008, the soil sampling team remobilised to the prospect to complete the planned program. Statistically, anomalous gold results in this geological terrain are considered by Iluka to be above 4 parts per billion (“ppb”) gold. Iluka received (50) samples above 4 ppb gold with a maximum returned gold result of 13 ppb.
Between 21 November 2007 and 29 January 2008, Iluka completed 31 of a planned 42 regional auger gold-in-calcrete soil sampling traverses. Sampling was completed on a 1000 metre by 200 metre grid across Iluka’s two most western exploration licences: E69/1994 and E69/2047. A total of 1673 samples totalling 2693 metres were taken and analysed for gold and a range of other elements. The program was suspended in late January 2008 due to the threat of bush fires.