December 31, 2005 The Limited previous drilling (total of 6 holes) had intersected high-grade silver mineralization with near-surface intervals including 6.0 metres at 451 g/t silver and 1.7 g/t gold, including 1.0 metre at 2,020 g/t silver and 5.8 g/t gold. High-grade silver-goldantimony-lead assay results in samples from small dumps near old workings further highlight the prospectivity of the project, which soil geochemistry shows has a strike length of some 1.1 kilometres.
December 31, 2004 Two diamond core drill holes, each 75 metres in length were drilled in the Valiña area to test silver and gold mineralisation associated with artisanal workings located on a 2.5km long mineralised structure. Silver mineralisation with lesser amounts of gold and base metals were intersected in both holes over several metres with a peak silver assay of 301g/t. Together with previous drilling on this structure these
results indicate the potential for a small high grade silver deposit. However the combination between this mineralisation and the results previously obtained from the Chousa target 7 kilometres to the south is evidence of the large scale mineralisation system thought to be present across the broader project area.
June 30, 2004 Efforts are focused on an area 10 kilometres south of Castro in the Chousa-Arcos area, where an epithermal system has been identified between surface and 70 metres. It remains open at depth. Gold mineralisation of very fine grain size is hosted in several layers within an intensely altered package. The auriferous layers display an elongated geometry and possess the potential to be exploited by open-pit methods. A number of other trends have also been defined but have yet to be followed up by further exploration.