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June 30, 2005
A CSAMT geophysical survey by the Chinese Academy of Sciences was also completed over the balance of the tenements. Subsequently, Berkeley has visited a number of operating underground mines along the Jiaojia and associated faults and consulted with a number of local geological experts to reinterpret the drilling and geophysical data in a regional setting. A complete review of the results from Stage 1 has been undertaken and Berkeley has taken a decision that, in the absence of any further information, the Company will not proceed further with exploration at Xin Zhuang.
December 31, 2004
The stage 1 exploration program was completed. This stage comprised approximately 4,500m of diamond drilling in 10 vertical holes. The drilling mainly targeted anomalies on the western third of the project tenements, identified by a CSAMT geophysical survey. Drilling generally intercepted the intended targets, including the main Jiaojia fault, which hosts a number of significant deposits in the area. A number of zones of phyllic or silicious alteration with disseminated sulphide mineralisation were encountered and sampled however, no economic gold mineralisation was intercepted.
June 30, 2004
A geophysical survey identified the continuation of the fault under the quaternary cover and highlighted at least three significant flexures. Comprehensive modelling of the geophysical data on the Western third of the tenements, where one of the three flexures is located, identified a number of drill targets interpreted to be similar to the structures hosting deposits to the south. This portion of the tenements is the subject of the joint venture’s initial drilling campaign, commenced in late May 2004. The campaign will comprise 8 or 9 diamond drill holes up to 750m deep and will be completed before Christmas 2004. It is designed to firstly, provide structural understanding of the fault in the northern extension, including the orientation of the fault and the host rock types and secondly, to test the main geophysical anomalies identified. Meanwhile, a further geophysical report on the balance of the tenements is being completed, also prior to Christmas 2004.