Shareholders,
Just an article from CNN Europe brought to my attention which you may find interesting in the current gold climate. Click here to view

The photographs below are of the equipment contracted to probe below MIN 5492, Glenfine, to find the brackish water needed for the sands treatment (to recover gold). Water was found where anticipated - see the illustrative drawing below.

Reflecting on these photos -

1. This is the first time for about 100 years that machinery operating here has a purpose related to new gold and
2. Here we see how gold is always found in Victoria - or elsewhere really. People act because they have a belief that a particular area needs to be investigated for gold.

People with access to the machinery seen in these photos are a powerful combination. The larger (red) water bore drill rig quickly deals with the two layers of basalt. The smaller (white) multipurpose rig is set up for coring into the ancient surface. Even to limited depth, the core is of immediate value, because -

1. the Company now have the facts and therefore the ability to answer Question 1 on the required responses list for the Work Plan application, and
2. better still, have material to analyse for new knowledge about this old gold deposit.

In the photos below we have people considering the outcome having drilled through the two basalt layers and the gravels below. The upper section of the hole was percussion drilled: this is an Ingersoll Rand P60 water-boring rig.

The change-over to the Boart Longyear rig enables the collection of core into bedrock, from 40m to 73.6 metres.

This illustration shows something of the nature of the geology underlying MIN 5492, at Glenfine.

More news as activities progress.

 

Fred Hunt
Chairman
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10August 2009
21 July 2009
02 July 2009
16 June 2009