Exploration

South Sulawesi, Indonesia

The outcome of trenching work at Mangkaluku in FY2007 was positive, with identification of the potential for at least two orogenic quartz lode systems similar to the mineralisation at Penjom. Following this work 12 drillholes (1,832 metres) were completed, evaluating the two most significant vein systems, which strike ENE over a distance of 600 metres with widths of up to 200 metres and NNE over a length of 500 metres widths of up to 100 metres.

Significant intercepts include 2m @ 117 g/t Au from 34 metres depth (MLD005) and 12m @ 3.51 g/t Au from 117 metres. (MLD007). Native gold is visible in seven of teh twelve holes drilled. These results are highly encouraging and warrant follow-up with broad infill drilling to define the resource Mangakaluku. Furher drilling work will remain subject to the usual permitting process.