ASX ANN today and AGM is today
29/10/2007 Quarter Cash Flow Report
Total: cash at end of quarter (item 1.22) $4,018,000
01/11/2007 1st Quarter Activities Report
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00778314
1st Quarter Exploration Activities
Summary
· Forrestania Project (near Hyden, WA) – Gold & Nickel
o Results from the RAB drilling programme to test for northerly extensions to the known North Ironcap gold resources have been returned and indicate some potential for further gold mineralization within the ferruginous chert, which hosts the gold mineralization to the south. Reverse circulation (RC) drilling will be required to assess this target horizon further.
· Jigalong Project (near Newman, WA) – Iron, Uranium & Base Metals
o A 3rd MMI soil sampling programme was completed during the 1st Quarter with an interpretation of the results to be released during November 2007
o A detailed magnetic interpretation of the northern portion of the project
was progressed during the 1st Quarter by Bruce Craven from Southern Geoscience, with the report anticipated to be received during November 2007
o Discussions with the advisers to the Jigalong Community Inc continued during the Quarter and are ongoing
· Queen Victoria Rocks (near Coolgardie, WA) – Nickel & Gold
o A helicopter borne VTEM survey was planned over the QVR magnetic features during the 1st Quarter. Of particular interest is the magnetic feature to the north of the Spargos Ultramafic. It will be flown in conjunction with a major nickel miner, who is in joint venture with tenement holders on the tenure immediately to the west of Hannans ground.
o A review of Hannans’ historical exploration results during the 1st Quarter has identified that lithogeochemical studies at the Spargos and Valliant gold prospects may assist drill targeting and identification of a source to the previously identified auger and gold anomalous alteration systems identified in the aircore drilling.
· Sunday (near Leonora, WA) – Gold & Nickel
o An auger soil sampling programme of 524 samples was completed during the 1st Quarter; a one-point gold anomaly of 857ppb gold was returned; a nickel anomaly of 2,343ppm Ni along strike from the Malcolm Creek nickel prospect was returned
o A second auger soil sampling programme of 442 samples was also completed
Be the first to comment