Thursday, 03 April 2008: Significant Copper Gold Assays from Adelaide Fold Belt

• Significant copper results were obtained from reconnaissance sampling in the former Wheal Sarah Mine area within the Washpool tenement. Grab samples assayed up to 28% Cu, with an average value over six samples of 7.65% Cu.
  
  
• In addition, a north-south trending zone to the east of Wheal Sarah has been identified with grab sample grades up to 1.5% Cu, with an average over 12 samples of 0.31% Cu.  Within this zone, cobalt grades up to 0.17% were associated with low-grade copper in intensely altered rocks.
  
  
• A follow-up induced polarisation survey (IP) is planned in the vicinity of the Wheal Sarah Mine, to validate and extend historic IP generated anomalies as well as to pinpoint early drilling targets.
  

•  Recent reconnaissance stream sediment sampling (26 samples) on the Three Creeks tenement has yielded anomalous gold values up to 1.98ppm Au (equivalent to 1.98g/t).
  

• A detailed stream sediment sampling programme (118 samples) to identify the source of the gold has been completed, with assay results expected within five weeks.