First Quarter 2008
Highlights:
MANAGEMENT
Mr Murray Surtees, B.Sc, MDP, F.Aus.IMM, has been engaged to oversee the day to day geological operations and resource development.
KIHABE ZINC/LEAD PROJECT, BOTSWANA
Assay results from 16 diamond drill holes, drilled within the Kihabe Resource, were received during the quarter. The overall average zinc equivalent grade of the main zones of mineralisation encountered in these drill holes amounts to 4.34% zinc equivalent, based on LME spot prices for zinc and lead at 31st March 2008.
POTENTIAL TO DEVELOP ADDITIONAL RESOURCES –
DRILLING IN JUNE QUARTER
Potential exists to develop additional open cut resources at Kihabe, to the west, the north and the south of the existing resource and also at depth to the 200m RL.
Potential exists to develop, within a short time frame, an open cut resource with a minimal stripping ratio, at the Nxuu Prospect, seven kilometres east of the Kihabe Resource. Significant zinc/lead mineralisation has been intersected in drilling a near surface, flat lying quartz wacke, covering an area of some 216,000 square metres.
