Third Quarter 2007
Highlights:
Africa
BOTSWANA – KIHABE BASE METALS PROJECT
Diamond core assays continue to give higher grades compared with those received from RC drilling and used in the initial Kihabe resource calculation.
A dual purpose RC/diamond core rig is currently drilling at Kihabe and completed 12 holes during the quarter, totalling 1,755m.
A gossan discovered during the quarter, 10km south of the Kihabe resource, returned grades from six rock samples as follows:
| Zinc | ranging from 7.89% to 21.95% |
| Lead | ranging from 3.93% to 7.63% |
| Silver | ranging from 2.35 oz/t to 20.58 oz/t |
namibia – tSUMKWE bASE mETALS pROJECT
1,120 geochemical samples were taken during the quarter to test that portion of the Kihabe zone of mineralisation that extends into Namibia.
namIBIA – Hardap Diamond Project
The Company has been awarded four Exclusive Prospecting Licences for precious stones in the Hardap region of Namibia, which covers an area of known kimberlites.
Australia
WESTERN AUSTRALIA – TELFER GOLD pROJECT
During the quarter the Company continued with joint venture negotiations on its Telfer project.