Do your own Research, the following information is for those non-HEG holders, I smell so much similarity between HEG and RMS(which jump from $0.57 to $1.38 last Friday)
Reward
• Initial high grade portion of Reward has 75,900oz inferred resource with 124,400
tonnes grading 19g/t gold at a 5g/t cut off grade.
• Ultra high grade Paxton’s zone contains 23,000 tonnes at 48g/t containing
35,350oz with drill indicated continuity of near 200 metres strike length.
• Trial mining and gold processing of the high grade Reward resource to
commence during 2007.
• Mining contractor to start development from existing workings.
• Refurbishment of the existing gold processing plant underway.
Red Hill
• Red Hill drilling has confirmed Hawkins Hill style mineralisation, established
geological continuity and extended vein sets.
• En echelon vein sets at Red Hill continue at depth with associated stockworks
indicating potential for increased mineralised widths.
Exploration target potential
• 1 million ounce exploration target potential in two kilometre long Hawkins Hill –
Reward – Germantown vein system.
Laos
• 51% interest acquired in significant Lak Sao Project in Laos.
Corporate
• Options exercise expected to increase cash reserves by $16 million.
The resource estimate for part of the Reward area at Hill End was completed with the ultra
high grade Paxton’s Zone having an inferred resource of 23,000 tonnes at 47.8g/t of gold in a
total Reward resource of 124,400 tonnes at 19 g/t of gold. The appointment of contractors
was advanced for the bulk sampling of the Paxton’s Zone planned for later this year.
The continuity of the Hawkins Hill – Reward – Germantown and Red Hill mineralisation at Hill
End is now interpreted to extend for some kilometres at relatively shallow depths below
surface. At Reward the individual vein sets are interpreted to have a strike length of over two
kilometres with the en echelon vein sets extending to a depth of at least 500 metres.
An initial estimate of the potential of the exploration target, additional to the Reward
resources, in the mineralised corridor from Hawkins Hill to Germantown, is 2 – 2.5Mt at 10 -
20g/tAu containing a mid range of approximately one million ounces.
In Laos, a 2,000 square kilometre area on the Truongson Belt, which hosts the $17 billion
Sepon deposit, has been applied for in joint venture with Mekong Resources Pty Ltd. The
Lak Sao Project area has numerous precious and base metal prospects identified by
previous explorers, though as yet it is undrilled. The Laos representatives of Mekong
Resources are well regarded and highly qualified to provide support for the project. Initial
field reconnaissance has been completed and local consultants have been appointed.
On 5 April 2007, a free bonus share option issue to eligible shareholders of Hill End Gold was
announced. The issue, which will be listed on the ASX, is on the basis of one new share
option for every two shares held at close of business on the Record Date.
The Record Date for the new issue is 31 May 2007, which is the date on which the currently
listed HEGOA options expire. There has been a strong uptake and conversion of the HEGOA
options, which are exercisable at 15 cents, with major option holders and directors showing
their support for the Company and taking advantage of the free bonus issue of new options.
The new options will have an exercise price of 15 cents per share and will be exercisable at
any time up to and including 5.00pm AEST on 12 September 2008.
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