More Good Grade Diamonds

Diamond Activities - Update

Document date: Mon 09 Sep 2002 Published: Mon 09 Sep 2002 11:08:45
Document No: 222634 Document part: A
Market Flag: Y
Classification: Progress Report
STRIKER RESOURCES NL 2002-09-09 ASX-SIGNAL-G

HOMEX - Perth

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HIGHLIGHTS

* 6,448 commercial size diamonds have been recovered from the sorting
of 566 tonnes of crater infill sediments from the Sepelt 1 pipe, with
grades up to 44 cpht. A further 600 tonnes awaiting diamond recovery.

* 130 tonnes of Seppelt 1 macrocrystic kimberlite and 190 tonnes of
overlying deeply weathered kimberlite have been processed with
concentrates dispatched to Striker's Perth Laboratory for diamond
recovery.

* 150 tonne of macrocrystic kimberlite excavated and awaiting
processing from the Seppelt 2 kimberlite.

* Further sub-outcrop and float found associated with the Beagle
kimberlite located 10 km north Ashmore.

* Three magnetic 'bulls eye' anomalies at Collison ready for drill
testing. Soil geochemistry supports possible kimberlite from two of
the targets ranging in size up to 300m in diameter.

* Follow-up of a 1.73 ct gem quality diamond continuing with the
focus being on the northern tributary of the drainage.

* Reconnaissance exploration continuing with some 400 samples
collected to date, and 316 line km of ground geophysics completed.

* De Beers Multi-Spectral Scanner survey of 1,725 sqkm in addition to
aeromagnetic surveys were completed in two areas totalling 100 sqkm.