Anyone Know if this could be Worthwhile ?

AKD LIMITED 2002-10-15 ASX-SIGNAL-G

HOMEX - Perth

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Newmont Peru Limited ("Newmont") has identified a robust gold anomaly
(up to 1,100 ppb Au in soils) at AKD's Chinguela gold project in
northern Peru.

The gold anomaly is approximately 1000 x 400 metres in size and is
coincident with a soil covered area within the western stock
work-vein zone at Chinguela.

Mapping of the property at a scale of 1:5000 has identified two NNW
striking lines of andesitic tuff-hosted quartz veining and
silicification: (1) the "western zone" which forms a stock work zone
of quartz veining 1.7km in length and up to 15 metres in width and
(2) the "eastern zone" which has a strike length of about 500 metres
and consists of a 5-metre wide discontinuous zone of quartz veining.

Rock chip sampling from within the soil anomaly area has returned
consistently anomalous gold values and silver values. Results for
multi-element assays are still pending.

Exploration by Newmont has included:

* Geochemistry: A total of 53 stream sediment, 257 rock chip and 601
soil samples have been collected.

* Geophysics: A combination of gradient-array
chargeability/resistivity surveying followed by selected lines of
dipole-dipole traverses has been completed. The survey has just
finished and the data has not been interpreted to date.

Newmont Peru Limited ("Newmont"), a wholly owned subsidiary of
Newmont Mining Corporation (NYSE, ASX: NEM, TSX: NMC) entered into an
agreement with AKD's subsidiary, Terrace Gold NL, over Terrace's 100%
owned Chinguela gold project in northern Peru on July 26 this year.

Newmont has the right to earn up to 70% interest in Chinguela by
spending US$4 million (AUD$8 million) over 6 years and paying Terrace
US$65,000 cash (AUD$130,000 cash) within the first two years. Newmont
also has the right to earn an additional 10% interest in Chinguela by
bringing the project to completion of mine feasibility.


Z A Sas
MANAGING DIRECTOR