Highlight Summary ? Drilling continues at Vatovorona ? Over 2,000 metres of RAB holes completed Vatovorona Gold Project Varun Torian International SARL (“VTI”) (35% Torian) As at 10 February, 139 15 metre RAB holes for a total of 2,081 metres had been completed in accordance the Torian plan for the drill program. Samples from these holes are being stored on site and will be prepared using the onsite sample preparation lab before being sent to South Africa for assaying. This amounts to approximately 60% of the planned RAB holes. Subject to the weather all RAB holes will be completed by the end of the month. The wettest period in Madagascar begins late February (rainy season is Dec – March). The weather has made operations on the ground at Vatovorona more difficult this year than in the past two. Before commencing any diamond holes the crews have been waiting the arrival of an Ezy-Mark orientation tool which is due today. It is anticipated that the first diamond hole will be completed in the next 7 days. The sample preparation lab arrived on site on 30 January. Commissioning of the lab is due to take place in late February. There were some weather related delays while transporting the lab. It is now located in the operational area on the east side of the trial mine area. The area also contains an office, storage container and covered logging tables. Developments at the camp are ongoing to improve working and living conditions. Peter Ashcroft P. (02) 9247 2277 E. [email protected] Executive Chairman Attribution The information in this report that relates to Exploration Results is based on information compiled by Todd Axford, who is a member of the Australasian Institute of Mining and Metallurgy. Todd Axford is a part-time employee of the company, and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the December 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Todd Axford consents to the inclusion in the report of the matters based on his information in the form and context in which it appears
TNR Price at posting:
4.0¢ Sentiment: None Disclosure: Not Held
