Compilation of previous exploration data in the vicinity of the historical Kingston gold workings was completed in preparation for a reversecirculation (RC) drilling program planned to commence in February 2003.
The review found that previous exploration by Western Mining Limited included several drilling campaigns that identified significant gold mineralisation below the old workings and north east of the Kingston mineshaft. The drilling, which was primarily designed to test the oxide potential at shallow depth intersected a number of high-grade zones including 14m @ 26.6 g/t Au and 12m @ 15.9 g/t Au. Subsequent geological mapping has shown that a series of parallel quartz reefs can be followed for a distance of 600 metres to the northeast of the old Kingston shaft. A Work Plan setting out the RC drilling program has been submitted to the Department of Primary Industries for approval. The program is designed to confirm the previous WMC drilling results and begin exploration in the vicinity of the historical underground workings.
The company was notified during December that its application for an additional Exploration Licence abutting the Kingston tenements was successful. The Licence covers the northern extension of an aeromagnetic feature considered to be closely related to the Kingston mineralisation.
ARARAT (RANGE RIVER 100%)
Approval for a RAB drilling program in an area to the NNW of Ararat within the southern extension of the Stawell gold province was received in time for drilling to commence in mid January 2003. The program will consists of approximately 200 holes drilled to an average depth of 40 metres per hole. The program has been designed to test a number of structural targets in an area containing a number of extensively worked historical gold producing alluvial deep leads.
Following a review of previous exploration it was proposed that the major upper-crustal thrust faults mapped by the Geological Survey of Victoria including the Coongee, Cathcart and John Bull Faults are mineralised and were the source of alluvial gold that was mined from the surrounding Canton and Upper Wet Lead. The drilling is designed to test if there is an association between the alluvial workings, major structures and favourable geology in an area where it is considered the best targets are under alluvial cover and have not been previously tested by effective drilling.
FOSTER (RANGE RIVER 100%)
The Company continued the program of reconnaissance geological mapping and sampling at its Foster tenements during the quarter. Work included combined rock chip and stream BLEG geochemical sampling along the Waratah Fault Zone, the Waratah North magnetic anomaly and the Fish Creek East magnetic trend.
Results of the stream -80 mesh, BLEG and rock chip sampling from along the Waratah Fault Zone and the Dollar South dyke intrusion were received late in December. Historically the creeks draining the Waratah Fault Zone have been worked for gold and a section of Golden Creek draining the Waratah Fault returned 13 ppb Au and an adjacent creek returned 1.3 ppb Au against a background of less than 1 ppb. Additional sampling is proposed for this area and then only limited follow up sampling in the Fish Creek area remains to complete verification of the previous Range River regional stream survey.
NEW SOUTH WALES
During the quarter the Company lodged an Exploration Licence Application number 2001 over 100 graticular sections (256 km2) at Bokhara Plains inthe Lachlan Fold Belt in New South Wales including the present area of El 5032 which it will replace.
There was no field work on the Company's Marsden (100% owned) property.
CORPORATE
At quarter end, the Company had $4.15m in cash on hand and on deposit to carry out its active gold exploration program.
M Beer MANAGING DIRECTOR
RNG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
