MAGGIE HAYS SOUTH – HIGH GOLD VALUES· 226g/t gold rock chip...

MAGGIE HAYS SOUTH – HIGH GOLD VALUES
· 226g/t gold rock chip sample confirms gold potential
Hannans Reward Limited (“Hannans�) recently completed a field reconnaissance programme over an
area known for anomalous copper-gold-molybdenum soil values within the Maggie Hays South
(“MHS�) Project, located 110kms west of Norseman, Western Australia and 25kms southeast of the
Emily Ann and Maggie Hays nickel sulphide mines owned by Russian mining giant Norilsk Nickel
(refer attached Regional Location Map).
A number of rock chip samples collected during the programme returned anomalous gold values with
one sample - collected along strike from historic gold workings - returning a very high value of 226 g/t
gold, refer to table below. Whilst preliminary in nature, this high gold value is considered to be very
significant due to its location within the known project geology. Multi-element results are awaited.
At MHS two areas of anomalous soil samples have been identified coincident with a structural flexure,
which are 800mx450m and 700mx400m respectively, open to the north and the east beneath Lake
Johnston. Recent field mapping has indicated the presence of altered and strongly sheared
intercalated mafic and felsic rocks favorable for shear hosted gold mineralisation. The presence of
contact metamorphism, strong alteration, felsic porphyry intrusive units and elevated molybdenum
could also indicate a porphyry copper-gold mineralisation system.
It is important to note that exploration activities at MHS conducted previously by Hannans and its
Partners had focused on nickel. Other than the re-assaying of drill samples targeting nickel, minimal
modern day exploration techniques have been applied targeting gold.
This recent reconnaissance programme follows a reassessment of the copper-gold-molybdenum
potential of MHS during the second half of 2007 by the Hannans Exploration Team, including
acquiring regional aerial magnetic data and completing an initial structural interpretation. This review
also resulted in two large tenements (100% Hannans) being applied for covering ground adjacent to
the existing project tenure. This additional ground has the potential to add significant value to the
project as a whole and compliments the existing holdings.
Exploration will continue at MHS with the aim of identifying a significant occurrence of mineralisation.