re: smc...any views Here is todays anouncement,Sorry about the...

re: smc...any views Here is todays anouncement,

Sorry about the format.

HIGH GRADE GOLD ASSAYS RECEIVED FROM DRILLING IN TWO NEW
AREAS, WOOLGAR GOLD PROJECT, QLD.
The Company advises that it has received high grade gold assays from drill testing of
two new target areas at Woolgar. The target areas are separate from the Explorer Main
vein prospect which is the subject of a separate drill evaluation program.
The new target areas are:
A) EXPLORER SOUTH PROSPECT, located in EPM 9599 and 200 metres south of
the Explorer main vein
B) FINN NORTH PROSPECT, also located in EPM 9599 and 2km west of the
Explorer main vein
A) At EXPLORER SOUTH , drill hole EXRC 143 , sited below hole EXRC 74
which returned 3m @20.1 g/t Au from 39 metres in the 2002 drill program,
gave the following result.:
EXRC 143 from 51 - 53 metres: 2 metres at 84.31 g/t Au
This is part of a broader intersection that averages
from 46 - 55 metres: 9 metres @ 21.66 g/t Au
Individual assays received are:
from 46 metres: 1 metre @ 7.42 g/t Au
from 47 metres: 1 metre @ 4.10 g/t Au
from 48 metres: 1 metre @ 1.66 g/t Au
from 49 metres: 1 metre @ 5.05 g/t Au
from 50 metres: 1 metre @ 5.72 g/t Au
from 51 metres: 1 metre @ 84.92 g/t Au
from 52 metres: 1 metre @ 83.70 g/t Au
from 53 metres: 1 metre @ 1.04 g/t Au
from 54 metres: 1 metre @ 1.37 g/t Au
The intersection is located some 20 metres down dip from hole EXRC 74 and is open at
depth and down plunge to the west.
Other drill holes completed in this area gave the following results.
EXRC 122 from 52 - 53 metres: 1 metre at 2.1 g/t Au
EXRC 123 from 44 - 48 metres: 4 metres at 5.03 g/t Au
EXRC 124 from 33 - 34 metres: 1 metre at 6.28 g/t Au
EXRC 141 no significant results (vein not intersected)
EXRC 142 from 31 - 33 metres: 2 metres at 5.91 g/t Au
(high grade vein not intersected at depth)
EXRC 144 no significant results (vein not intersected)
Due to structural complexities, it is believed that Holes EXRC 122, 124, and EXRC
141, 142, 144 did not intersect the main vein at the target position.
b) At the FINN NORTH PROSPECT, drill holes FERC 04 and FERC 05 were sited
to test an outcropping epithermal vein that gave surface assays of 354 g/t Au and 7.75
g/t Au respectively when sampled over a 50 metre strike length in 2002.
Significant results from this drilling include:
FERC 04 from 26 – 27 metres : 1 metre @ 54.90 g/t Au
FERC 06 from 19 – 21 metres : 2 metres @ 5.40 g/t Au
from 31 – 33 metres : 2 metres @ 17.74 g/t Au
These are the only two holes drilled so far on the FINN NORTH VEIN which has been
traced for over 400 metres in surface outcrop.
Location details for both areas are shown on the attached plan and Table 1.
PRELIMINARY EVALUATION OF THE RESULTS
1. There is now a proven situation where high grade Bonanza type intersections occur in
at least two locations other than the Explorer main vein prospect.
2. The results all occur at less than 100 metres depth and are 100% for Strategic’s
benefit.
3. The results should assist Woolgar farm in partner Barrick Gold to develop targets for
testing below 100 metres depth.
Additional geological, geophysical and follow-up drilling work is required to determine
if these results lead to the definition of further significant Explorer type mineralised
shoots around these high grade gold intersections.
FURTHER RESULTS
A full report on all drilling completed to date, including all further holes at the Explorer
main vein prospect within MLA 90122, will be provided once final assays and drill data
information is received.
Yours Sincerely,
W.A.C. Martin
Managing Director
Note: The information in this report has been compiled by Mr Barry Fehlberg who is a member of the Australian
Institute of Mining and Metallurgy and has a minimum of five years experience in the field of activity being reported
on. This report accurately reflects the information compiled by that person
TABLE 1
COLLAR LOCATIONS ASX RELEASE JULY
2003
EXPLORER SOUTH VEIN
Hole ID AMGE AMGN DIP
AZIMUT
H DEPTH
EXRC 122 750435 7809365 -60 210 57m
EXRC 123 750467 7809360 -65 210 52m
EXRC 124 750396 7809373 -60 210 60m
EXRC 141 750490 7809352 -76 210 24m
EXRC 142 750467 7809360 -80 210 66m
EXRC 143 750454 7809361 -75 210 59m
EXRC 144 750359 7809395 -50 210 53m
FINN NORTH VEIN
Hole ID AMGE AMGN DIP
AZIMUT
H DEPTH
FERC 04 748798 7810169 -50 200 36m
FERC 05 748789 7810175 -50 200 42m