Striker Drilling Rig On Site

Oombulgurri Gold Project - Drilling Report

Document date: Tue 20 Aug 2002 Published: Tue 20 Aug 2002 14:38:37
Document No: 221615 Document part: A
Market Flag: N
Classification: Progress Report - Other
STRIKER RESOURCES NL 2002-08-20 ASX-SIGNAL-G

HOMEX - Perth

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The company advises that the rig has arrived on site to commence
drilling on the company's gold anomalies in the North Kimberley.

The drill program is planned to test 8 gold in soil anomalies that
have been generated from detailed soil sampling programs conducted at
the Magnesite, Epithermal and 88 Creek project areas.

Although these 3 project areas are located within a 12km long
structural corridor, they are in different geological settings. Each
area will be drill tested to identify the source rock for the gold
and to provide preliminary information on the extent of the
mineralisation.

A recent air borne ultra detailed low level magnetic survey and
radiometrics over the gold project area has reinforced earlier views
that the structural setting of the argillic alteration as defined by
the multi-spectral scanner, are coincident with the gold in soil
anomalies.

The surface gold in soil anomalies are large and vary in length up
to 1.5km's and will be drill tested to depths ranging from 100 to
150m.

The program is a first for the North Kimberley where drilling is
targeting minerals other than diamonds.

DIAMONDS:

The current drill program will also test a number of targets
identified as possible new kimberlite pipes.

Of prime importance is two targets identified from a ground magnetic
survey completed earlier in the year. The magnetic targets at
Collison are 200 to 300m in diameter. Nearby drainages have reported
high numbers of indicator minerals with 1 sample having 6,500
chromite and 7 pyropes and strongly suggests a nearby source of
kimberlite. Recent geochemical analysis of soils taken from the
anomalies using an enzyme leach technique, has shown the anomalies to
have associated elevated geochemical responses in Ni, Nb, Ba and some
rare earth elements. These responses can be indicative of a
kimberlite pipe.

Results from the drilling programs will progressively be released to
the market as they become available.

C Dodd
DIRECTOR