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Classification: Third Quarter Activities Report , Third Quarter Cashflow Report
STRIKER RESOURCES NL 2002-04-30 ASX-SIGNAL-G
HOMEX - Perth
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A summary of the company's activities and results for the quarter
ended 31 March 2002 is presented below.
CORPORATE HIGHLIGHTS
* Completion of a $1.0 million placement to institutional and
selected private investors.
* Issue of a Prospectus for a pro-rata non renounceable entitlement
issue to raise approximately $2.5 million.
EXPLORATION HIGHLIGHTS
GOLD
* Negotiations concluded with De Beers Australia Exploration Limited
(De Beers) regarding gold and diamond rights to certain tenements in
the north Kimberley.
* CSIRO research scientists reported that analysis of gold particles
collected from stream samples indicated a close proximity to a source
of mineralisation. Several grains also revealed an association with
quartz, calcite and alumina silicates which is considered likely
primary vein material.
* Analysis of a coarser fraction from reconnaissance orientation soil
samples has generated two spectacular and separate gold soil
anomalies assaying 16.7g/t and 10.5g/t.
* Reconnaissance rock chip samples taken from epithermal veins and
quartz reef systems report gold up to 491 ppb.
* Results to date suggest that a new Proterozoic-aged gold province
may have been identified in the north Kimberley.
* A second program of infill and reconnaissance soil samples is
currently underway, with first results expected within four weeks.
* Application has been made for a further 7,357 sq km in the
Kimberley over areas believed to have potential for gold
mineralisation. Striker interests in the Kimberley now cover over
17,500 sq km.
DIAMONDS
* The 2002 field program commenced during the quarter.
* Plans are at an advanced stage for the bulk testing of the Seppelt
1 pipe.
* Ground magnetic surveys are underway to define on the ground a
dipolar magnetic anomaly located in close proximity to a 30 tonne
bulk stream sample, which reported 7.34 carats of diamonds.
* A 50 tonne reconnaissance bulk strewn sample taken from a stream
30km from the Seppelt project area produced a 1.72 carat near perfect
gem diamond valued at US$720/carat.
* De Beers reports 26 high priority indicator-mineral samples
together with several priority targets identified from their airborne
multi-spectral scanner survey.
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