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21st
December 2000 The Company is pleased to announce the recover of a further 134 gem quality diamonds weighing 24.0 carats from 120 tonnes mined from the Monte Christo Mine at Bingara, NSW. The grade recovered was 20.0 carats per hundred tonnes, with the average size of the diamonds being 0.18 carat. No dry screening of the rocks processed was carried out. The gravels being mined are from beneath a layer of volcanic ash several metres thick from which low grades of gem diamonds were previously reported. They are from the deepest part of the crater mined to date. The sample being reported has come from the end of an exploratory trench twenty metres long and five metres wide cut back into the previous working face on the southeastern side of the mine. Overburden at the end of the trench has increased to ten metres, with the rocks washed being gravels in several layers and interbedded with sands. The total thickness of gravel and sand mined and treated was between one and two metres. Consideration is being given to using this exploratory trench as a tunnel entrance for further underground prospecting. A drilling program has been organised for early January to determine the thickness and extent of the diamond bearing rocks ahead of this trench, to determine the quantity of diamondiferous sands and gravels available for mining, and its extent and thickness, to allow development of mine plans. The program is also expected to further clarify the nature of the basement rocks beneath this substantial diamond occurrence. Diamond bearing material from Monte Christo is trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. At the Streak of Luck Tunnel, on the southern side of Mount Ross, at Copeton, the tunnel has been diverted to give a second intersection of the volcanic rocks present in the basement. Thirty tonnes of tuffisite and boulders mined to date by the diversion of the tunnel has yielded only two small gem diamonds. A total of 120 tonnes of rock was washed, but this included 90 tonnes of barren granite bedrock. Processing of concentrate from the Gloucester Ruby Project is continuing, and will be speeded by the arrival in the new year of a magnetic separator, used to reduce the large volumes of heavy concentrate being produced. The following statements
apply in respect of information in this report that relates to Exploration
Results. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. P Kennewell
The Company is pleased to announce the recovery of a further 125 gem quality diamonds weighing 23.3 carats from 100 tonnes mined from the Monte Christo Mine at Bingara, NSW. The largest stones recovered were 1.6 and 1.2 carat whites. The grade recovered was 23.3 carats per hundred tonnes, with the average size of the diamonds being 0.18 carat. This is a significant increase in size from the average of 0.13 carats per stone in many parts of the early development of the pit. No dry screening of the rocks processed was carried out. The larger stones are interpreted to reflect the higher energy geological setting of the crater floor gravels from which they were obtained. The gravels being mined are from beneath a layer of volcanic ash several metres thick from which low grades of gem diamonds were previously reported. They are from the deepest part of the crater mined to date. Overburden in the pit is increasing to about ten metres. The sample being reported has come from the first part of an exploratory trench twenty metres long and five metres wide cut back into the previous working face on the southeastern side of the mine. Results from the second part are due next week. Overburden at the end of the trench has increased to ten metres, with the rocks washed being gravels in several layers and interbedded with sands. The total thickness of gravel and sand mined and treated was between one and two metres. Consideration is being given to using this exploratory trench as a tunnel entrance for further underground prospecting. Before committing to this operation, a drilling program will be carried out ahead of the trench to determine the thickness and extent of the diamond bearing rocks. Diamond bearing material from Monte Christo is trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. At the Streak of Luck Tunnel, on the southern side of Mount Ross, at Copeton, the tunnel has been diverted to give a second intersection of the volcanic rocks present in the basement below the layer of diamondiferous tuffisite and boulders. The ruby processing plant on the Gloucester Ruby Project has been successfully commissioned, and 135 metres of prospecting trench has been completed to date. Processing of concentrate from the plant is in progress. The following statements
apply in respect of information in this report that relates to Exploration
Results. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. P Kennewell
The Company is pleased to advise that its Queensland Sapphire Joint Venture has produced 23,287 carats of blue and 11,703 carats of coloured sapphire of plus 4.1mm size during its first month of production. Production of corundum and sapphire of minus 4.1 mm totalled 64,973 carats. The Company is entitled to 50% share of this production. The sapphire is a mixture of blue and coloured sapphire including green, lemon, yellow, gold and rare orange padparadscha sapphires. Large blue stones of up to 20 to 80 carats uncut are commonly encountered in the field. Mining is by open cut methods and the pit is currently being deepened to a lower level where it is anticipated, based upon previous experience, that higher grades are expected to be obtained. Results of production from this lower level are expected during the next month. Cutting and polishing of the Queensland stones has commenced with pleasing results and over 4,000 carats of finished stones have already been produced. Production of an initial range of Australian sapphire jewellery has commenced with shareholders and optionholders of the Company to be offered the opportunity prior to Christmas to purchase cut gemstones and a limited range of jewellery at a substantial discount on normal retail prices. Further information will be mailed to shareholders and available on our web site www.cluff.com.au in November. W Penninger
The Company is pleased to announce the recovery of a further 595 diamonds weighing 74.4 carats from 435 tonnes mined from the Monte Christo Mine at Bingara, NSW. The stones were recovered from the poorly sorted gravel about one metre thick on the south-eastern side of the pit. Mining is now continuing to the south-west. The average grade recovered was 17 carats per hundred tonnes. 6.2 grams of gold were also recovered during processing. Diamond bearing material from Monte Christo is trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Exploration
Results: 26th September 2000 Cluff Resources Pacific N.L. purchases interest in Sapphire Mine The Company is pleased to announce that it has purchased a 50% interest in a sapphire mine on the Anakie Sapphire Field, in Central Queensland. The acquisition aims to expand the range of Australian gemstones available to the Company for the manufacture of jewellery, and for sale of cut stone. The mine, operated by Junior Mining (Operations) Pty Ltd, is located at Sapphire, and was formerly owned by the Poll family. Junior Mining (Operations) Pty Ltd is a company operated by the Christianos team (The Greeks), well known miners and traders in sapphire in Asia, Europe and the USA. Their marketing expertise is expected to complement the Company's entry into this field. The terms of the acquisition were that Cluff settle the purchase of the mine for $300,000, and that Junior Mining (Operations) Pty Ltd reimburse Cluff $135,000 of the purchase price out of operating profits. On reimbursement the equity in the mine shall be 50% Cluff, 50% Junior Mining. The operation includes modern plant and equipment including an excavator, scraper, three front end loaders, two tractors, three trucks, a dry screening plant and jig based washing plant, and ancillary equipment, together with three mining leases and five mining lease applications. The mine is currently in operation, and has produced 60,000 carats of uncut larger size blue sapphire, together with 20,000 carats of uncut larger size green, yellow and parti-colour sapphire, within the last two months. Additional quantities of fine sized stone and corundum are produced. The wash is clayey in nature, and cannot be treated in wet weather, but the climate is predominantly dry. Sale price of the rough sapphire is subject to market fluctuations, but Cluff's share of profits is expected, under present market conditions, to be in the order of several hundred thousand dollars per year. Upgrading of the stone and cutting to produce a more saleable product may enhance future profits. For further information please contact Peter Kennewell or Walter Penninger on (02) 9492 4655. P Kennewell 1st September 2000 53 Carats of Diamonds/ hundred tonnes: Monte Christo Mine. The recently discovered
layer of higher grade gravels located at the Monte Christo diamond mine
at Bingara, NSW has been further sampled, with 80 tonnes of unscreened
gravels yielding a grade of 53 carats per hundred tonnes. This is twice
the concentration of diamonds previously reported. The diamond bearing layer is half to one and a half metres thick where exposed along a thirty metre face, and dips into the hill at about ten degrees. Overburden has increased to about seven metres of clays. The gravels sampled were trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Exploration
Results:
A previously unknown layer of higher grade gravels has been located at the Monte Christo diamond mine at Bingara, NSW. The layer is half to two metres thick where exposed, and was found by excavating below a "false bottom" of basement like clays. These newly discovered gravels are several metres below a diamond bearing possible volcanic ash layer reported previously. The gravels dip into the hill at about ten degrees, and mining will continue in that direction. 380 tonnes of screened gravels have yielded 798 gem quality diamonds weighing a total of 98.3 carats. The grade was 26 carats per hundred tonnes, much higher than obtained previously at the mine. The largest stone recovered was a 1.1 carat white, together with another two stones of about one carat in weight. The diamond bearing gravels from Monte Christo are dry screened on site, and trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Exploration
Results: 2
August 2000 The Company is pleased to announce the recovery of a further 369 diamonds weighing 37.70 carats from 310 tonnes mined from the Monte Christo Mine at Bingara, NSW. The stones were recovered from the poorly sorted gravel about two metres thick on the south western side of the pit. Mining is continuing in that direction. The average grade recovered was 12.2 carats per hundred tonnes, which is higher than the grades reported from recent excavations. The excavations have exposed a tunnel with railway tracks in place, extending into the face at the south of the existing open cut. Excavations will be extended in that direction in due course. Diamond bearing material from Monte Christo is trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Exploration
Results:
The Company is pleased to announce the recovery of a further 1,094 diamonds weighing 114.05 carats from 1,192 tonnes mined from the Monte Christo mine at Bingara, NSW. The stones were recovered from the poorly sorted gravel about two metres thick on the south western side of the pit. Mining is continuing in that direction. The average grade recovered was 9.6 carats per hundred tonnes. 210 tonnes of the overlying overburden sands were also processed, yielding 30 stones weighing 3.6 carats. Diamond bearing material from Monte Christo is trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2 mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Exploration
Results:
The Streak of Luck
Tunnel, at Copeton, near Inverell, has intersected a diamond bearing mass
of broken and slurried rock fragments and boulders (sedimentary breccia)
beneath the granite bedrock ground by gasses (tuffisite) previously mined.
This sedimentary breccia is up to two metres thick, and horizontal, and
its nature and setting is
Treatment of 320 tonnes of red possible volcanic ash from the Monte Christo Mine at Bingara has yielded four gem quality diamonds weighing a total of 0.95 carats. Although certainly not economic, this result is encouraging, as it strongly suggests that Monte Christo is a primary source of diamonds. The rock containing the diamonds is fragmental, with fragments decomposed to red clay, and contains possible small bombs of fresh basalt like rock. Further studies are planned, but there is a limit to the information obtainable from red clay. The sample was taken carefully to avoid contamination with gravels from the mine. Mining has exposed an eight metre wall of basement rocks faulted against the diamond bearing gravels in the northern limit of the pit. This supports the Company's interpretation of the gravels as a crater fill deposit overlying a basement of crater lake muds. The Company is also pleased to announce the recovery of a further 91 gem quality diamonds weighing 10.2 carats from 123 tonnes of gravels mined from the Monte Christo Mine at Bingara. The stones were recovered from poorly sorted gravel underlying the possible volcanic ash. The average grade recovered was 8.3 carats per hundred tonnes. Diamond bearing material from Monte Christo is dry screened on site and trucked to the Company's jig based processing plant, which is located at Copeton and operates on a lower cut off screen size of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Exploration
Results: For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. P Kennewell
The Company's
10,000 tonne bulk sampling program at the Gloucester Ruby Project has
commenced with overburden removed from part of the first trench, and the
first truckloads trucked to the plant.
12
May 2000 The existing inferred resource of 4,600,000 carats of ruby (500,000 tonnes at 8 carats per tonne and 100,000 tonnes at 6 carats per tonne) extends over 1.5 kilometres of river flats and raised terraces. Recent work has confirmed the presence of ruby and sapphire 3 kilometres upstream from this inferred resource. 17.5 carats of ruby and 12.5 carats of sapphire were recovered from the treatment of 5 tonnes of material from sample BCE. The largest ruby recovered was a 2 carat deep red stone. This confirms the potential to considerably extend the existing inferred resource with further exploration and work is underway to extract sample BCF from a site 4.5 kilometres upstream from the area of the inferred resource. Results are expected next week. The Company's large scale bulk sampling program is expected to commence within the next two weeks. It will involve the mining of 80,000 carats of ruby which is expected to involve the extraction of approximately 10,000 tonnes of gravel, with processing at 100 tonnes per day in an operation expected to take approximately six months with a total cost of $350,000 including the drilling program. The material sampled is treated using a trommel and jig plant with 1.2mm lower screen size. The deposit occurs on EL5336, which is currently held by NSW Gold NL a wholly owned subsidiary of the Company and is the subject of an option held by Television Corporation of Australia Pty Ltd to purchase 51% upon payment of $5,000,000. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. Walter Penninger
19
April 2000 Notice is hereby given that the Annual General Meeting of the shareholders of Cluff Resources Pacific NL will be held on the First Floor, Sydney Vista Hotel, 7-9 York Street, Sydney on Wednesday 31 May 2000 at 11.00am. Proxy forms can be downloaded by clicking here (Word 98 document) SHARE PURCHASE SCHEME The Company is also pleased to announce that it has established a Share Purchase Scheme. The Share Purchase Scheme provides eligible shareholders, irrespective of the size of their share holding, with the opportunity to purchase listed shares in multiples of 10,000 shares from a minimum investment of $400. The maximum investment of $3,000 for 75,000 shares, includes a free 20 point cut Tanzanian ruby. The rubies come from an area in the south of Tanzania where the Company is negotiating to acquire equity in an existing mining operation. The rubies are currently being despatched for cutting so you should expect a 2-3 months delay in delivery of the stones. The purchase price of the shares is 4 cents per share. This represents a discount of 14.8% on the last sale price at the time of the announcement of 4.7 cents per share. Shareholders purchasing shares through the Share Purchase Scheme will not be liable to pay brokerage or stamp duty. Full details of the Share Purchase Scheme are set out in the application form. Due to regulatory considerations the number of shares available to all shareholders under the Share Purchase Scheme is limited to a maximum of 15% of the shares on issue unless the shareholders at general meeting approve the allotment of additional shares. Accordingly applications from shareholders will be accepted on a first come first accepted basis only and shareholders are not guaranteed that their applications will be accepted. This offer of shares under the Share Purchase Scheme closes on 5.00pm on Friday 26 May 2000 and application forms must be at the Company's office by that date. Shareholders should note that the market price of the Company's shares may change between the date of the offer and the date when the shares are allotted pursuant to the scheme. Accordingly shareholders are advised to check the current share price prior to deciding whether to apply for shares under the scheme. Shareholders in doubt should contact their financial advisers and may contact the Company if they have any questions relating to the offer. To download an application form, click here (Word 98 document) Walter Penninger 30 March 2000 Monte Christo Diamond Mine: Recovery of further 508 diamonds The company has recovered a further 508 diamonds weighing 46.6 carats during the last week from processing of 520 tonnes of material mined from the Monte Christo Diamond mine. Diamond bearing material from Monte Christo is trucked to the Company's Jig based processing plant located at Copelun which operated with a lower cut off jig screen of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The following statements
apply in respect of information in this report that relates to Inferred
Mineral resources ad Exploration Results. For further information please contact Peter Kennewell or Walter Penninger on (02) 9192 4655. P Kennewell
The Company is pleased to advise that its 0.8 metre diameter caldwell drilling program on the Upper Terrace at the Gloucester Ruby Project has established a new inferred resource of 600,000 carats of ruby, (100,000 tonnes at 6 carats per tonne). The new deposit also contains 300,000 carats of bright yellow, green and blue sapphire. The Upper Terrace
is a raised terrace which lies immediately to the south of the recent
alluvial flats which contain the previously announced inferred resource
of 4,000,000 carats of ruby (500,000 tonnes at 8 carats per tonne). These
raised river terraces now form a second target for ruby exploration in
the area. Both the inferred resources in the Upper Terrace and the recent alluvial flats remain open, and further work is continuing to extend both. The recovery this week of 66.5 carats of ruby from 3.5 tonnes of gravel at a grade of 19 carats per tonne of ruby from sample pit BW-D, which lies approximately 1.5km upstream from these inferred resources also confirms the potential to establish additional and perhaps higher grade inferred resources in the recent river gravels in the Backwater Creek area. The Company's large scale bulk sampling program, which is expected to commence immediately after regulatory approvals are obtained, is targeting the mining of 80,000 carats of ruby which is expected to involve the extraction of approximately 10,000 tonnes of gravels, with processing at a rate of 100 tonnes per day, in an operation expected to take approximately six months, with a total cost of $350,000 including the drilling program. The rubies in the Upper Terrace occur in raised coarse horizontal fragmental rocks forming a raised terrace, to the south, above, and separate from the previously announced inferred resource of 4,000,000 carats of ruby (500,000 tonnes at 8 carats per tonne). 100% recovery was obtained from most of the holes, and contamination was minimal. Most holes yielded one or more tonnes of ruby bearing rocks. These were tested with a trommel and jig plant with 1.2mm lower screen size, with most samples recovering several carats of ruby. Samples were processed in their entirety. Tracers were used to verify that all rubies were recovered and virtually 100% recovery was obtained. Holes were located by tape and compass survey, with holes generally at 20 metre intervals. The horizontal fragmental rocks, which average 1.7 metres in thickness, are covered by overburden generally less than 1 metre thick. The deposit occurs on EL5336, which is currently held by NSW Gold NL a wholly owned subsidiary of the Company and is the subject of an option held by Television Corporation of Australia Pty Ltd to purchase 51% upon payment of $5,000,000. The inferred resource was calculated using a polygonal method, including areas of low grade within the area of the resource, and without cutting higher grades. All thicknesses are true thickness. A cut off grade of 2.5 carats of ruby per tonne was assumed. The area extends approximately 400 metres by 150 metres, and is easily extracted by an excavator. Processing by tromel and jig and hand picking produces virtually 100% recovery of ruby and sapphire. For grade calculation it is assumed 1 bank cubic metre is the equivalent to 2 tonnes weight of rock. The information in the report to which this statement is attached relates to Mineral Resources or Ore Reserves is based on information compiled by Peter John Kennewell, who is a corporate member of the Australasian Institute of Mining and Metallurgy. Peter John Kennewell is employed by Kennent Pty Ltd, a consultant to the Company. Peter John Kennewell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. Peter John Kennewell consents to the inclusion in the report of matters based on their information in the form and context in which it appears. The result appropriately reflects Mr Kennewell's view of the deposit. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. P Kennewell
A further 380 tonnes
have been processed, yielding 221 gem quality diamonds weighing 27.0 carats.
The largest stone recovered was yellow and weighed 0.78 carats. The largest
white stone recovered weighed 0.49 carats. Haulage of an additional 500
tonnes to the processing plant has been completed, and another wash-up
is expected shortly. Diamond bearing material from Monte Christo is trucked
to the Company's jig based processing plant located at Copeton that operates
with a lower cut off jig screen of 1.2 mm. Diamonds are recovered from
jig concentrates using a grease table.Excavation of a 200 tonne sample
of red silty material of possible volcanic ash origin has commenced, and
haulage to the plant will commence shortly. The processing plant for the Gloucester Ruby Project has been installed and commissioned, and a Review of Environmental Factors, outlining details of mining of the 10,000 tonne bulk sample of ruby bearing gravels, has been lodged today with the NSW Department of Mineral Resources after discussions with several government authorities. Extraction of the bulk sample will commence when the proposal is approved. The information in the report to which this statement is attached relates to Mineral Resources or Ore Reserves is based on information compiled by Peter John Kennewell, who is a corporate member of the Australasian Institute of Mining and Metallurgy. Peter John Kennewell is employed by Kennent Pty Ltd, a consultant to the Company. Peter John Kennewell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. Peter John Kennewell consents to the inclusion in the report of matters based on their information in the form and context in which it appears. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. Peter Kennewell
15
February 2000 With work
resuming after the Christmas break the company has recovered a further
167 diamonds weighing 17.75 carats during the last week from processing
of 300 tonnes of material mined from the Monte Christo Diamond mine. The information in the report to which this statement is attached relates to Mineral Resources or Ore Reserves is based on information compiled by Peter John Kennewell, who is a corporate member of the Australasian Institute of Mining and Metallurgy. Peter John Kennewell is employed by Kennent Pty Ltd, a consultant to the Company. Peter John Kennewell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. Peer John Kennewell consents to the inclusion in the report of matters based on their information in the form and context in which it appears. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. P Kennewell
4
February 2000 The Company has today recovered 3 diamonds weighing 0.3 carats from 253 tonnes of material mined from the Streak of Luck tunnel at Copeton in northern NSW. The material processed was a mixture of tuffisite and granite cobbles and boulders mined from the tunnel and is the first material processed from the tunnel since the old Steak of Luck mine was reopened in December 1999. The material from the tunnel is trucked to the Company's nearby Jig-based processing plant located at Copeton which operates with a lower cutoff jig screen of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. The tunnel has now progressed to 62 metres from the portal entrance with the last 32 metres being in tuffisite with granite boulders and cobbles. Work is currently underway to decline the tunnel to test the tuffisite at a lower level. The objective of the tunnel is to establish the grade of the tuffisite intersected in the tunnel and determine whether the tuffisite is located within a volcanic crater which may be a primary source of the diamonds in the locality. The information in the report to which this statement is attached relates to Mineral Resources or Ore Reserves is based on information compiled by Peter John Kennewell, who is a corporate member of the Australian Institute of Mining and Metallurgy. Peter John Kennewell is employed by Kennent Pty Ltd, a consultant to the Company. Peter John Kennewell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. Peter John Kennewell consents to the inclusion in the report of matters based on their information in the form and context in which it appears. For further information please contact Peter Kennewell or Walter Perminger on (02) 9482 4655. P Kennewell
With work resuming after the Christmas break the company has recovered a further 105 diamonds weighing 11.9 carats during the last week from processing of 260 tonnes of material mined from the Monte Christo Diamond mine. Diamond bearing material from Monte Christo is trucked to the Company's Jig based processing plant located at Copeton which operates with a lower cut off jig screen of 1.2mm. Diamonds are recovered from jig concentrates using a grease table. Results from the initial processing of material from the Streak of Luck tunnel are not yet available but are expected to be announced later this week. The information in the report to which this statement is attached relates to Mineral Resources or Ore Reserves is based on information compiled by Peter John Kennewell, who is a corporate member of the Australasian Institute of Mining and Metallurgy. Peter John Kennewell is employed by Kennent Pty Ltd, a consultant to the Company. Peter John Kennewell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. Peter John Kennewell consents to the inclusion in the report of matters based on their information in the form and context in which it appears. For further information please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. P. Kennewell
12
January 2000 Partial results of the drilling programme over the Upper Terrace of the Gummi River shown on the attached map are to hand. The upper Terrace lies immediately to the south of the inferred resource of 4,000,000 carats of ruby (500,000 tonnes at a grade of 8 carats per tonne) established by the Company in the lower recent alluvials of the Gummi River. It is an independent deposit, unrelated to the recent alluvial gravels and appears to contain a slighly different suite of rubies and sapphires in a more decomposed fragmented rock. The nature of the mineralisation is uncertain at this time. To date 58 large diameter holes have been drilled into the Upper Terrace using a 720mm calweld auger drill. The holes were mostly drilled across the terrace at 20 metre intervals however the positioning of holes was affected by areas of swamp and trees. All wash recovered from the holes was transported to and treated in a small trommel and jig pilot plant with a 1 mm lower screen size and the jig concentrate then manually examined to recover ruby and sapphires. The results of 38 holes are now available and are set out on the attached table. The locations of the holes are shown on the attached map. Overburden is generally only 0.5 - 2.0 metres with wash thickness generally between I and 2.5 metres (see table). Holes were located by tape and compass. Of the 38 holes 7 encountered basement rocks without wash. The best ruby grades encountered to date were 21.11 carats of ruby per tonne in hole B11, 10.45 carats of ruby per tonne in hole B15 and 14.68 carats of ruby per tonne in hole B16. The rubies averaged approximately 0.25 carats in size. Sapphires averaged approximately 0.30 carats in size. The Company is pleased with the results of the drilling on the Upper Terrace and is awaiting the results of the further 20 holes before deciding on a further program for the area to enable the Company to make an estimate of the inferred resouce in the Upper Terrace. The information in the report to which this statement is attached relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Peter John Kennewell, who is a corporate member of the Australasian Institute of Mining and Metallurgy. Peter John Kennewell is employed by Kennent Pty Ltd, a consultant to the Company. Peter John Kennewell has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. Peter John Kennewell consents to the inclusion in the report of matters based on their information in the form and context in which it appears. The holes were drilled on NSW Gold NL's Exploration Licence 4684, which is in good standing. NSW Gold NL is a I00% owned subsidiary of Cluff Resources Pacific NL. The Licence is subject to an option to Television Corporation of Australia Pty Ltd to acquire a 51 % interest. For further information
please contact Peter Kennewell or Walter Penninger on (02) 9482 4655. |