Mid Kalahari Exploration

Exploration in the Mid Kalahari Zone consisted of completing the geological model of the Ophion deposit and initial drill testing of the base of the D’kar Formation at Kronus SW.  Prospecting licences 102/2005, 103/2005 and 104/2005 have been renewed for a further 2 years, expiring on 30 June 2015.

Gaia-Coeus-Theia

Further assay results from the Gaia drill program have been received.  Although most holes intersected copper-silver mineralisation, it appears narrow and poorly developed. 

Ophion

Further assays have been received at Ophion.  Quality checks of these results are underway and it is expected that these results will be reported in the Q4 2012. A geological model of the Ophion deposit was completed and an Inferred Mineral Resources estimate is expected to be completed before the end of 2012. 

Kronus SW

A four hole diamond core program was completed in the Kronus SW area in late June at an area of anomalous copper, with 331 metres drilled.  No copper-silver mineralisation was logged and one possibility is that the mineralised horizon has been faulted out.  The results of this work are being interpreted.