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Announcements - 2004 |
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Re: Appendix 3Y notice
Enclosed is an appendix 3Y notice advising of a change in the relevant interest in securities of the Company held by director Mr J M E Percival arising from on-market purchases of shares in Goldsearch Limited by an associate.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3Y (PDF File - 156K)
Re: Drill results - Yorkeys project
Enclosed for release to the market is a report on the results from the recent drilling program undertaken on the Company's Yorkeys project in central Queensland.
For and on behalf of the directors of Goldsearch Limited
P S Hewson
Secretary
YORKEYS PROJECT
ENCOURAGING DRILL RESULTS
Final assays have been received from a reverse circulation drilling program at the Yorkeys Project in central Queensland. The Yorkeys Project is wholly owned by Goldsearch Limited under Mining Lease 50098 and includes the historic Yorkeys Surprise, Zealandia and Triad workings which were developed between 1895 and 1902 to produce approximately 3,000 tonnes of quartz lode grading 25 g/t gold. Little exploration has been completed since then as the Yorkeys and Zealandia workings have been held under private mining lease.
Eight holes were drilled on ML50098 for a total of 507 metres to test the strike and down dip extent of the known mineralisation. A further hole of 75 metres depth was drilled into the Beer & Dawson prospect, located one kilometre to the east of ML50098, over which Goldsearch has an option to purchase.
At Yorkeys the mineralisation consists of shallow dipping auriferous quartz veins on the margin of a diorite stock whilst at the Beer and Dawson Prospect the mineralisation occurs in a steely dipping quartz vein within metasediments.
Encouraging results were obtained in all holes except Y007 which tested a secondary structure to the north of the main workings. The best results were obtained in drill holes Y004 and Y009. Y004 was drilled under the Triad workings and intersected a six metre zone grading 3.17 g/t gold which included one metre at 15.4 g/t gold. Drill hole Y009 was drilled into the Beer & Dawson Prospect and intersected 2 metres grading 8.62 g/t gold and 77 g/t silver which included one metre at 15.8 g/t gold and 140 g/t silver. In addition to these high grade results drill hole Y002 (under the Yorkeys Surprise) intersected multiple gold zones over a 12 metre width.
Further drilling is planned in the New Year.
| Prospect |
Hole |
Drill Angle |
From metres |
To metres |
Length metres |
Au g/t |
Ag g/t |
| Yorkeys Surprise |
Y001 |
60° |
33 |
34 |
1 |
1.39 |
0.3 |
| Yorkeys Surprise |
Y002 |
60° |
46 |
47 |
1 |
4.20 |
1.1 |
| 50 |
53 |
3 |
3.65 |
1.1 |
|||
| 57 |
58 |
1 |
2.06 |
2.2 |
|||
| Zealandia |
Y003 |
60° |
29 |
30 |
1 |
2.27 |
BLD |
| Triad |
Y004 |
60° |
7 |
13 |
6 |
3.17 |
1.0 |
| Incl. |
10 |
11 |
1 |
15.4 |
2.6 |
||
| Triad |
Y005 |
60° |
17 |
18 |
1 |
0.51 |
0.6 |
| Triad |
Y006 |
60° |
13 |
14 |
1 |
1.06 |
0.3 |
| Waratah |
Y007 |
60° |
unmineralised |
||||
| Yorkeys Surprise |
Y008 |
Vertical |
63 |
65 |
2 |
4.30 |
BLD |
| Beer & Dawson |
Y009 |
60° |
35 |
36 |
1 |
0.85 |
0.5 |
| 58 |
59 |
1 |
0.79 |
1.6 |
|||
| 61 |
63 |
2 |
8.62 |
76.9 |
|||
| Incl. |
61 |
62 |
1 |
15.8 |
140 |
||
STATEMENT
Technical information contained in this announcement was prepared by Mr Trevor A Leahey, Exploration Manager Goldsearch Limited, and accurately reflects the information compiled by him. Mr Leahey has in excess of 20 years relevant experience in mineral exploration and mine development.
Re: Outcome of annual general meeting
In accordance with Listing Rule 3.13.2 we advise the following in relation to the Annual General Meeting of the shareholders of Goldsearch Limited held earlier today.
The resolutions to confirm the appointment of Mr T V Willsteed as a director and to re-elect Mr R B Leece as a director were both approved unanimously on a show of hands.
Proxies for the meeting were lodged by shareholders holding a total of 61,486,082 shares representing 33.56% of the total voting rights in the Company.
Of the proxy votes lodged in relation to the resolution to confirm the appointment of Mr T V Willsteed as a director 14,241,977 were in favour of the resolution; 37,000 were against the resolution; 500,000 abstained from voting; and 46,707,105 were open proxies to be voted at the discretion of the chairman and a member of the board.
Of the proxy votes lodged in relation to the resolution to re-elect Mr R B Leece as a director 14,741,977 were in favour of the resolution; 37,000 were against the resolution; and 46,707,105 were open proxies to be voted at the discretion the chairman and a member of the board.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Also available as a PDF File (72K)
Re: Appendix 3Y notice
Enclosed is an appendix 3Y notice advising of a change in the relevant interest in securities of the Company held by director Mr T V Willsteed arising from on-market purchases of shares in Goldsearch Limited by an associate.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3Y (PDF File - 184K)
Re: Appendix 3Y notice
Enclosed is an appendix 3Y notice advising of a change in the relevant interest in securities of the Company held by director Mr J M E Percival arising from on-market purchases of shares in Goldsearch Limited by an associate.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3Y (PDF File - 160K)
Re: Appendix 3Y notice
Enclosed is an appendix 3Y notice advising of a change in the relevant interest in securities of the Company held by director Mr J M E Percival arising from on-market purchases of shares in Goldsearch Limited by an associate.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3Y (PDF File - 168K)
Re: 2004 annual report and notice of annual general meeting
Enclosed for release to the market is a copy of the Company’s 2004 annual report and notice of annual general meeting which will be mailed to all shareholders today.
Please note that the 2004 annual general meeting of the shareholders of the Company will be held in Boardroom 1, Lobby Level, at the Sofitel Wentworth Sydney hotel, 61-101 Phillip Street, Sydney on Thursday 25 November 2004 at 11am.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Re: Appendix 3Y notice
Enclosed is an appendix 3Y notice advising of a change in the relevant interest in securities of the Company held by director Mr J M E Percival arising from on-market purchases of shares in Goldsearch Limited by an associate.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3Y (PDF File - 172K)
Re: Musgrave joint venture - Update on geochemical sampling
Independence Group NL as manager of our Musgrave Joint Venture has advised that encouraging results have been received from the recent wide-spaced reconnaissance geochemical sampling program over targeted portions of EL5701 and EL5703 in the Northern Territory.
Laboratory results have now been received for a total of 1,464 samples that were collected from 732 separate sample sites on a grid spacing ranging from 1km x 0.5km to 4km x 0.5km. The survey covered an area of approximately 1,000km2 over the prospective late Proterozoic rift sequence of bimodal volcanics, sediments and granitic intrusions.
The sampling consisted of a fine -75 micron soil sample and ironstone concentrate sample from each sample site and were analysed for a range of elements.
A number of encouraging trends of low level gold (Au) anomalism ranging from 6ppb up to 15ppb gold (background <2ppb gold) in iron stone samples have been identified up to 8km in length. These trends are in several cases in part coincident with a number of other elevated elements in both ironstone and fine fraction soil sampling.
Despite being relatively low level the wide spread gold anomalism is encouraging given the considerable wind blown aeolian sand component of the regolith in this region.
It is anticipated that follow-up infill sampling will commence during the December 2004 quarter.
A copy of an image of gold Geochemistry in Iron Stone Sampling provided by Independence is attached
For and on behalf of the directors of Goldsearch Limited
P S Hewson Secretary
Image of Au Geochemistry in Iron Stone Sampling

Re: Sale of investment in Reefway Pty Limited
We refer to the announcement made on 30 June 2004 advising of a conditional agreement for the sale of the Company’s investment in Reefway Pty Limited.
The directors of Goldsearch Limited are now pleased to advise that the conditions precedent in that agreement have been satisfied and the initial cash payment of $273,870 has been received.
The remaining consideration to be received for the sale is:
The carrying value of the investment in the Company’s accounts is $375,000.
For and on behalf of the directors of Goldsearch Limited
P S Hewson
Secretary
Re: Allotment of shares
The directors of Goldsearch advise that they have today allotted a total of 750,000 ordinary fully paid shares in the Company as part consideration for the acquisition of Mining Lease 50098 and Mining Lease Application 50513 (Yorkeys) Queensland. The remaining consideration for the acquisition was $10,000 cash, which has been paid.
Particulars of the Yorkeys tenements are set out in the Company’s June 2004 quarterly report, which was released to ASX on 28 July 2004.
A duly completed Appendix 3B in relation to the issue is attached.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3B (PDF File - 212K)
Re: Appendix 3X notice Mr T V Willsteed
Enclosed please find a duly completed Appendix 3X Initial Director’s Notice for Mr T V Wilsteed who was appointed a director of Goldsearch today.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Appendix 3X notice (PDF File - 172K)
Re: Appointment of director
The directors of Goldsearch Limited are pleased to advise that they have today appointed Mr Terence V Willsteed as a director of the Company.
Mr Willsteed is a mining engineer who has, since 1973, been the principal of consulting mining engineers Terence Willsteed & Associates. His forty-year career in the mining industry has included senior line operational and engineering positions with Zinc Corporation, Mount Isa Mines Limited and Consolidated Goldfields Limited. In his consulting experience Mr Willsteed has been involved in the assessment and development of a wide range of mineral, coal and oil shale projects, and has participated in the management of developing and operating mineral projects both in Australia and internationally. He holds a Bachelor of Engineering (Mining) Honours and Bachelor of Arts from the University of Queensland. Mr Wilsteed is also a director of Climax Mining Limited and Kimberley Oil NL
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Re: Expiry of options
The directors of Goldsearch Limited advise that a total of 13,500,000 unquoted options held by directors and consultants expired on 15 July 2004 and accordingly are of no further force or effect.
Following expiry of these options the total issued securities of the Company are:
Quoted securities:
182,459,348 ordinary fully paid shares
36,491,869 options exercisable at 8 cents each and expiring 30 September 2005Unquoted securities:
NIL
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Re: Exploration update - Musgrave Block joint venture
The directors of Goldsearch Limited are pleased to provide the following update on exploration activities under the joint venture with Independence Group NL. The update is based on information provided by Mr Heath Hellewell, Chief Exploration Geologist of Independence Group NL who has reviewed and approved this announcement.
Musgrave Block joint venture project with Independence Group
Based on the encouraging results received from the recent reconnaissance rock chip sampling program in the Northern Territory, a large regional soil sampling program covering over 1,400 square kilometres commenced on 22 June. The program consists of 760 geochemical samples collected from within EL 5701 and EL 5703 and is planned to test an extensive area of mafic and felsic volcanic rocks of the middle to lower Tjauwata Group. These rocks are interpreted as a Meso Proterozoic rift sequence and are intruded by a number of potential high-level granitic plutons. Conceptually this geological setting is considered prospective for a number of styles of precious and base metal mineralisation.
In South Australia, a recently completed ground EM geophysical survey, designed to cover an area of anomalous geochemical results for various nickel suite elements, highlighted a series of potential conductive bedrock features. These conductors will be drill tested as soon as a suitable drill rig can be sourced, to determine if they are potentially associated with nickel-bearing sulphide mineralisation.
Northern Territory (EL 5701 & EL 5703)
After being delayed by heavy rains, planned exploration programs commenced in the Northern Territory in late March with a preliminary reconnaissance geological visit to the area. During this program a number of key areas were visited and rock chips taken to assist with the planning of the forward work program.
Encouraging lead, copper, silver and bismuth anomalism from rock chip geochemistry has highlighted the potential for base and precious metal mineralisation in mafic and felsic volcanic and volcaniclastic rocks of the Tjauwata Group (Meso Proterozoic).
Sampling (14 rock chip samples) close to the northern margin of EL 5701 returned up to 12.03% lead in east-west trending quartz veining. Other samples from the same general area included values of 1.85%, 1.49% and 1.41% lead. In association with lead, copper returned a maximum value of 2.55%, silver to 162ppm and bismuth to 257ppm. Gold was slightly elevated with a maximum value of 90ppb. Sampling (7 rock chip samples) in the eastern portion of EL 5703 also returned up to 8.76% copper in altered phyllite. Rock chip locations are shown in Figure 1.
Figure 1

Musgrave Northern Territory project - Area of rock chip anomalism
Infill geochemical sampling was completed over two targets within EL 9407 where previous wide-spaced geochemistry returned elevated base metal values. Similar weakly anomalous, elevated base metal values were returned by the recent sampling. Results are currently being interpreted and a geological assessment of the area will be undertaken before any forward work programs are planned.
South Australia (EL 2910)
Following further geochemical sampling at De Rose Hill (EL 2910) a third area of elevated nickel, cobalt and copper geochemistry was targeted with ground EM geophysics. This survey returned encouraging results with a number of late-time signatures interpreted to potentially be associated with conductive bedrock features (Figure 2). Further ground EM geophysics is required to better define this target prior to drilling. It is proposed to drill-test this and a previously defined geophysical/ geochemical target as soon as a suitable drill rig can be sourced and mobilised to the area.
Figure 2

De Rose Hill (EL 2910) TEM Survey May 2004 - Channel 12
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Re: Conditional agreement for sale of investment in Reefway Pty Limited
Goldsearch Limited announces that it has signed an agreement to dispose of its entire shareholding in Reefway Pty Limited ("Reefway") to Avon Resources Limited ("Avon") (representing 8.95% of the issued capital of Reefway) for the following consideration:
In addition, Goldsearch Limited will receive a royalty entitlement calculated on production from Reefway's tenements. (The royalty is payable on production from the Reefway tenements which is the greater of a gross royalty payable on certain net payable metals derived from the tenements and a 1% net smelter return. In respect of the major metals, the royalty is only payable upon certain accumulated production thresholds being exceeded, for example 100,000 tonnes of net payable copper).
Pegmont Mines NL ("Pegmont") and Pegasus Enterprises Ltd ("Pegasus"), the other shareholders of Reefway, have also agreed to sell their shareholding to Avon.
The transaction is subject to a number of conditions precedent, including Avon completing due diligence; Avon, Reefway, Pegmont and Pegasus obtaining necessary shareholder approval; and Avon raising $2,000,000 in equity at not less than 1.5 cents per share prior to completion.
The net carrying value of this investment in the Goldsearch accounts is $375,000 comprised of investment at cost of $733,491 with a provision for diminution in value of $358,491.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary
Re: Hawks Nest joint venture report from Red Metal Limited
Enclosed for release to the market is a copy of a report from Red Metal Limited on the results of the recent exploration program on EL 2899 Hawks Nest in the Gawler Craton region of South Australia.
Red Metal Limited is the Company’s joint venture partner and is manager of the Hawks Nest project.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary

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