SMEDG - PREVIOUS MEETING

DATE: Thursday 25th March 1994 - 5.00 for 5.30 pm VENUE: Rugby Club, Crane Place, Sydney SPEAKERS: Dave Semple TOPIC: "The Tolukuma Gold Project, Papua New Guinea" Tolukuma is a structurally controlled epithermal gold fissure vein deposit located in logistically difficult terrain in Papua New Guinea. The initial discovery was in 1986 by Newmont Proprietry Limited during a grass roots exploration programme, but proved to be of insufficient size to be viable. In March 1993 Dome Resources entered into an agreement to acquire the project from Newmont, and has continued to upgrade the classification of the Resource to: Measured 440,000t @ 17g/t Au and 46g/t Ag and Indicated 120,000t @ 16g/t Au. Fluid flow modelling suggests that there is potential for more ore within the 1100m long vein system. A Mining Licence Application has been lodged and it is hoped to begin construction soon, as a helicopter suported operation. An initial open pit will process 312 t/d of ore prior to a proposed underground development. The Denver Gold Group's Report on Durban Roodepoort Deep Limited This company acquired Dome Resources. It also had some trouble with water at the Brown's Creek mine. Durban Roodeport Deep