GOLDFIELDS EXPLORATION Rob Taylor, GM Exploration Exploration Strategy in an Evolving Company The Goldfields Experience

GOLDFIELDS EXPLORATION

Rob Taylor, GM Exploration

Exploration Strategy in an Evolving CompanyExploration Strategy in an Evolving CompanyThe Goldfields ExperienceThe Goldfields Experience


Exploration

And God help you if you get it wrong!

Explore in the Bust to Produce in the Boom...


Kundana

M16/157

KUNDANA MINE LEASES

Pope John

Moonbeam

Charlie

Romeo

Juliet

BarkersPit Strezelecki

Pit

South LodePit

Fault

MineralisedStructure

Prospect

ResourceN

1 kilometre


Raleigh


Raleigh Stage 1 Pit Looking North

Raleigh VeinGabbro Volcanics

Paleochannel sands and alluvial fans

Alluvial Fans

Silcrete

Approx.Paleochannel

Limit


Goldfields Share Price 1995 - 2001

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

3/0

7/9

5

3/1

0/9

5

3/0

1/9

6

3/0

4/9

6

3/0

7/9

6

3/1

0/9

6

3/0

1/9

7

3/0

4/9

7

3/0

7/9

7

3/1

0/9

7

3/0

1/9

8

3/0

4/9

8

3/0

7/9

8

3/1

0/9

8

3/0

1/9

9

3/0

4/9

9

3/0

7/9

9

3/1

0/9

9

3/0

1/0

0

3/0

4/0

0

3/0

7/0

0

3/1

0/0

0

3/0

1/0

1

3/0

4/0

1

Date

Aus

tral

ian

Dol

lars


Goldfields - major changes since 1997

• Collapse of parent RGC; merger with Westralia Sands

• Takeover threats

• Heavy demand on cash

• Takeover of Gilt Edged Mining NL

• Major drought at Porgera

• Short mine lives at Henty, Paddington and Kundana

• Internal restructuring and cuts

• Separation of Goldfields


Goldfields Exploration is expected:

• to discover economic mineralisation

• under attractive financial conditions

• in an area conducive to development


Objectives for Goldfields Exploration

• Significantly increase resources at the Paddington,

Kundana and Henty mines

• New stand-alone deposits for growth


The Exploration Pyramid

DISCOVERYDISCOVERY

FEASIBILITYFEASIBILITY

RESOURCE DEFINITIONRESOURCE DEFINITION

ID MINERALIZATIONID MINERALIZATION

ANOMALY TESTINGANOMALY TESTING

ANOMALY GENERATIONANOMALY GENERATION

PRE - FEASIBILITYPRE - FEASIBILITY

ENTRY/ENTRY/

DEVELOPMENTDEVELOPMENT

PROPERTY ACQUISITIONPROPERTY ACQUISITION

INP

UT

INP

UT

GENERATIVE INPUTGENERATIVE INPUT

ENTRY BARRIERENTRY BARRIER

FAIL

UR

E

FAIL

UR

E


The Exploration Pyramid 1997

DISCOVERYDISCOVERY







ENTRY/ENTRY/



Old PloughOld PloughDamDam

MoriartyMoriartyMungariMungariKurrawangKurrawang

LeilaniLeilani

AphroditeAphrodite

BTZBTZ LTZLTZ

NorthlanderNorthlanderBonnievaleBonnievale

AnthonyAnthonySouth HentySouth Henty

Z15Z15

MountMountJuliaJulia


Changing Economic Conditions

• BreEx fraud - gold price collapse - Asian crisis

• Continued squeeze on gold - cash is king

• Dose of realism

• Rush into dot com(ic)


Goldfields Exploration Strategy

• Identify highly prospective districts

• Aggressively explore

• Acquire the ground


Where Are We Now?

DISCOVERYDISCOVERY







ENTRY/ENTRY/

Castle Hill, RayjaxCastle Hill, Rayjax


Zuleika (general)Zuleika (general)


ParadigmParadigm

AphroditeAphrodite

CharlieCharlieValhallaValhalla

BTZ ScotiaBTZ ScotiaTemoraTemora

TasmaniaTasmania

MinaraMinara

RaleighRaleigh


Bardoc Tectonic Zone - June 1997

KALGOORLIE

PADDINGTONPADDINGTON

00 1010 2020

kilometreskilometres

NN

KUNDANAKUNDANA

KANOWNA BELLEKANOWNA BELLE

SUPER PITSUPER PIT

Wendy GullyWendy Gully

PangloPanglo


Bardoc Tectonic Zone - June 1999

KALGOORLIE


00 1010 2020


NN

KUNDANAKUNDANA


SUPER PITSUPER PIT

Broad ArrowBroad Arrow

AphroditeAphrodite


Bardoc Tectonic Zone - March 2001

KALGOORLIE


00 1010 2020


NN

KUNDANAKUNDANA


SUPER PITSUPER PIT

Golden CitiesGolden Cities

SiberiaSiberia

AphroditeAphrodite


Sill Zone

Zone 96

Intermediate Zone

Mount Julia

Henty ShaftHenty Shaft

Gold PlantGold Plantand Officesand Offices

Henty Mine, Western TasmaniaLongitudinal Projection - 1997

MJ02032.3m at 7.0g/t Au

Area of mineralisation

NORTHSOUTH

metres

0 500


Sill Zone

Zone 96

Intermediate Zone

Zone 15

Tyndall Zone

Mount JuliaMount Julia South

Henty ShaftHenty Shaft

Gold PlantGold Plantand Officesand Offices

DeclineDecline

Henty Mine, Western TasmaniaLongitudinal Projection - 2001

NORTHSOUTH

Resource

0 500

metres


Zuleika - June 1997

KUNDANAKUNDANA

KALGOORLIE



SUPER PITSUPER PIT

00 1010 2020


NN


Zuleika - June 1999

KUNDANAKUNDANA

KALGOORLIE



SUPER PITSUPER PIT

00 1010 2020


NN

ParadigmParadigm


Zuleika - August 1999

KALGOORLIE



SUPER PITSUPER PIT

00 1010 2020


NN

KUNDANAKUNDANA

RomeoRomeo


Zuleika - June 2000

KALGOORLIE



SUPER PITSUPER PIT

00 1010 2020


NN

KUNDANAKUNDANA

WadiWadi

Mick AdamMick Adam

RayjaxRayjax

RomeoRomeo


Zuleika - March 2001

KUNDANAKUNDANA

KALGOORLIE



SUPER PITSUPER PIT

00 1010 2020


NN

Catherwood,Catherwood,PremierPremier

RalieghRalieghABC Line, PegasusABC Line, PegasusRubicon, HornetRubicon, Hornet

WhiteWhiteFoilFoil

CuttersCuttersRidgeRidge

MoonbeamMoonbeam


Exploration

Documents

GOLDFIELDS EXPLORATION Rob Taylor, GM Exploration Exploration Strategy in an Evolving Company The Goldfields Experience