Resource and Target Summary
Fly-through as at 20.5.2009
Near Surface Resources and Targets
Emerald Gold Project - is focused on a section of Kimberley Reef within the West Rand Consolidated Lease. The Emerald Reserve is currently 59,000 ounces at an average grade of 1.71 g/t down to a vertical depth of 50m across a 1.5 km strike. The Emerald Gold Project also has 46,000 ozs in a JORC Measured Resource at 1.71 g/t down to 85m.
Monarch Resource - is 1km along strike to the south of the Emerald Gold Project. The Monarch Resource is currently an Indicated and Inferred 74,000 JORC resource down to 80m. The Company expects the Monarch Resource to supplement the current 3 production life at the Emerald Gold Project.
Radiant Resource - is viewed as a priority for its open cut and underground potential. The current JORC gold resource at Radiant is 271,000 ounces at an average grade of 1.71g/t down to 300m. The initial exploration plan was to test for near surface gold mineralisation conducive to potential open cut mining opportunities as well as for deeper underground mineralisation. The Radiant Resource is a 1.3km section of unmined Kimberley reef located on the eastern margin of Rand Leases.
Elder Target - focused on the Main, Main Reef Leader and South Reefs on both the West Wits Lease and West Rand Consolidated Reef. The exploration program will focus on high grade near surface mineralisation.
Lip Target - located on the north-eastern boundary of historic West Wits Open Cut Pit on the West Wits lease. The LIP target lies over an area of unmined Livingstone reef and is the northern continuation of the West Wits Open Cut Pit.
Marquise Resource - is focused on a near surface small section of Kimberley Reef within the DRD Lease. Marquise Resource is a 16,000 ounce inferred gold resource at an average grade of 1.72g/t, down to an average depth of 65m.
Turk Target - is located on the Luipaardsvlei Lease over an approximate 2km section of the Ventersdorp Contact Reef (VCR). The Turk Target had its initial drilling program completed in the December quarter which confirmed gold mineralisation at the target. A review of the assay information indicates two areas of near surface high grade gold mineralisation. A Phase 2 drilling program is currently being constructed to test the up dip extension of the high grade mineralised zones.
Unmined Targets which are open at depth
Radiant Resource - This target area became a priority after it was determined through the Company‘s extensive review of historical information, that this section of Kimberley Reef, within the Rand Lease, had remained unmined throughout the mine's productive years. The initial exploration program has confirmed high grade mineralisation down to 300m, but the target still remains open at depth. Historical infrastructure remains in place to access this section of Kimberley Reef at depth, however identified shafts will need to be refurbished.
Raptor Target - A medium term uranium target which is focused on a section of the Bird Reef Group which intersects the DRD Lease. The Bird Reef Group is predominately uranium bearing, has remained largely unexploited primarily due to the strategic focus of the previous lease owner. The initial exploration program completed in the June quarter 2008, confirmed significant uranium mineralisation within the reef, the precise location of the Bird Reef Group, the nature of the reefs (grade and width) and the continuity of the reefs down to approximately 500m below surface.
Harrier Target - In conjunction with further drilling programs focused on the Raptor target, the Company also intends to pursue drilling the Bird Reef Group within the adjacent Rand Leases. The Bird Reef Group intersects the Rand Leases on an approximate 3km East-West span. Whilst the Bird Reef Group within the DRD Lease experienced no historical mining activity, the Bird Reef Group was exploited within Rand Leases, for gold only.
Parallel Reefs Targets
King and Commander Targets - is focused on the Main and South Reefs. These two reefs were the most extensively mined reefs historically. As part of deeper underground exploration strategy, West Wit will look to test existing mineralisation within the pillar walls. It is the Company's belief significant mineralisation still exists between the Main and South Reefs and with improved mining technologies is potentially extractable, as demonstrated by Central Rand Gold Plc who are undertaking this production strategy on the leases immediately adjacent to the Company's Project Area.