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PACIFIC RESOURCES LIMITED Capital/Financing Update 2005
65638_rns_2005-10-13_c9946ea1-175d-4689-8386-e8a1cab0682e.pdf
Capital/Financing Update
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Lodestone Exploration Limited ABN 20 075 877 075 www.lodestonex.com
14 October, 2005
The Manager Company Announcements Office Australian Stock Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000
Dear Sir.
MARKET UPDATE : DRILLING PROGRESS REPORT
Mount Morgan Project: Mount Victoria Prospect -
As reported on 8 September, 2005, two holes were drilled to 169 metres and 212 metres on optioned ground in the vicinity of Newcrest's MVRC 33 drill hole, targeting higher gold grades than those previously intersected by Newcrest and Lodestone.
Sulphidic core was sampled and sent for assay. Results are now to hand and reveal that drill holes MVLD05 and MVLD06 didn't produce significant metal values.
The prospect is being re-evaluated, with deeper holes as an option.
Yours faithfully,
John Mcawley
John McCawley Executive Director
About Lodestone Exploration Limited (ASX:LOD) - Lodestone is an Australian gold and base metals exploration company focusing on richly endowed mining districts in Central Queensland. These include the historic Mount Morgan, Mount Chalmers, and Cracow districts where Lodestone tenements and optioned tenements are being explored with modern techniques. The Company also holds 100% of the Limestone Creek gold project at Mareeba in an area highly prospective for gold.