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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Ron S. who wrote (1333)	6/2/1998 12:34:00 PM
From: Ron S.	Respond to of 7235

Brief list of projects other than M1. For the benefit of those not receiving an annual report, I have tried to list the various projects in progress. Angola ---------- Luo alluvial concession (Lunda Norte province) SUF - 46% of sales proceeds 1998 objective 3,000 carats / month 1997 production 22,000 carats averaging $350/carat. Camafuca-Camazambo SUF - 51% 3.3 kilometres long, 500 meters wide grades sampling from .17 carats/tonne up to .78 carats/ metre. Considered the largest undeveloped diamondiferous kimberlite pipe in the world. Klipspringer ----------------- 30 kilometre strike trend over 48,000 hectares 34 farms - 29 SUF - 100% mineral rights 1 SUF - under dispute (Marsfontein) 4 SUF - 50% mineral rights Projects making up Klipspringer include: Leopard fissure est. 6 kilometres long, averaging 1.1 metres wide and 250 metres deep est. .73 carats/tonne averaging .27 carats in size. in Aug '97 4,832 carats were sold for $573,662 Sugarbird fissure est. 6.1 kilometres long, averaging 1.3 meters wide and 200 metres deep. Sugarbird Pass 100 metres strike length averaging 3 metres wide. Sugarbird blow est. 77,000 tonnes of kimberlite at .86 carats per tonne, averaging .21 carats in size 35 x 40 metres at surface Two months production - 23,000 carats ( 9,816 Mar, 13,184 Apr 98) Sugarbird and Leopard combined are expected to produce 100,000 carats in 1998 at an estimated cost of $25/tonne Meinhardskraal Fissures SUF - 100% est. strike length 1.7 kilometres, up to 1.5 metres wide drill core yielded 9 micro-diamonds in 1.6 kilogram sample Pruissen Pipe SUF - 100% identification of irregular kimberlite pipe. Doornrivier SUF - 50% / De Beers - 50% identification of kimberlite occurrence Northwest Territories ------------------------------ Back Lake SUF - 70% MacKay Lake SUF - 70% Lac de Gras Tenby Property - SUF - 75% Commonwealth Property - SUF - 25% - 4 diamondiferous kimberlite occurences ATW Project - SUF - 10% Mackenzie Option Agreement - SUF - 40% DHK Project - SUF - 25% Manitoba 166 claims covering 421,890 hectares Others ---------- Botswana, Zambia, Zimbabwe, Swaziland (2 gold projects)