any news due, page-5

this might be the results we're awaiting. just down the road from the very exciting morningstar




29 February 2008
MOUNT WELLINGTON GOLD PROJECT
DRILLING COMMENCES
Goldsearch commences diamond drilling of high priority geophysical targets.
Goldsearch Limited (ASX: GSE) is pleased to announce that it has commenced a diamond drilling program
to test two high priority geophysical targets at the Mount Wellington Project in Victoria.
The drilling program is expected to take six to eight weeks to complete with final assaying expected within
the June 2008 quarter.
Goldsearch director Mr John Percival commented, “We are excited to be finally drilling at Mount Wellington,
given the encouraging signs from previous surface and geophysical work. There is the potential for
significant mineralisation systems in the sub-surface within our fully-owned tenements."
Mount Wellington is located 20 kilometres south-east of the town of Jamieson and 10 kilometres east of the
Morning Star gold mine in the Woods Point / Walhalla region of eastern Victoria. Historical gold production
from this region totals in excess of 5 million ounces of gold.
The project is prospective for gold and base metals in a belt of Cambrian calc-alkaline “greenstone”
volcanic rocks. Limited previous exploration up to 1995 has identified a number of areas of gold and base
metal mineralisation and associated extensive hydrothermal alteration. The targets identified for the current
round of drilling are at the Rhyolite Hill and Mike’s Bluff prospects (see Figure One). Rhyolite Hill is located
on granted EL4843 and Mikes Bluff on the recently acquired EL5046. A number of other targets are
expected to be drilled on ELA4835 once native title agreements are reached and the tenement is granted.
The proposed drilling consists of two holes to test an aeromagnetic anomaly at Rhyolite Hill (see Figure
Two) and a third hole to test a coincident induced polarisation (IP) and magnetotelluric (CSAMT) anomaly
at Mike’s Bluff (see Figure Three). Previous exploration and drilling programs at both prospects has
identified extensive areas of hydrothermal alteration of the bed rock with associated gold and base metal
mineralisation. No previous drilling has effectively tested the geophysical targets.
For further information please contact:
John Percival, Director Operations
Goldsearch Limited
Phone: (02) 9241 5999