mate, it was announced on 19.7.07 have attached the notice...

mate, it was announced on 19.7.07 have attached the notice here......................funny how we all missed it


ABN 73 006 645 754 Goldsearch Limited
Level 4
20 Loftus Street
SYDNEY
NSW 2000
Telephone: (02) 9241 5999 Fax: (02) 9241 5599
email: [email protected] G
G
gsh/psh/gsh708
19 July 2007
The Manager - Company Announcements Office
Australian Securities Exchange Limited
Level 4, 20 Bridge Street
SYDNEY NSW 2000
Via ASX Online Number of pages – 1
Dear Sir,
East Musgrave Joint Venture update
The directors of Goldsearch advise that Exploration Deeds have now been executed with
the Anangu Pitjantjatjara Yankunytjatjara (“APY”) for exploration licence applications
ELA198/96 and ELA343/96 and they expect the tenements to be granted shortly. Once
the tenements are granted, exploration activities can commence in a timely manner as
much of the initial work program clearance requirement was completed during the
negotiation process.
These applications are two high-priority tenements in the East Musgrave Joint Venture
between Goldsearch Limited, BHP Billiton Limited and Independence Group NL. Under
the three way Joint Venture Agreement, which is subject to final approval by APY, BHP
Billiton may earn a 65% interest in thirteen tenement applications covering approximately
16,000 square kilometres from Goldsearch and Independence by funding exploration
expenditure up to a value of $25 million or by delivering a bankable feasibility study within
10 years. Goldsearch and Independence Group have certain “claw back” rights to mineral
deposits which contain less than 80,000 tons of nickel metal.
The tenements are located in the Musgrave region of South Australia within the APY
freehold aboriginal lands. As previously advised, the region is considered highly
prospective for a number of ore body styles with the priority exploration target being nickel,
copper and platinum group element mineralisation similar to that discovered by BHP
Billiton (then WMC Resources Limited) at the Nebo-Babel Project across the border in the
Western Australian portion of the Musgrave Block.
Limited exploration by previous explorers in the 1970’s defined minor nickel and copper
sulphide mineralisation in three holes drilled at the Wnka Wnka Hill ( I had to edit the name hc not allowed it)prospect on
ELA343/96. Aside from this work the tenement areas are essentially un-explored using
modern mineral exploration techniques.
For and on behalf of the directors of
Goldsearch Limited
P S Hewson
Secretary