Fourth Quarter Activities Report

Document date:  Mon 29 Jul 2002
Published:  Mon 29 Jul 2002 00:00:00
Document No:  220241
Document part:  C
Market Flag:  Y
Classification: 

JACKSON GOLD LIMITED                          2002-07-29  ASX-SIGNAL-G

HOMEX - Perth                                                         

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WALLBROOK PROJECT

CORPORATE ACTIVITY

The Company has successfully concluded negotiations to purchase the
equity of its Joint Venture partners in the Wallbrook Project as
listed below:

a) The purchase of Supersorb Minerals NL equity (20-25%) in certain
tenements. The terms of the purchase, are as follows:

- a cash consideration of $35,000; and 
- the issue of 275,000 ordinary shares of $0.20 ("the Shares"). The
Shares will be held in a voluntary escrow arrangement for 6 months
from the date of issue.

b) Synergy Metals Limited (5%) equity in certain tenements for the
following consideration:

- a $15,000 payment before the 30th July 
- a further $15,000 payment on completion of legal transfer

The Company now has a 100% interest in mineral tenements ELA 31/478,
EL's 31/89, 117 and 174, and PL's 31/1406-7 shown in figure 3. Croesus
Mining NL retains a royalty of $1O per ounce of gold produced.

DRILL PROGRAM 

An RC drilling program of 15 holes for 1168 metres was completed at
the project and has confirmed the highly prospective nature of this
exploration property. The best results were received from the Eleven
Bells prospect are listed below and all significant results are
listed in Table 2:

*  8 metres @ 4.17 g/t from 36 metres 
* 13 metres @ 2.91 g/t from 83 metres 
*  6 metres @ 2.15 g/t from 64 metres

REDBROOK PROSPECT

The Redbrook prospect was the location of previous explorer Talon
Resources initial discovery of new gold mineralisation in this area.
A small open pit exists adjacent to old workings and has a number of
economic intersections from drilling. This area is yet to be explored
by the Company and is currently being assessed as a future drill
target. 

Within this prospect area Talon discovered zone of mineralisation in
1996-7 a new named the Eleven Bells prospect associated with some
historical workings located 500 metres north of the Redbrook pit.

ELEVEN BELLS PROSPECT

This prospect is a priority target for the company as there are
numerous high-grade intersections from previous drilling. The company
received a number of encouraging results from holes drilled on the
western margin of the mineralised area. During the September quarter
it is planned to complete detailed geological modelling of the area
and calculate a Resource. Further drilling will be undertaken when
geological controls are more fully understood. It is highly likely
that this mineralisation is Part of a larger system that includes
both the adjacent Redbrook prospect as well as the Crusader
mineralisation located one kilometre to the north.

CRUSADER

A number of infill holes were drilled to test for the extensions of
high-grade mineralisation discovered by Oroesus during 1998-99.
Results were of a low tenor and indicate, that this mineralisation is
not simple and will require geological assessment prior to further
drilling.

SUMMARY

The Company regards the results as further indicating the potential
for economic mineralisation to be defined within this project. This
confidence is shown through the acquisition of additional equity in
the project and the Company can now plan for an active systematic
exploration program to commence in September. 

The Directors believe that the Wallbrook project is an excellent
advanced exploration property that is highly likely to repay our
investment in the medium term.

OTHER PROJECTS

The Northcote project in far north Queensland will be visited during
the September Quarter by management with a view to familiarisation
with Statutory authorities, local services and communities and field
inspection. A Desktop Study into the economic viability will commence
following compilation and review of all available Technical
information.

The Peak Hill project will also be inspected in the field and all
Technical data compiled and assessed. A RAB drill program will be
planned to test the extent and tenor of gold mineralisation on the
highly-prospective and under-explored Ruby Well fault zone.

No work is planned for the Iron Range project apart from compilation
of Technical data

STAFF

The Company is pleased to have secured the services of new personnel
to assist the Executive Directors with the day to day running of the
company:

* Mr Brett Smith has been retained for a contract period of six
months to provide consulting geological services. Brett was most
recently employed as Senior Geologist - Exploration, for Harmony
Gold's Big Bell Operations. Prior to this he was Kalgoorlie Regional
Manager for Resource Service Group.

* Mrs Sandy Jaensch has been employed as Office Manager. Sandy has
extensive field geological as well as office management experience
throughout Australia.



A Viner 
MANAGING DIRECTOR


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