8 fully cored diamond holes tested possible fold structures near old mines, for Telfer type stratabound gold mineralization in shoots similar to those mined in the Alma and Victoria mines. 5 distinctive auriferous reefs were intersected in each drillhole, within the basal Cox Sandstone Member of the Tarcowie Siltstone. No new ore reserves were delineated. The best intersections were in DDH 7, 180 m west of Victoria shaft, where the South Reef assayed 3.64 g/t Au over an intersection of 0.85 m (0.74 m true thickness) from 43.25 - 44.1 m depth. Trace element analyses showed that cobalt, copper, iron and manganese are generally elevated where the gold contents are anomalous. Other elements showed no correlation with anomalous gold values. A distinctive breccia zone found either at or near the Tapley Hill Formation - Tarcowie Siltstone contact has been interpreted as either a slump breccia or a palaeosurface representing a major break in sedimentation. The Main Reef is sometimes associated with this horizon, suggesting that porosity or ground preparation has played an important part in emplacement of the mineralization.