AngloGold Limited

Exploration Workshop

Bill Trewick
Manager: Geology, South Africa

February, 2003

Southern Africa – locality guide

Page 2

1
 The Witwatersrand Basin
Johannesburg

Savuka Ergo
Tau Tona
Mponeng N
WEST WITS

Tau Lekoa/ VAAL RIVER

Goedgenoeg Great Noligwa South
Rand
Weltevreden Moab Khotsong
Kopanang

Page 3

AngloGold South Africa – Geology team

Manager – Geology South Africa

Bill Trewick
South African
Corporate Office

Geology Geology Geology Geology Exploration Field

Manager Manager - Manager – Manager – Manager –
F van Berkel Projects Systems and AuBIS DB Admin and
Ian Frith Technology Admin Information
Jeff Kennedy Oskar Hannweg Dudley Emslie

Exploration and Geology departments also exist at each mining operation

2
Exploration expenditure 2002 and budget 2003
2002 - expenditure
Tau Lekoa
14%

TauTona 2003 - budget

Kopanang
11% 4% Weltervreden
4%
Goedgenoeg
34%

Mponeng
Moab Khotsong 34%
75%
Total expenditure – US$0.923 million
Tau Lekoa
TauTona 4%
16%
Moab Khotsong (Ph1)
4%
Total Budget – US$3.63 million

Page 5

Exploration Objectives – South Africa

The objective of the exploration team is to replace ounces and extend the lives of
existing operations.

Areas of focus are:

•Moab Khotsong Phase 2

•Weltevreden

•Goedgenoeg (ext.)

•Sub-120 level Carbon Leader reef at TauTona

•Sub-120 level VCR at Mponeng

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3
Exploration on the Vaal Reef – Vaal River Area

ARMGold N

GREAT
Orkney
NOLIGWA

g
on
Kh ab
ots
Mo
Goedgenoeg KOPANANG

TAU
LEKOA

WELTEVREDEN
Vaal Reef Mines

VCR Mines and properties

10 km

Page 7

Vaal Reef

• Geological facies are as

important as the intersection
50
of grades per se
0
50
1
• Each Vaal Reef intersection
is allocated to a specific
50
2
Geozone
47

• The geological model is the

43 0
0
37
0
basis for geostatistical
44
52
0
0 estimation
46
0

Vaal Reef Geozones

and reconstructed
blocks – July 2002

0 5000
SCALE

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4
Exploration on the Vaal Reef

Moab Khotsong – Current capital project

Long inclined exploration boreholes gave reassuring facies and assay results:

LIB 6: Average = 45.75 g/t over 63.8 cm, giving 2920 cm.g/t
LIB 8: Average = 41.47 g/t over 86.5cm, giving 3585 cm.g/t

Moab Phase 2 – Potential development project

Surface hole (MMB3) for deeper reef blocks intersected the anticipated facies with assay results
pending.

Page 9

Section through LIB 8 (simplified)

Moab Khotsong – 3D Seismic Section

Dips are steeper than expected

and there are no large faults
apparent across the reef block.

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5
 Exploration on the Vaal Reef

Moab Khotsong - Looking Forward

Two long inclined holes are planned for 2003 to define structure and facies for grade
predictions

Page 11

MMB3
3D Seismic section through MMB3

Base of lava

Full hangingwall sequence

above the reef
VAAL REEF

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6
Exploration on the VCR - Vaal River Operations

Weltervreden
2003 – shallow drilling to
improve confidence in grades in
old decline area and to test for N
ArmGold
open pit potential.
Gt. Noligwa
Aim - to locate economic blocks Kopanang
Moab
within the total resource.
Tau
Lekoa

Weltervreden
Weltevreden
Weltevreden
0 1 2 3 4 5

km

Page 13

Weltevreden Mine - Proposed drillsites for 2003

00

r
iv e
11

al R
800

V a
700

00
0
110

10
0

00
150

11
12 0
0

6 Shaft Running Dyke -

0
130

800
140

900

80 0

natural barrier to mining

0
0

1 00
15 0

from Tau Lekoa

900
0

0
0
0
140

a
110
12 0
1 30

Target is remnant of a

ko
700
900

mature channel on heavily Middle

0
140

Le
dissected Upper Terrace
Slopes and
0

Terraces
130

u
0

N Ta ine
1 20

Old surface
1200

Anticipated
0

decline
110

Orebody
M
700
0

800
0
120

110

Seismic
800
0
130

survey area
OUTCRO SUB-
0

800

700
130

0
110

900

Fault loss
0

E2
0
0
14 0

1000
120
140

LE
P
0

RECC
1 50

UC1870
POSSIB
RECCE1

Borehole
0
130

(<500cm.g/t)
0
0

900
1100

1000
0

150
1 60
18 0

0
0

700
190

170

600
120

Borehole
0

700
1 40

(>500cm.g/t)
UC19
800
1200

Borehole
900

SCALE
0
0

110
160

1200

(proposed)
0
0

0
0
1 40
15 0

12 0
1 30

0 1 2 Km
1000
600

Depth contours in metres

below mine datum.
1100

( Mine datum is approximately

500 metres above surface)

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7
 Vaal River – Goedgenoeg (Tau Lekoa)
Target thick well-mineralised conglomerate body that lies
below the deepest working level.

The target orebody extends westwards from Tau Lekoa onto N

the farm Goedgenoeg.

ARM

Earlier drilling of hole G46 returned an GREAT

NOLIGWA
average of 18.08 g/t over 286.5 cm.,
giving 5181cm.g/t. KOPANANG
GOEDGENOEG

NG
KH OAB
SO
Two new deep surface boreholes

OT
TAU LEKOA

M
(G47 and G48), which form part of a
four-hole exploration programme,
Weltervreden
intersected VCR in 2003.
10 km

Page 15

Seismic section through Tau Lekoa and Goedgenoeg

WNW
G44 ESE
base Allanridge
erg
latb
eP
bas

base Goedgenoeg

VC
R
Klipriviersberg lavas

Central Rand Group

VC
R
Tau Lekoa
Goedgenoeg

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Conceptual model – palaeo-topography of VCR at Tau Lekoa and Goedgenoeg

High Terrace Upper Terrace Main Channel Lower Terrace Middle Terrace
(+28m up) (20-25m up) (Base Level) (2-6m up) (12-15m up)

Primary Target

Tau Lekoa shaft

Page 17

Mponeng – Ventersdorp Contact Reef

• 3D seismic data has resulted

in a robust structural model

• Evaluation of VCR between

109 – 120 L

Page 18

9
Mponeng – VCR 3D seismic model

Page 19

Mponeng – new drilling projects

CARBON LEADER
DRILLING

99 HLGE WEST
PROJECT AREA MPONENG SHAFT

109-120 LEVEL PROJECT AREA (in progress)

120-125 LEVEL PROJECT AREA

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TauTona

Two carbon leader drill projects :

1. Life extension
Test the margin of the low-
grade Multiple Conglomerate
Facies (MCF), known to lie
south east of TauTona from
surface drilling (UD32).

2. Below 120L
Evaluation drilling to confirm
mineralisation continuity of
carbon leader below 120L.

Page 21

TauTona - Grade distribution (Composite kriged grids)

Shaft pillar

Multiple
conglomerate facies

‘Single’ conglomerate facies

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Exploration successes to date – South Africa
AngloGold’s exploration expertise in South Africa provided data for the following approved
capital projects:
• Mponeng deepening
• TauTona expansion
• Moab Khotsong - to 101L

Contributed to potential development projects – exploration work has confirmed knowledge

of orebodies enabling the following projects to be considered:
• Moab Khotsong Phase 2 – below 101L
• Mponeng – below 120L
• TauTona deepening – below existing infrastructure
• Goedgenoeg

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