Golden Deeps : Quarterly Activities Report

Microsoft Word - GED Quarterly December 2015.docx

29 January 2016

Quarterly

Activities

Report for the period ended 31 December 2015

1 GROOTFONTEIN BASE METAL PROJECT

The Company holds an 80% interest in the highly

prospective Grootfontein

Base Metal Project

(GBP). The

Project is

located in

the Otavi

Mountain Land (OML), north east Namibia (Figure

1. The OML is a globally significant

   base metal

   province with

   production

   coming from several

   mines, including the now closed Tsumeb, Kombat, Abenab, and Berg Aukas.

   The Company's landholding stands at 632km2, with a further 331km2 under application. There are four recognised base metal trends with extensive strike lengths located within the tenement package, namely the Askevold, Khusib, Pavian and Abenab

   Trends. These

   advanced projects have been the

   main focus of the Company's exploration efforts.

   On its tenements and applications,

   Deeps holds

   two of the five historically important

   mines of the

   Otavi Mountain

   Land -

   Abenab and Christiana

   formerly Abenab West).

   Both mines

   have only

   u

   
   

   m

   Fig re 1 - Location of the Company's

   been tested over short strike lengths, with significant exploration upside available to Deeps.

   Na ibian projects.

   
   

   
   

   Activities during the Quarter

   Due

   to the prevailing dif icult market conditions and depressed commodity prices, no

   fieldwork was completed o

   the GBP during the quarter.

   
   

   2

   
   

   2.1

   WESTERN AUSTRALIAN GOLD PROJECTS

   
   

   Twin Hills (M 29/21), Western Australia

   The sale of the Twin Hills Project was completed during the quarter and this will allow the Company to focus on its other core assets.

   
   

   Golden Deeps Limited (ABN 12 054 570 777)

   
   

   1st Floor, 8 Parliament Place, West Perth, WA 6005

   
   

   • PO Box 1618, West Perth, WA 6872

 t: +61 8 9481 7 33  f: +61 8 9481 7835  email: ged@goldendeeps.com

For further information please contact:

Luke Marshall

Phone

(08) 9481 7833

Or consult our website:

www.goldendeeps. com

Competent Person Declaration

The information in this report that relates to Exploration Results is based on information compiled by Luke Marshall, who is a full time employee of Golden Deeps Limited and a member of The Australasian Institute of Geoscientists. Mr Marshall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves". Mr Marshall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Golden Deeps Limited's planned exploration programme and other statements that are not historical facts. When used in this document, the words such as "could," "plan " "estimate," "e xpect," "intend," "may", "potential," "should," and similar expressions are forward-looking statements. Al hough Golden Deeps Limited believes

that its expectations reflected in these forward-looking statements are reasonable, such statements involve

isks and

uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

APPENDIX 1 - Schedule of tenements

Schedule of Mining and Exploration Tenements
Country	State/Region	Project	Tenement ID	Area Km2	Grant Date	Interest %
Namibia	Otjozondjupa	Grootfontein Base Metals	EPL 3543	89	12/09/2006	80
EPL 3744	18	28/08/2007	80
EPL 3745	193	28/08/2007	80
EPL 3743	120	28/08/2007	80
EPL 5232	260	Application	Application
EPL 5233	63	Application	Application
EPL 5234	8.4	Application	Application
EPL 5496	13	Application	Application
EPL 5509	56	Application	Application
EPL 5510	73	Application	Application

2