EL 5418, Rabbit Flat, technical report for year seven of exploration

Abstract

Year 7 exploration was carried out on both EL 5418 North and EL 5418 South. Work conducted on the later consisted of diamond and RC drilling at the Minotaur Prospect and regional RAB drilling on the Windy Hill Project. Work conducted on EL 5418 North consisted of a detailed aeromagnetic and radiometric survey, and a reconnaissance RAB drilling programme.

Drilling was targeted at potentially mineralised zones which were interpreted to exist in the prospective Mine Sequence, within the hinge zone and lower limb of the major overturned F2 Minotaur Anticline. Results returned from drilling did not intersect any zones of significant mineralisation within the target areas, though several intervals between 0.1 and 1g-t were intercepted. Hence the calculated resource was not increased.

Regional RAB drilling however, returned weakly anomalous geochemistry immediately to the west of the Minotaur Prospect, and also to the north, close to where a synclinal fold closure in the aeromagnetics is interpreted to exist, this area warrants further exploration.

Potential still exists within the Windy Hill Project, where the NW-SE trending 'gold corridor' is interpreted to represent the near surface trace of the F1/F2 fold axes associated with the Minotaur Anticline. There is also potential of high grade ore shoots occurring within isoclinal F1 fold hinge zones at the Minotaur Prospect below the current depth of RC drilling. RAB drilling at the Four Corners Prospect (EL 5418 North), which was a follow up to a magnetic anomaly, did not return any significant geochemistry. Minor low order gold values (max 14ppb Au) were encountered associated with quartz veining in dolerite.

Elevated Cu-Zn values were also recovered from the dolerite.

The prospective Tanami Complex rocks are overlain by a thick cover of the Antrim Plateau Volcanics, whose thickness was not yet established from this drilling.