Annual Technical Report EL 29689 Copper Queen - Virginia for the period 20 August 2013 to 19 August 2014

Abstract

EL 29689 'Copper Queen - Virginia' is located approximately 100 km northeast of Alice Springs. Vehicle access into the area is reasonable, via the Stuart Highway and Plenty Highway to Mt Riddock Station and then by station tracks. During the reporting period Core Exploration began its exploration program on EL 29689. Core has two exploration models which it is actively exploring within the tenement. EL 29689 covers part of the Aileron Province as well as part of the Irindina Province and their contact. Core believes that the Proterozoic Aileron Province is prospective for Cu-Au mineralization, possibly with iron oxide copper gold (IOCG) affinities, whilst the Neoproterozoic to Cambrian aged Irindina Province is a highly deformed and amphibolite to granulite grade metamorphosed province which has recently been found to be prospective for copper-nickel-cobalt. The Riddock Amphibolite is a deformed amphibolite to gabbro and is an extensive unit within the Irindina Province which hosts copper-cobalt mineralization at Mithril Resources Basal Deposit. Core believes that the outcropping Riddick Amphibolite Member within EL 29689 is under explored for base metals within EL 29689. Within the EL 29689, Core Exploration has investigated the Copper Queen, Copper King, Skippy Tail, MR3 and Copper Mogul Prospects targeting copper-gold mineralisation within the Aileron Province, as well as the Virginia and Selins copper prospects within the Riddock Amphibolite of the Irindina Province. This work has focused on expanding on the exploration completed by Tanami Gold in the early 2000's. Exploration activities completed within the tenure during the reporting period involved the collection of fourty-three (43) rock chip samples, predominantly from the known prospects listed above (Figure 1.1). Core also undertook Induced Polarisation (IP) geophysical surveying at the Virginia and Copper Queen Prospects (Figure 1.1). Chargeable features have been defined in the IP data and are interpreted to be orientated parallel to measured dipping mineralisation bearing outcrops, leading to the interpretation that the chargeable feature may represent disseminated sulphides. This interpretation forms the target for drilling programs proposed by Core at the Virginia and Copper Queen Propsects planned for early 2015. Core has submitted a Mine Management Plan (MMP) covering the Virginia and Copper Queen Prospects for its proposed first drilling phase within EL 29689.