Exploration licence 9063 (Pollyara) annual and final exploration report to 26th April 1997

Abstract

Exploration Licence 9063 was granted to Aberfoyle Resources Ltd on April 27, 1995. The tenement was pegged to explore for Zn-Pb-Cu mineralisation in the Middle Proterozoic lithologies of the McArthur Basin. The proximity to other tenements, similar geological setting and proposed programs has led to all tenements in the McArthur Project being explored as one block. Areas targeted in EL 9063 are covered by Palaeozoic, Mesozoic and Cainozoic rocks of variable thickness, well to the south of the exposed portions of the McArthur Basin. Aeromagnetics (public domain data) interpretations suggest continuation of regionally important structures into these tenements If these structures come into contact with favourable lithologies, such as sediments of the McArthur Group, the main ingredients for a SEDFLX style base metal deposit are present. Aberfoyle's strategy has been to explore high priority areas areas under cover where these ingredients are thought to occur by airborne EM. This method of exploration has the advantage of rapidly testing large portions of ground which previously were only explorable by expensive deep drilling. EL 9063 does not rate as highly as other tenements within the project area, and therefore has not been included in the airborne EM program. No other work was completed during the reporting period. The tenement is recommended for complete relinquishment at the end of its second year.