Annual Report for ERL 137, ERL 138, ERL 139 and ERL 140, Tanami Region 20 April 1997 to 19 April 1998

Abstract

The tenements were acquired from WMC in May 1988. The initial program consisted of additional RAB, RC and Diamond drilling at the Bonsai and Beaver prospects in order to determine an ore resource. At the Beaver deposit significant high grade intercepts were made normally over narrow widths ie 2-5m. The better result was obtained from hole PGRC 47 which intersected 68m @ 5.35g-t Au from 37 to 105m and included 10 @ 25.3g-t Au from 59 to 69m. A resource for the Beaver deposit was calculated four times during the period and varied from an inferred resources of 446000 t @ 3.64g-t Au using a manual block method to an indicated resource of 797000 tonnes @ 3.79g-t Au using geological interpretation both method and a 0.5 g-t Au cut-off. At the Bonsai deposit an inferred resources of 420000 tonnes @ 1.9 g-t Au was obtained. Infill RAB drilling between the Beaver and Bonsai deposits within ERL 137 intersected a new anomalous zone of RAB drilling and has been named Banjo. Initial intercept was 32m @ 6.2 g-t Au and hole was terminated in high grade mineralisation additional RC drilling has indicated the continuity of the mineralisation in a NW direction for 75m and appears to be open in both directions. Post hole drillings at the Banjo area has intersected anomalous result to the North of the prospect within ERL 137. Post hole drilling within ERL 139 was conducted around the Charlotte and Snuggins prospects. The results do show some anomalism but complete assessment needs to be made using the information gained in the Banjo - Beaver, Bonsai prospects area. An aeromagnetic interpretation has been made and has resulted in a structural and geological map, which has highlighted a number of favourable targets that will require evaluation.